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

Syndax Pharmaceuticals (Nasdaq:SNDX) granted stock option inducement awards under Nasdaq Listing Rule 5635(c)(4) to four new employees on June 1, 2026.

Rhea-AI Summary

Syndax Pharmaceuticals (Nasdaq:SNDX) granted stock option inducement awards under Nasdaq Listing Rule 5635(c)(4) to four new employees on June 1, 2026. The options cover up to 66,700 shares of common stock under the 2023 Inducement Plan and vest over four years.

Argus Jun 5 session

-3.77% close to close 1.6x rel. volume Open Argus

Details

News Market Reaction – SNDX

On Jun 5, the first trading day after this news, SNDX closed 3.77% below the previous close. That session’s volume was 1.6x the stock’s average daily volume.

Data tracked by StockTitan Argus for the Jun 5 session.

Key Figures

Inducement options granted: 66,700 shares Employees receiving grants: 4 employees Vesting period: 4 years +5 more

Inducement options granted

66,700 shares

Stock options to four new employees under 2023 Inducement Plan

Employees receiving grants

4 employees

New hires receiving inducement awards

Vesting period

4 years

Stock options vest over four years

Initial cliff vesting

25%

Vests on one-year anniversary of vesting commencement date

Ongoing vesting rate

1/48 of shares monthly

Monthly vesting over remaining 36 months

Inducement plan year

2023

Grants made under the Company’s 2023 Inducement Plan

Grant date

June 1, 2026

Date inducement awards were granted

Listing rule reference

Rule 5635(c)(4)

Nasdaq Listing Rule governing inducement grants disclosure

Historical Context

5 past events · Latest: Jun 02

5 events

1. Jun 02

   Clinical data update

   24h Move

   -0.3%

   Reported strong Revuforj post‑transplant survival and PK data from ASCO 2026.

2. Jun 01

   R&D day announcement

   24h Move

   -3.8%

   Announced July R&D Day to highlight late‑stage and early‑stage oncology assets.

3. May 21

   ASCO abstracts news

   24h Move

   +0.9%

   Four Revuforj abstracts, including oral post‑transplant data, accepted for ASCO.

4. May 20

   Conference participation

   24h Move

   +3.6%

   Announced participation in several major investor healthcare conferences.

5. May 12

   EHA abstracts news

   24h Move

   -4.5%

   Highlighted 12 Revuforj abstracts accepted for EHA 2026 across AML settings.

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

Key Terms

nasdaq listing rule 5635(c)(4), inducement awards, stock options

3 terms

nasdaq listing rule 5635(c)(4) regulatory

"Reports Inducement Grants Under 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.

inducement awards financial

"the Company granted inducement awards to purchase up to 66,700 shares"

Inducement awards are special bonuses given to new employees to encourage them to join a company, often in the form of stock or money. They matter because they can motivate talented people to choose one company over another and help align their success with the company's growth. Think of it like a signing bonus to seal the deal.

stock options financial

"The stock options will vest over four years, with 25% of the underlying"

Stock options are agreements that give a person the right to buy or sell a company's stock at a specific price within a certain time frame. They are often used as a reward or incentive, similar to a coupon that can be used later if the stock price rises, allowing the holder to make a profit.

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NEW YORK, June 04, 2026 (GLOBE NEWSWIRE) -- Syndax Pharmaceuticals (Nasdaq: SNDX), a commercial-stage biopharmaceutical company advancing innovative cancer therapies, today announced that on June 1, 2026, the Company granted inducement awards to purchase up to 66,700 shares of common stock to four 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 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 inducement grants did Syndax (SNDX) announce on June 4, 2026?

Syndax announced stock option inducement awards to purchase up to 66,700 shares for four new employees. According to Syndax, these options were granted under its 2023 Inducement Plan and are intended as employment incentives.

How many shares are covered by Syndax's June 2026 inducement stock options?

The inducement stock options cover up to 66,700 shares of Syndax common stock. According to Syndax, these awards were granted to four new employees as part of its 2023 Inducement Plan and vest over a four-year schedule.

What is the vesting schedule for Syndax (SNDX) June 2026 inducement options?

Syndax’s inducement options vest over four years, with 25% vesting after one year. According to Syndax, the remaining 75% vests in equal monthly installments over the next 36 months, subject to continued service with the company.

Why did Syndax use Nasdaq Listing Rule 5635(c)(4) for the June 2026 grants?

Syndax used Nasdaq Listing Rule 5635(c)(4) to grant stock options as inducement awards for new employees. According to Syndax, these options were issued under its 2023 Inducement Plan specifically in connection with new hire employment.

Who is eligible to receive the June 2026 Syndax inducement awards?

Four new Syndax employees are eligible for the June 2026 inducement awards. According to Syndax, each employee’s options are subject to the four-year vesting schedule and require continued service to receive future vested shares.