Mersana Therapeutics Announces Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Mersana Therapeutics (NASDAQ:MRSN) has announced an inducement grant under Nasdaq Listing Rule 5635(c)(4). The company's Compensation Committee approved a restricted stock unit (RSU) award for one new employee who joined in January 2025. The grant consists of RSUs to acquire 20,610 shares of common stock.

The RSU award will vest in equal annual installments over four years, beginning February 15, 2025, contingent upon the employee's continued service with Mersana. The grant is subject to Mersana's 2022 Inducement Stock Incentive Plan and the terms of an RSU agreement.

CAMBRIDGE, Mass., Feb. 07, 2025 (GLOBE NEWSWIRE) -- Mersana Therapeutics, Inc. (NASDAQ:MRSN), a clinical-stage biopharmaceutical company focused on discovering and developing a pipeline of antibody-drug conjugates (ADCs) targeting cancers in areas of high unmet medical need, today announced that on February 3, 2025, the Compensation Committee of the Board of Directors of Mersana granted an inducement award, consisting of a restricted stock unit (RSU) award to acquire 20,610 shares of its common stock, to one new employee whose employment commenced in January 2025. The award was granted as an inducement material to the new employee entering employment with Mersana in accordance with Nasdaq Listing Rule 5635(c)(4).

The RSU award will vest in equal annual installments on the first four anniversaries of February 15, 2025, subject to the employee’s continued service with Mersana on each such vesting date. The RSU award is subject to the terms and conditions of Mersana’s 2022 Inducement Stock Incentive Plan and the terms and conditions of an RSU agreement covering the grant.

About Mersana Therapeutics
Mersana Therapeutics is a clinical-stage biopharmaceutical company focused on the development of novel antibody-drug conjugates (ADCs) and driven by the knowledge that patients are waiting for new treatment options. The company has developed proprietary cytotoxic (Dolasynthen) and immunostimulatory (Immunosynthen) ADC platforms that are generating a pipeline of wholly-owned and partnered product candidates with the potential to treat a range of cancers. Its pipeline includes Emi-Le (emiltatug ledadotin; XMT-1660), a Dolasynthen ADC targeting B7-H4, and XMT-2056, an Immunosynthen ADC targeting a novel epitope of human epidermal growth factor receptor 2 (HER2). Mersana routinely posts information that may be useful to investors on the “Investors & Media” section of its website at www.mersana.com.

Contact:
Jason Fredette
617-498-0020
jason.fredette@mersana.com

FAQ

How many shares are included in Mersana Therapeutics' (MRSN) February 2025 RSU inducement grant?

The RSU inducement grant includes 20,610 shares of Mersana Therapeutics' common stock.

What is the vesting schedule for MRSN's February 2025 inducement RSU grant?

The RSU award vests in equal annual installments over four years, with vesting dates starting from February 15, 2025, subject to continued employment.

When did Mersana Therapeutics (MRSN) approve the February 2025 inducement grant?

The Compensation Committee approved the inducement grant on February 3, 2025.

Under which regulatory rule was MRSN's February 2025 inducement grant issued?

The inducement grant was issued under Nasdaq Listing Rule 5635(c)(4).