Rigel Announces Inducement Grants under NASDAQ Listing Rule 5635(c)(4)

Rhea-AI Summary

Rigel Pharmaceuticals (Nasdaq: RIGL) has announced the granting of inducement awards under its Inducement Plan, as approved by the Compensation Committee of Rigel's Board of Directors. These awards were granted as an inducement for employees entering into employment with Rigel, in compliance with NASDAQ Listing Rule 5635(c)(4).

The company has granted 35,944 stock options to fifteen non-executive employees. These options will vest over a four-year period with a one-year cliff. Rigel, founded in 1996 and based in South San Francisco, California, is a biotechnology company focused on discovering, developing, and providing novel therapies for patients with hematologic disorders and cancer.

Positive

• Granted stock options to 15 new non-executive employees, potentially attracting and retaining talent
• Compliance with NASDAQ Listing Rule 5635(c)(4) for inducement grants

Negative

• None.

SOUTH SAN FRANCISCO, Calif., Oct. 4, 2024 /PRNewswire/ -- Rigel Pharmaceuticals, Inc. ("Rigel") (Nasdaq: RIGL) today announced that it has granted awards pursuant to Rigel's Inducement Plan, approved by the Compensation Committee of Rigel's Board of Directors and granted as an inducement material to employees' entering into employment with Rigel, in accordance with NASDAQ Listing Rule 5635(c)(4). Specifically, Rigel granted 35,944 stock options to fifteen non-executive employees vesting over four years with a one-year cliff.

About Rigel
Rigel Pharmaceuticals, Inc. (Nasdaq: RIGL) is a biotechnology company dedicated to discovering, developing and providing novel therapies that significantly improve the lives of patients with hematologic disorders and cancer. Founded in 1996, Rigel is based in South San Francisco, California. For more information on Rigel, the company's marketed products and pipeline of potential products, visit www.rigel.com. 

Contact for Investors & Media
Rigel Pharmaceuticals, Inc.
650.624.1232
ir@rigel.com

 

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SOURCE Rigel Pharmaceuticals, Inc.

FAQ

How many stock options did Rigel Pharmaceuticals (RIGL) grant in its recent inducement awards?

Rigel Pharmaceuticals (RIGL) granted 35,944 stock options to fifteen non-executive employees as part of its recent inducement awards.

What is the vesting period for the stock options granted by Rigel Pharmaceuticals (RIGL)?

The stock options granted by Rigel Pharmaceuticals (RIGL) vest over a four-year period with a one-year cliff.

Under which NASDAQ rule did Rigel Pharmaceuticals (RIGL) grant these inducement awards?

Rigel Pharmaceuticals (RIGL) granted these inducement awards in accordance with NASDAQ Listing Rule 5635(c)(4).

What is the main focus of Rigel Pharmaceuticals (RIGL) as a biotechnology company?

Rigel Pharmaceuticals (RIGL) is focused on discovering, developing, and providing novel therapies for patients with hematologic disorders and cancer.