Karyopharm Therapeutics Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Karyopharm Therapeutics (Nasdaq: KPTI), a commercial-stage pharmaceutical company focused on novel cancer therapies, has announced the granting of 3,316 restricted stock units (RSUs) to five newly-hired employees as of February 28, 2025.

The RSU awards, granted under the Company's 2022 Inducement Stock Incentive Plan, will vest over three years, with 33 1/3% vesting on each anniversary of the Grant Date. The grants were made in accordance with Nasdaq Listing Rule 5635(c)(4) as employment inducements.

The RSUs include an acceleration clause that allows for immediate full vesting if the employee's employment is terminated for 'good reason' or without 'cause' within one year of a change in control event.

NEWTON, Mass., March 3, 2025 /PRNewswire/ -- Karyopharm Therapeutics Inc. (Nasdaq: KPTI), a commercial-stage pharmaceutical company pioneering novel cancer therapies, today announced that the Company granted an aggregate of 3,316 restricted stock units (RSUs) to five newly-hired employees. These RSU awards were granted as of February 28, 2025 (the "Grant Date") pursuant to the Company's 2022 Inducement Stock Incentive Plan, as amended, as inducements material to the new employees entering into employment with Karyopharm in accordance with Nasdaq Listing Rule 5635(c)(4).

Each RSU award will vest over three years, with 33 1/3% of the shares underlying the RSU award vesting on each of the three consecutive anniversaries of the Grant Date. The vesting of each RSU award is subject to the employee's continued service as an employee of, or other service provider to, Karyopharm through the applicable vesting dates.

In addition, each RSU award will be immediately exercisable in full if, on or prior to the first anniversary of the consummation of a "change in control event," the employee's employment is terminated for "good reason" by the employee or terminated without "cause" by Karyopharm (as such terms are defined in the 2022 Inducement Stock Incentive Plan, as amended).

About Karyopharm Therapeutics

Karyopharm Therapeutics Inc. (Nasdaq: KPTI) is a commercial-stage pharmaceutical company whose dedication to pioneering novel cancer therapies is fueled by a belief in the extraordinary strength and courage of patients with cancer. Since its founding, Karyopharm has been an industry leader in oral compounds that address nuclear export dysregulation, a fundamental mechanism of oncogenesis. Karyopharm's lead compound and first-­in-­class, oral exportin 1 (XPO1) inhibitor, XPOVIO^® (selinexor), is approved in the U.S. and marketed by the Company in three oncology indications. It has also received regulatory approvals in various indications in a growing number of ex­-U.S. territories and countries, including Europe and the United Kingdom (as NEXPOVIO^®) and China. Karyopharm has a focused pipeline targeting indications in multiple high unmet need cancers, including in multiple myeloma, endometrial cancer, myelofibrosis, and diffuse large B-cell lymphoma (DLBCL). For more information about our people, science and pipeline, please visit www.karyopharm.com, and follow us on LinkedIn and on X at @Karyopharm.

XPOVIO^® and NEXPOVIO^® are registered trademarks of Karyopharm Therapeutics Inc.

 

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SOURCE Karyopharm Therapeutics Inc.

FAQ

How many RSUs did Karyopharm Therapeutics (KPTI) grant to new employees in February 2025?

Karyopharm granted 3,316 RSUs to five newly-hired employees on February 28, 2025.

What is the vesting schedule for KPTI's February 2025 RSU grants?

The RSUs vest over three years, with 33 1/3% vesting on each anniversary of the February 28, 2025 grant date.

What happens to KPTI's RSU grants in case of a change in control event?

RSUs become immediately fully vested if employment is terminated for 'good reason' or without 'cause' within one year of a change in control event.

Under which plan were the February 2025 KPTI RSU grants issued?

The RSUs were granted under Karyopharm's 2022 Inducement Stock Incentive Plan, in accordance with Nasdaq Listing Rule 5635(c)(4).