Plus Therapeutics Announces New Employment Inducement Grants
Rhea-AI Summary
Plus Therapeutics (PSTV), a clinical-stage pharmaceutical company focused on targeted radiotherapeutics for CNS cancers, has granted stock options to its new Chief Development Officer, Dr. Michael Rosol.
The equity award consists of options to purchase 30,000 shares of company common stock, with a four-year vesting schedule. One-fourth of the options will vest on the first anniversary, followed by equal monthly installments thereafter. The exercise price is set at the closing price of PSTV's common stock on February 28, 2025.
The options, granted outside the Company's 2020 Incentive Plan but with similar terms, are subject to Dr. Rosol's continued employment. The company has filed a Form S-8 for these equity awards, aiming to align the executive's interests with shareholders.
Positive
- New Chief Development Officer hired to strengthen executive team
- Stock options align management interests with shareholders
Negative
- Potential shareholder dilution from 30,000 new stock options
News Market Reaction
On the day this news was published, PSTV gained 311.43%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
HOUSTON, March 05, 2025 (GLOBE NEWSWIRE) -- Plus Therapeutics, Inc. (Nasdaq: PSTV) (“Plus” or the “Company”), a clinical-stage pharmaceutical company developing targeted radiotherapeutics with advanced platform technologies for central nervous system (CNS) cancers, today announced that on February 28, 2025, it granted option awards to Dr. Michael Rosol, the Company’s new Chief Development Officer. The Company agreed to grant these equity awards to Dr. Rosol to induce him to commence employment with the Company.
The approved option awards are options to purchase up to 30,000 shares of the common stock of the Company. The options are scheduled to vest over four years, with one-fourth of the options vesting on the first anniversary of the grant date with the remaining options vesting thereafter in equal monthly installments. The vesting of the options is also subject to certain requirements, including Dr. Rosol’s continued service as an employee of the Company through the applicable vesting dates. The exercise price of the options is equal to the closing price of the Company’s common stock on February 28, 2025, the grant date.
The Company believes that these equity grants create a strong alignment of interests between Dr. Rosol and Company shareholders. The equity awards were granted outside of the Company’s 2020 Incentive Plan but generally have terms and conditions consistent with those set forth in that plan. The Company has filed a Form S-8 covering these equity awards.
About Plus Therapeutics
Plus Therapeutics, Inc. is a clinical-stage pharmaceutical company developing targeted radiotherapeutics for difficult-to-treat cancers of the central nervous system with the potential to enhance clinical outcomes for patients. Combining image-guided local beta radiation and targeted drug delivery approaches, the Company is advancing a pipeline of product candidates with lead programs in recurrent glioblastoma (GBM) and leptomeningeal metastases (LM). The Company has built a supply chain through strategic partnerships that enable the development, manufacturing, and future potential commercialization of its products. Plus Therapeutics is led by an experienced and dedicated leadership team and has operations in key cancer clinical development hubs including Austin and San Antonio, Texas. For more information, visit https://plustherapeutics.com/.
Investor Contact
Charles Y. Huang, MBA
Director of Capital Markets and Investor Relations
Office: (202)-209-5751 | Direct (301)-728-7222
chuang@plustherapeutics.com
FAQ
How many stock options did Plus Therapeutics (PSTV) grant to Dr. Michael Rosol?
What is the vesting schedule for Dr. Rosol's stock options at Plus Therapeutics?
When was the exercise price for PSTV's new stock options determined?
What position did Dr. Michael Rosol take at Plus Therapeutics (PSTV)?
