Olema Oncology Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
Rhea-AI Summary
Olema Pharmaceuticals, a clinical-stage biopharmaceutical company focused on targeted therapies for women's cancers, has announced the granting of stock options to three new employees. These options allow the purchase of 118,800 shares of the company's common stock, effective October 1, 2024. The grants were approved by the Compensation Committee and issued under Olema's 2022 Inducement Plan, in compliance with Nasdaq Listing Rule 5635(c)(4).
The stock options have a 10-year term and an exercise price of $12.30 per share, matching the last reported sale price on October 1, 2024. They vest over four years, with 25% vesting on the first anniversary and the remainder in 36 equal monthly installments, subject to continuous employment. This announcement is made in accordance with Nasdaq Listing Rule 5635(c)(4).
Positive
- Olema Oncology is attracting new talent with stock option incentives
- The company is complying with Nasdaq listing rules, demonstrating good corporate governance
Negative
- Potential dilution of existing shareholders' equity due to new stock options
News Market Reaction
On the day this news was published, OLMA declined 4.07%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
SAN FRANCISCO, Oct. 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 three new employees to purchase an aggregate of 118,800 shares of the Company's common stock, effective as of October 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 October 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. 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.
Contact:
Geoffrey Mogilner, Investor Relations and Communications
ir@olema.com
FAQ
How many new employees received stock options from Olema Oncology (OLMA) on October 1, 2024?
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What is the vesting schedule for the stock options granted by Olema Pharmaceuticals (OLMA) on October 1, 2024?
