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

Rhea-AI Summary

Syndax Pharmaceuticals (NASDAQ: SNDX) announced the granting of inducement awards to two new employees under its 2023 Inducement Plan. The awards consist of stock options to purchase up to 23,900 shares of common stock. The options have a four-year vesting schedule, with 25% vesting after one year and the remaining shares vesting monthly over the following 36 months at a rate of 1/48th per month, contingent on continued employment with Syndax.

Positive

• Stock-based compensation aligns employee interests with shareholders

Negative

• Potential shareholder dilution from 23,900 new shares

WALTHAM, Mass., Dec. 3, 2024 /PRNewswire/ -- Syndax Pharmaceuticals (Nasdaq: SNDX), a commercial-stage biopharmaceutical company developing an innovative pipeline of cancer therapies, today announced that on December 1, 2024 the Company granted inducement awards to purchase up to 23,900 shares of common stock to two new employees under the Company's 2023 Inducement Plan. The stock options 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 the employee's continued service relationship with Syndax through the applicable vesting dates.

About Syndax
Syndax Pharmaceuticals is a commercial-stage biopharmaceutical company developing an innovative pipeline of 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 (formerly Twitter) and LinkedIn.

Syndax Contact

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

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SOURCE Syndax Pharmaceuticals, Inc.

FAQ

How many shares were granted in Syndax Pharmaceuticals (SNDX) December 2024 inducement awards?

Syndax Pharmaceuticals granted inducement awards to purchase up to 23,900 shares of common stock.

What is the vesting schedule for SNDX's December 2024 inducement stock options?

The stock options vest over four years, with 25% vesting after one year and 1/48th vesting monthly over the following 36 months.

How many employees received SNDX inducement grants in December 2024?

Two new employees received inducement grants under Syndax's 2023 Inducement Plan.