IDEAYA Biosciences Announces Inducement Grants under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

IDEAYA Biosciences (NASDAQ: IDYA) has granted non-qualified stock options to nine newly hired employees as part of their employment inducement package. The Compensation Committee approved options to purchase 664,600 shares of common stock under the company's 2023 Employment Inducement Incentive Award Plan. The options were priced at $20.05 per share, matching IDEAYA's closing price on the Nasdaq Global Select Market on the grant date. These 10-year options will vest over four years, with 25% vesting after the first year and the remaining 75% vesting monthly over the following three years, contingent on continued employment.

Positive

• Attraction of new talent with equity compensation indicates company growth and expansion
• Long-term vesting schedule of 4 years helps retain key employees

Negative

• Potential dilution of existing shareholders from the issuance of 664,600 new stock options

SOUTH SAN FRANCISCO, Calif., May 30, 2025 /PRNewswire/ -- IDEAYA Biosciences, Inc. (NASDAQ: IDYA), a precision medicine oncology company committed to the discovery and development of targeted therapeutics, today announced that, on May 29, 2025, the Compensation Committee of IDEAYA's Board of Directors granted non-qualified stock options to purchase an aggregate of 664,600 shares of the Company's common stock to nine newly hired employees. The stock options were granted under the IDEAYA Biosciences, Inc. 2023 Employment Inducement Incentive Award Plan (2023 Inducement Plan) as an inducement material to such individuals' entering into employment with IDEAYA in accordance with Nasdaq Listing Rule 5635(c)(4).

The 2023 Inducement Plan is used exclusively for the grant of equity awards to individuals who were not previously employees of IDEAYA, or following a bona fide period of non-employment, as an inducement material to such individuals' entering into employment with IDEAYA, pursuant to Nasdaq Listing Rule 5635(c)(4).

The stock options have an exercise price of $20.05 per share, which is equal to the closing price of IDEAYA's common stock on The Nasdaq Global Select Market on the date of grant. The stock options have a 10-year term and will vest over four years, with 25% of the options vesting on the first anniversary of the vesting commencement date and the remaining 75% of the options vesting in equal monthly installments over the three years thereafter. Vesting of the stock options is subject to such employee's continued service to IDEAYA on each vesting date.

About IDEAYA Biosciences

IDEAYA is a precision medicine oncology company committed to the discovery and development of targeted therapeutics for patient populations selected using molecular diagnostics. IDEAYA's approach integrates capabilities in identifying and validating translational biomarkers with drug discovery to select patient populations most likely to benefit from its targeted therapies. IDEAYA is applying its early research and drug discovery capabilities to synthetic lethality – which represents an emerging class of precision medicine targets. 

Investor and Media Contact
IDEAYA Biosciences
Joshua Bleharski
Chief Financial Officer 
investor@ideayabio.com

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SOURCE IDEAYA Biosciences, Inc.

FAQ

How many stock options did IDEAYA Biosciences (IDYA) grant to new employees in May 2025?

IDEAYA Biosciences granted stock options to purchase 664,600 shares of common stock to nine newly hired employees.

What is the exercise price for IDYA's May 2025 inducement stock options?

The stock options have an exercise price of $20.05 per share, equal to IDEAYA's closing price on the grant date.

What is the vesting schedule for IDEAYA's May 2025 inducement stock options?

The options vest over 4 years, with 25% vesting after the first year and the remaining 75% vesting monthly over the following three years.

What is the purpose of IDEAYA Biosciences' 2023 Inducement Plan?

The 2023 Inducement Plan is exclusively used to grant equity awards to new employees as an inducement for joining IDEAYA, in accordance with Nasdaq Rule 5635(c)(4).