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

IDEAYA Biosciences (NASDAQ: IDYA) has announced the granting of non-qualified stock options to a newly hired employee.

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Rhea-AI Summary

IDEAYA Biosciences (NASDAQ: IDYA) has announced the granting of non-qualified stock options to a newly hired employee. The Compensation Committee approved options to purchase 150,000 shares of common stock under the company's 2023 Employment Inducement Incentive Award Plan. These options, granted on August 19, 2024, have an exercise price of $39.06 per share, matching the closing price of IDEAYA's stock on the grant date. The options have a 10-year term and will vest over four years, with 25% vesting after one year and the remaining 75% vesting monthly over the following three years, subject to continued employment.

Positive

Granting of stock options may help attract and retain talent
Exercise price aligns with current market value, potentially motivating employee performance

Negative

Potential dilution of existing shareholders' equity

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08/23/2024 - 06:00 AM

SOUTH SAN FRANCISCO, Calif., Aug. 23, 2024 /PRNewswire/ -- IDEAYA Biosciences, Inc. (NASDAQ: IDYA), a precision medicine oncology company committed to the discovery and development of targeted therapeutics, today announced that, on August 19, 2024, the Compensation Committee of IDEAYA's Board of Directors granted non-qualified stock options to purchase an aggregate of 150,000 shares of the Company's common stock to a newly hired employee. 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 individual 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 $39.06 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
Andres Ruiz Briseno
Senior Vice President, Head of Finance and Investor Relations
investor@ideayabio.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/ideaya-biosciences-announces-inducement-grants-under-nasdaq-listing-rule-5635c4-302229039.html

SOURCE IDEAYA Biosciences, Inc.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many stock options did IDEAYA Biosciences (IDYA) grant on August 19, 2024?

IDEAYA Biosciences (IDYA) granted non-qualified stock options to purchase 150,000 shares of the company's common stock on August 19, 2024.

What is the exercise price for the stock options granted by IDEAYA Biosciences (IDYA)?

The exercise price for the stock options granted by IDEAYA Biosciences (IDYA) is $39.06 per share, equal to the closing price of IDEAYA's common stock on The Nasdaq Global Select Market on the date of grant.

What is the vesting schedule for the stock options granted by IDEAYA Biosciences (IDYA)?

The stock options granted by IDEAYA Biosciences (IDYA) will vest over four years, with 25% vesting on the first anniversary and the remaining 75% vesting in equal monthly installments over the following three years.

Under which plan were the stock options granted by IDEAYA Biosciences (IDYA)?

The stock options were granted under the IDEAYA Biosciences, Inc. 2023 Employment Inducement Incentive Award Plan (2023 Inducement Plan).

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