Septerna, Inc. Announces Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)

Septerna (SEPN) granted a non-qualified stock option for up to 275,000 common shares to newly appointed Chief Medical Officer Rajiv Patni, M.D., under its 2026 Inducement Plan, effective September 8, 2026.

Rhea-AI Summary

Septerna (SEPN) granted a non-qualified stock option for up to 275,000 common shares to newly appointed Chief Medical Officer Rajiv Patni, M.D., under its 2026 Inducement Plan, effective September 8, 2026.

The option was issued as an inducement to employment in reliance on Nasdaq Listing Rule 5635(c)(4). It has a ten-year term and an exercise price of $37.37 per share, equal to the closing price of Septerna’s common stock on the grant date. Vesting occurs over four years: 25% of the shares vest on the one-year anniversary of the vesting commencement date, and the remaining 75% vest in equal monthly installments over the following 36 months, subject to Dr. Patni’s continuous employment. The grant is governed by the 2026 Inducement Plan, approved by Septerna’s board in February 2026, and by award agreements covering the option.

Market Context

The pre-headline SEPN close was $37.97; the grant followed the Aug 25 appointment of Rajiv Patni as ...

Analysis

The pre-headline SEPN close was $37.97; the grant followed the Aug 25 appointment of Rajiv Patni as chief medical officer, linking the award to a documented leadership change.

Key Figures

Option Shares: 275,000 shares Exercise Price: $37.37 per share Option Term: 10 years +4 more

Option Shares

275,000 shares

Inducement stock option grant

Exercise Price

$37.37 per share

Grant effective September 8, 2026

Option Term

10 years

Inducement stock option

Vesting Period

4 years

Subject to continuous employment

Initial Vesting

25% of underlying shares

Vests on the one-year anniversary of the vesting commencement date

Remaining Vesting

75% of underlying shares

Vests in equal monthly installments over 36 months

Grant Effective Date

September 8, 2026

Date the inducement grant became effective

Historical Context

1 past event · Latest: Aug 25

1 event

1. Aug 25

   Leadership appointment

   24h Move

   +1.9%

   Company appointed Rajiv Patni as chief medical officer effective August 25, 2026.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

non-qualified stock option, nasdaq listing rule 5635(c)(4)

2 terms

non-qualified stock option financial

"granted a non-qualified stock option to purchase up to 275,000 shares"

A non-qualified stock option (NSO) is a contract that lets an employee or service provider buy company shares at a fixed price for a set period, like a voucher to purchase stock later at today’s price. It matters to investors because exercising NSOs creates ordinary income for the holder and can increase share count, affecting a company’s earnings and ownership mix; think of it as a future sale that can dilute existing shareholders and has immediate tax consequences for the recipient.

nasdaq listing rule 5635(c)(4) regulatory

"in accordance with Nasdaq Listing Rule 5635(c)(4)"

NASDAQ Listing Rule 5635(c)(4) is a rule that requires a company to get approval from its shareholders before selling a large amount of its shares, usually over 20%. This helps protect investors by making sure the company doesn't flood the market with new shares without their say, which could lower the stock's value.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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SOUTH SAN FRANCISCO, Calif., Sept. 10, 2026 (GLOBE NEWSWIRE) -- Septerna, Inc. (Nasdaq: SEPN), today announced that the Company granted a non-qualified stock option to purchase up to 275,000 shares of the Company’s common stock to Rajiv Patni, M.D., the Company’s newly appointed Chief Medical Officer, under the Company’s 2026 Inducement Plan (the “Inducement Plan”). The inducement grant was effective as of September 8, 2026. The award was granted as an inducement material to Dr. Patni’s employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4).

The option has an exercise price of $37.37 per share, which is equal to the closing price of the Company’s common stock on September 8, 2026, the effective date of grant. The option has a ten-year term, and will vest over four years, with 25% of the underlying shares vesting on the one-year anniversary of the applicable vesting commencement date and the remaining 75% vesting thereafter in equal monthly installments over 36 months, subject to Dr. Patni’s continuous employment through the applicable vesting dates. The option is subject to the terms and conditions of the Inducement Plan approved by the Company’s Board of Directors in February 2026 and the terms and conditions of award agreements covering the grant.

About Septerna
Septerna, Inc. is a clinical-stage biotechnology company with a world-class team of GPCR experts and drug developers advancing cutting-edge science to unlock the full potential of GPCR therapies for patients with significant unmet needs. The company’s proprietary Native Complex Platform^® is designed to enable new approaches to GPCR drug discovery and has led to the development of a diverse pipeline of novel oral small molecule drug candidates. Septerna is advancing programs in endocrinology, immunology and inflammation, metabolic diseases and additional therapeutic areas, both independently and with partners. For more information, please visit www.septerna.com.

Investor Contact:
Renee Leck, THRUST
renee@thrustsc.com

Media Contact:
Carly Scaduto, THRUST
carly@thrustsc.com