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

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Mersana Therapeutics, Inc. (NASDAQ:MRSN) granted an inducement award of 12,205 shares of its common stock to a new employee. The award was granted in accordance with Nasdaq Listing Rule 5635(c)(4) and will vest in equal annual installments over four years.

CAMBRIDGE, Mass., Dec. 01, 2023 (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 December 1, 2023, the Compensation Committee of the Board of Directors of Mersana granted an inducement award, consisting of a restricted stock unit (RSU) award to acquire 12,205 shares of its common stock, to one new employee whose employment commenced in November 2023. 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 November 15, 2023, 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 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

What is the recent announcement from Mersana Therapeutics, Inc. (MRSN)?

Mersana Therapeutics, Inc. (MRSN) granted an inducement award of 12,205 shares of its common stock to a new employee.

What is the purpose of the inducement award granted by Mersana Therapeutics, Inc. (MRSN)?

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).

How will the RSU award granted by Mersana Therapeutics, Inc. (MRSN) vest?

The RSU award will vest in equal annual installments on the first four anniversaries of November 15, 2023, subject to the employee’s continued service with Mersana on each such vesting date.