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

Rhea-AI Summary

IDEAYA Biosciences (NASDAQ: IDYA) has announced the granting of non-qualified stock options to four newly hired employees through its 2023 Employment Inducement Incentive Award Plan. The Compensation Committee approved options to purchase 125,600 shares of common stock on February 27, 2025.

The stock options were granted at an exercise price of $20.24 per share, matching the closing price of IDEAYA's stock on the Nasdaq Global Select Market on the grant date. These options come with a 10-year term and follow a four-year vesting schedule: 25% vesting after the first year, with the remaining 75% vesting in equal monthly installments over the following three years. The vesting is contingent upon continued employment with IDEAYA.

Positive

• Employee retention strategy through equity compensation
• Successful talent acquisition with 4 new hires

Negative

• Potential dilution of existing shareholders from 125,600 new stock options

SOUTH SAN FRANCISCO, Calif., Feb. 28, 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 February 27, 2025, the Compensation Committee of IDEAYA's Board of Directors granted non-qualified stock options to purchase an aggregate of 125,600 shares of the Company's common stock to four 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 $20.24 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-5635c4-302388197.html

SOURCE IDEAYA Biosciences, Inc.

FAQ

What is the exercise price for IDYA's newly granted stock options in February 2025?

The stock options were granted at an exercise price of $20.24 per share, equal to IDEAYA's closing price on Nasdaq on the grant date.

How many shares of IDYA stock options were granted to new employees in February 2025?

IDEAYA granted options to purchase 125,600 shares of common stock to four newly hired employees.

What is the vesting schedule for IDYA's February 2025 employee stock options?

The options vest over 4 years: 25% after first year, remaining 75% in monthly installments over next 3 years.

How long is the term for IDYA's February 2025 employee stock options?

The stock options have a 10-year term.