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

Rhea-AI Summary

Syndax Pharmaceuticals (Nasdaq: SNDX), a clinical stage biopharmaceutical company focused on developing cancer therapies, has announced the granting of inducement awards to nine new employees. The awards, issued on August 1, 2024, consist of stock options to purchase up to 104,600 shares of common stock under the Company's 2023 Inducement Plan.

The stock options have a four-year vesting schedule, with 25% of the shares vesting on the one-year anniversary of the vesting commencement date. The remaining shares will vest monthly at a rate of 1/48th over the following 36 months, contingent on the employee's continued service with Syndax.

Positive

• Syndax is expanding its workforce with nine new employees
• The company is using stock options as a tool to attract and retain talent

Negative

• None.

WALTHAM, Mass., Aug. 5, 2024 /PRNewswire/ -- Syndax Pharmaceuticals (Nasdaq: SNDX), a clinical stage biopharmaceutical company developing an innovative pipeline of cancer therapies, today announced that on August 1, 2024 the Company granted inducement awards to purchase up to 104,600 shares of common stock to nine 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 is a clinical stage biopharmaceutical company developing an innovative pipeline of cancer therapies. Highlights of the Company's pipeline include revumenib, a highly selective menin inhibitor, and axatilimab, a monoclonal antibody that blocks the colony stimulating factor 1 (CSF-1) receptor. 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 of common stock were granted in Syndax Pharmaceuticals' inducement awards on August 1, 2024?

Syndax Pharmaceuticals (SNDX) granted inducement awards to purchase up to 104,600 shares of common stock to nine new employees on August 1, 2024.

What is the vesting schedule for the stock options granted by Syndax Pharmaceuticals (SNDX) in August 2024?

The stock options granted by Syndax Pharmaceuticals (SNDX) in August 2024 will vest over four years, with 25% vesting after one year and the remaining 75% vesting monthly over the next 36 months, subject to continued employment.

Under which plan did Syndax Pharmaceuticals (SNDX) grant the inducement awards in August 2024?

Syndax Pharmaceuticals (SNDX) granted the inducement awards in August 2024 under the Company's 2023 Inducement Plan.

How many new employees received inducement awards from Syndax Pharmaceuticals (SNDX) on August 1, 2024?

Syndax Pharmaceuticals (SNDX) granted inducement awards to nine new employees on August 1, 2024.