Rigel Pharmaceuticals, Inc. 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 company's Compensation Committee. The grants, made in accordance with NASDAQ Listing Rule 5635(c)(4), consist of 46,131 stock options awarded to eight non-executive employees. These options will vest over a four-year period with a one-year cliff.

The awards were granted as material inducements for these employees entering into employment with Rigel. The company, founded in 1996 and based in South San Francisco, California, focuses on developing and providing novel therapies for patients with hematologic disorders and cancer.

Positive

• Stock options grant indicates continued company growth and hiring

Negative

• Stock options may lead to future dilution of existing shareholders

SOUTH SAN FRANCISCO, Calif., Jan. 3, 2025 /PRNewswire/ -- Rigel Pharmaceuticals, Inc. ("Rigel") (Nasdaq: RIGL) today announced that it has granted awards pursuant to the Rigel Pharmaceuticals, Inc. 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 46,131 stock options to eight 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, its marketed products and pipeline of potential products, please visit www.rigel.com. 

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

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/rigel-pharmaceuticals-inc-announces-inducement-grants-under-nasdaq-listing-rule-5635c4-302341717.html

SOURCE Rigel Pharmaceuticals, Inc.

FAQ

How many stock options did Rigel Pharmaceuticals (RIGL) grant in their January 2025 inducement awards?

Rigel Pharmaceuticals granted 46,131 stock options to eight non-executive employees.

What is the vesting schedule for RIGL's January 2025 inducement stock options?

The stock options vest over a four-year period with a one-year cliff.

How many employees received RIGL's January 2025 inducement grants?

Eight non-executive employees received the inducement grants.

Under which NASDAQ rule were RIGL's January 2025 inducement grants issued?

The inducement grants were issued under NASDAQ Listing Rule 5635(c)(4).