Olema Oncology Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
Rhea-AI Summary
Olema Pharmaceuticals (Nasdaq: OLMA), a clinical-stage biopharmaceutical company focused on targeted therapies for breast cancer, has granted stock options to three new employees. The grants, approved by the Compensation Committee and issued under the company's 2022 Inducement Plan, allow the purchase of 26,200 shares of common stock at $5.57 per share.
The options, effective January 2, 2025, have a 10-year term and vest over four years, with 25% vesting on the first anniversary and the remaining 75% vesting in 36 equal monthly installments over the following three years, contingent on continuous employment. These grants were made in accordance with Nasdaq Listing Rule 5635(c)(4) as inducement material for new employment.
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News Market Reaction
On the day this news was published, OLMA declined 6.62%, reflecting a notable negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
SAN FRANCISCO, Jan. 03, 2025 (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 breast cancer and beyond, today announced that the Company granted stock options to three new employees to purchase an aggregate of 26,200 shares of the Company's common stock, effective as of January 2, 2025. These awards were approved by the Compensation Committee of Olema’s Board of Directors and granted under the Company's 2022 Inducement Plan 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 patients living with breast cancer and beyond. Olema is advancing a pipeline of novel therapies by leveraging our deep understanding of endocrine-driven cancers, nuclear receptors, and mechanisms of acquired resistance. Our lead product candidate, palazestrant (OP-1250), is a proprietary, orally available complete estrogen receptor (ER) antagonist (CERAN) and a selective ER degrader (SERD), currently in a Phase 3 clinical trial called OPERA-01. In addition, 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.
Media and Investor Relations Contact
Courtney O’Konek
Vice President, Corporate Communications
Olema Oncology
media@olema.com
FAQ
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