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 185,400 shares of common stock at an exercise price of $19.07 per share, matching the closing price on the Nasdaq Global Select Market on the grant date.

The stock options, granted under Nasdaq Listing Rule 5635(c)(4), feature a 10-year term with a four-year vesting schedule: 25% vesting after the first year, followed by monthly installments over three years. These inducement grants are specifically designed for new employees who were not previously with IDEAYA, contingent upon their continued service with the company.

Positive

• Company demonstrates ability to attract new talent with equity compensation
• Stock options are priced at market value, aligning with shareholder interests

Negative

• Potential future dilution from 185,400 new stock options

SOUTH SAN FRANCISCO, Calif., April 25, 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 April 24, 2025, the Compensation Committee of IDEAYA's Board of Directors granted non-qualified stock options to purchase an aggregate of 185,400 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 $19.07 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
Chief Accounting Officer
investor@ideayabio.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/ideaya-biosciences-announces-inducement-grants-under-nasdaq-listing-rule-5635c4-302438045.html

SOURCE IDEAYA Biosciences, Inc.

FAQ

What is the vesting schedule for IDYA's newly granted stock options?

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

How many shares of IDYA stock were granted in the inducement awards?

IDEAYA Biosciences granted options to purchase 185,400 shares of common stock to four new employees.

What is the exercise price for IDYA's newly issued stock options?

The stock options have an exercise price of $19.07 per share, equal to IDEAYA's closing price on the grant date.

How long is the term of IDYA's newly granted stock options?

The stock options have a 10-year term.