Olema Oncology Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
Rhea-AI Summary
Olema Oncology (Nasdaq: OLMA), a clinical-stage biopharmaceutical company focused on targeted therapies for women's cancers, has announced the granting of stock options to two new employees. The options allow the purchase of 11,800 shares of the company's common stock, effective August 1, 2024. These awards were approved by the Compensation Committee and granted under Olema's 2022 Inducement Plan.
The stock options have a 10-year term and an exercise price of $16.46 per share, equal to the last reported sale price on August 1, 2024. They vest over four years, with 25% vesting on the first anniversary and the remainder vesting in 36 equal monthly installments, subject to continuous employment. This grant is in accordance with Nasdaq Listing Rule 5635(c)(4) as an inducement for new employees.
Positive
- Olema Oncology is attracting new talent, potentially strengthening its workforce
- The company's stock price is $16.46 per share, indicating market valuation
Negative
- Potential dilution of existing shareholders' equity due to new stock option grants
News Market Reaction
On the day this news was published, OLMA declined 1.77%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
SAN FRANCISCO, Aug. 02, 2024 (GLOBE NEWSWIRE) -- Olema Pharmaceuticals, Inc. (“Olema” or “Olema Oncology”, Nasdaq: OLMA), a clinical-stage biopharmaceutical company focused on the discovery, development, and commercialization of targeted therapies for women’s cancers, today announced that the Company granted stock options to two new employees to purchase an aggregate of 11,800 shares of the Company's common stock, effective as of August 1, 2024. These awards were approved by the Compensation Committee of Olema’s Board of Directors and granted under the Company's 2022 Inducement Plan, with a grant date of August 1, 2024, as an inducement material to the new employees entering into employment with Olema, in accordance with Nasdaq Listing Rule 5635(c)(4).
The stock options vest over four years, with 25 percent vesting on the first anniversary of the vesting commencement date for such employee and the remainder vesting in 36 equal monthly installments over the following three years, subject to the employee being continuously employed by Olema as of such vesting dates. The stock options have a 10-year term and an exercise price of
Olema is providing this information in accordance with Nasdaq Listing Rule 5635(c)(4).
About Olema Oncology
Olema Oncology is a clinical-stage biopharmaceutical company committed to transforming the standard of care and improving outcomes for women living with cancer. Olema is advancing a pipeline of novel therapies by leveraging our deep understanding of endocrine-driven cancers, nuclear receptors, and mechanisms of acquired resistance. In addition to our lead product candidate, palazestrant (OP-1250), a proprietary, orally-available complete estrogen receptor (ER) antagonist (CERAN) and a selective ER degrader (SERD), Olema is developing a potent KAT6 inhibitor (OP-3136). Olema is headquartered in San Francisco and has operations in Cambridge, Massachusetts. For more information, please visit us at www.olema.com.
Contact:
Geoffrey Mogilner, Investor Relations and Communications
ir@olema.com
FAQ
How many new employees received stock options from Olema Oncology (OLMA) on August 1, 2024?
What is the total number of shares granted in stock options by Olema Oncology (OLMA) on August 1, 2024?
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What is the vesting schedule for the stock options granted by Olema Oncology (OLMA) on August 1, 2024?
