Rigel Pharmaceuticals, Inc. Announces Inducement Grants under NASDAQ Listing Rule 5635(c)(4)

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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 23,350 stock options and restricted stock units awarded to seven non-executive employees.

These equity awards will vest over a four-year period with a one-year cliff vesting schedule. The grants serve as inducement material for employees entering into employment with Rigel, a biotechnology company founded in 1996 that focuses on developing therapies for hematologic disorders and cancer.

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On the day this news was published, RIGL declined 2.35%, reflecting a moderate negative market reaction.

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SOUTH SAN FRANCISCO, Calif., April 4, 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 23,350 stock options and restricted stock units to seven 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

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SOURCE Rigel Pharmaceuticals, Inc.

FAQ

What type of inducement grants did Rigel Pharmaceuticals (RIGL) announce in April 2025?

Rigel announced 23,350 stock options and restricted stock units granted to seven non-executive employees, vesting over four years with a one-year cliff.

How will the inducement grants for RIGL employees vest?

The grants will vest over a four-year period with a one-year cliff vesting schedule.

How many employees received inducement grants from Rigel Pharmaceuticals in April 2025?

Seven non-executive employees received inducement grants from Rigel Pharmaceuticals.

Under which NASDAQ rule were Rigel's inducement grants approved?

The grants were approved under NASDAQ Listing Rule 5635(c)(4) as inducement material for employees entering employment with Rigel.