Mural Oncology Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Mural Oncology plc (Nasdaq: MURA), a clinical-stage immuno-oncology company, has granted stock options and restricted stock units to a newly hired employee. The company issued non-statutory stock options to purchase 21,500 ordinary shares and restricted stock units for 11,500 ordinary shares. These grants were made under Mural's 2024 Inducement Stock Option and Incentive Plan, in compliance with Nasdaq Listing Rule 5635(c)(4).

The stock options have an exercise price of $3.16 per share, equal to the closing price on September 3, 2024. They have a ten-year term and vest over four years, with 25% vesting after one year and 6.25% quarterly thereafter. The restricted stock units also vest over four years, with 25% vesting annually. Both grants are subject to continued employment and specific award agreements.

Positive

• Mural Oncology is attracting new talent with competitive stock-based compensation
• The company is complying with Nasdaq listing rules for inducement grants

Negative

• None.

WALTHAM, Mass. and DUBLIN, Sept. 04, 2024 (GLOBE NEWSWIRE) -- Mural Oncology plc (Nasdaq: MURA), a clinical-stage immuno-oncology company developing novel, investigational engineered cytokine therapies designed to address areas of unmet need for patients with a variety of cancers, today announced that on September 3, the Company granted to one newly hired employee (i) non-statutory stock options to purchase an aggregate of 21,500 ordinary shares of the Company and (ii) restricted stock units with respect to an aggregate of 11,500 ordinary shares of the Company, pursuant to the Company’s 2024 Inducement Stock Option and Incentive Plan, each as an inducement material to the new employees entering into employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4).

The stock options have an exercise price of $3.16 per share, which is equal to the closing price per share of the Company’s ordinary shares as reported by Nasdaq on September 3, 2024. The options have a ten-year term and vest over four years, with 25% of the original number of shares vesting on the first anniversary of August 1, 2024 and 6.25% of the shares underlying the options vesting quarterly thereafter, subject to such employee’s continued service with the Company through the applicable vesting dates. Each of the stock options is subject to the terms and conditions of a stock option award agreement covering the grant and the Company’s 2024 Inducement Stock Option and Incentive Plan. The restricted stock units vest over four years, 25% per year on the anniversary of August 1, 2024, subject to such employee’s continued service with the Company through the applicable vesting dates. Each of the restricted stock units is subject to the terms and conditions of a restricted stock award agreement covering the grant and the Company’s 2024 Inducement Stock Option and Incentive Plan.

About Mural Oncology
Mural Oncology is leveraging its novel protein engineering platform to develop cytokine-based immunotherapies for the treatment of cancer. By combining our expertise in cytokine biology and immune cell modulation and our protein engineering platform, we are developing medicines to deliver meaningful and clinical benefits to people living with cancer. Our mission is to broaden the potential and reach of cytokine-based immunotherapies to improve the lives of patients. Our lead candidate, nemvaleukin, is currently in potentially registrational trials in mucosal melanoma and platinum-resistant ovarian cancer. Mural Oncology has its registered office in Dublin, Ireland, and its primary facilities in Waltham, Mass. For more information, visit Mural Oncology’s website at www.muraloncology.com and follow us on LinkedIn and X.

Contact

Katie Sullivan
katie.sullivan@muraloncology.com

FAQ

What stock options did Mural Oncology (MURA) grant to its new employee on September 3, 2024?

Mural Oncology granted non-statutory stock options to purchase 21,500 ordinary shares with an exercise price of $3.16 per share, vesting over four years.

How many restricted stock units did Mural Oncology (MURA) issue to the new employee?

Mural Oncology issued restricted stock units with respect to 11,500 ordinary shares, vesting over four years at 25% per year.

What is the vesting schedule for the stock options granted by Mural Oncology (MURA)?

The stock options vest over four years, with 25% vesting on the first anniversary and 6.25% vesting quarterly thereafter, subject to continued employment.

Under which plan were the inducement grants made by Mural Oncology (MURA)?

The inducement grants were made under Mural Oncology's 2024 Inducement Stock Option and Incentive Plan.