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

Rhea-AI Summary

Mural Oncology (Nasdaq: MURA) has granted equity incentives to five new employees as inducement awards. The grants include 23,500 stock options with an exercise price of $3.46 per share and 12,500 restricted stock units. The stock options 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 vest 25% annually over four years. These grants were made under the company's 2024 Inducement Stock Option and Incentive Plan in accordance with Nasdaq Rule 5635(c)(4).

Positive

• Implementation of employee stock incentive program to attract and retain talent

Negative

• Potential shareholder dilution from issuance of 36,000 new shares

News Market Reaction – MURA

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-1.76% News Effect

On the day this news was published, MURA declined 1.76%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

WALTHAM, Mass and DUBLIN, Nov. 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 November 1, the Company granted to five newly hired employees (i) non-statutory stock options to purchase an aggregate of 23,500 ordinary shares of the Company and (ii) restricted stock units with respect to an aggregate of 12,500 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 $3.46 per share, which is equal to the closing price per share of the Company’s ordinary shares as reported by Nasdaq on November 1, 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 the grant date 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 the grant date, 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 new employees in November 2024?

Mural Oncology granted 23,500 stock options at $3.46 per share and 12,500 restricted stock units to five new employees on November 1, 2024.

What is the vesting schedule for MURA's November 2024 stock options?

The stock options vest over 4 years, with 25% vesting after the first year and 6.25% vesting quarterly thereafter, subject to continued employment.

How do the restricted stock units (RSUs) vest in Mural Oncology's November 2024 grant?

The restricted stock units vest over four years, with 25% vesting annually on the grant date anniversary, subject to continued employment.