Syndax Pharmaceuticals Reports Inducement Grant Under NASDAQ Listing Rule 5635(c)(4)

The award creates potential dilution through options covering up to 270,000 common shares.

Rhea-AI Summary

Syndax Pharmaceuticals (SNDX) granted new Chief Financial Officer Aaron A. Ondrey an inducement stock option covering up to 270,000 common shares. His appointment took effect November 9, 2026, following its announcement on November 2, 2026.

The option has an exercise price of $9.55 per share, matching the stock's November 9 closing price. It vests over four years: 25% on the first anniversary of the vesting commencement date, followed by 1/48th of the underlying shares monthly over 36 months. Vesting requires continued service through each applicable date. The board approved the employment inducement award under Nasdaq Listing Rule 5635(c)(4).

Positive

• None.

Negative

• Minor point. Forward-looking: it has not happened yet and may not happen.Options covering up to 270,000 common shares at a $9.55 exercise price create potential shareholder dilution.

News Explained

If exercised and shares are issued, the option would increase the share count and reduce existing holders’ percentage ownership; it is not an issuance of the 270,000 shares now.

Key Figures

Inducement stock options: Up to 270,000 shares Exercise price: $9.55 per share Vesting period: Four years +1 more

Inducement stock options

Up to 270,000 shares

Award to incoming CFO Aaron A. Ondrey

Exercise price

$9.55 per share

Set at the November 9 closing price

Vesting period

Four years

Subject to continued service

Vesting schedule

25% after one year; 1/48 monthly thereafter over 36 months

Underlying shares

Historical Context

1 past event · Latest: Nov 04

1 event

1. Nov 04

   Inducement grants

   24h Move

   -10.3%

   Five new employees received inducement options with the same four-year vesting schedule.

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

Key Terms

stock option, exercise price, vesting, nasdaq listing rule 5635(c)(4)

4 terms

stock option financial

"The stock option has an exercise price per share of $9.55"

A stock option is a contract that gives you the right to buy or sell a company's stock at a specific price within a certain time frame. People use them to potentially make money if the stock's price moves favorably or to protect against losses. It's like holding a coupon that can be used to buy or sell stock at a set price later on.

exercise price financial

"The stock option has an exercise price per share of $9.55"

The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.

vesting financial

"will vest over four years, with 25% of the underlying shares"

Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.

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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NEW YORK, Nov. 09, 2026 (GLOBE NEWSWIRE) -- Syndax Pharmaceuticals (Nasdaq: SNDX), a commercial-stage biopharmaceutical company advancing innovative cancer therapies, today announced that in connection with the hiring, announced on November 2, 2026, of Aaron A. Ondrey as Chief Financial Officer, effective November 9, 2026, Mr. Ondrey received an inducement award to purchase up to 270,000 shares of common stock. The stock option has an exercise price per share of $9.55, the closing price of the Company's common stock on the Nasdaq Global Select Market on November 9, 2026, and will vest over four years, with 25% of the underlying shares vesting on the one-year anniversary of the vesting commencement date and 1/48th of the underlying shares vesting monthly thereafter over 36 months, subject to Mr. Ondrey's continued service relationship with Syndax through the applicable vesting dates. Syndax's Board of Directors approved the award as inducement material to Mr. Ondrey's employment in accordance with NASDAQ Listing Rule 5635(c)(4).

About Syndax
Syndax Pharmaceuticals is a commercial-stage biopharmaceutical company advancing innovative cancer therapies. Highlights of the Company's pipeline include Revuforj^® (revumenib), an FDA-approved menin inhibitor, and Niktimvo™ (axatilimab-csfr), an FDA-approved monoclonal antibody that blocks the colony stimulating factor 1 (CSF-1) receptor. Fueled by our commitment to reimagining cancer care, Syndax is working to unlock the full potential of its pipeline and is conducting several clinical trials across the continuum of treatment. For more information, please visit www.syndax.com or follow the Company on X and LinkedIn.

Syndax Contact

Sharon Klahre 
Syndax Pharmaceuticals, Inc. 
sklahre@syndax.com
Tel 781.684.9827

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What stock option award did Syndax grant its new CFO Aaron Ondrey?

Aaron A. Ondrey received an inducement option to purchase up to 270,000 common shares at $9.55 per share. The option vests over four years, subject to his continued service through the applicable vesting dates.