Verastem Oncology Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
07/07/2022 - 07:00 AM
BOSTON --(BUSINESS WIRE)--
Verastem Oncology (Nasdaq:VSTM), a biopharmaceutical company committed to advancing new medicines for patients with cancer, today announced the grant of stock options to purchase 120,500 shares of its common stock and the grant of 80,400 restricted stock units (RSUs) to four new employees. The awards were granted pursuant to the Nasdaq inducement grant exception as an inducement material to the employees’ acceptance of employment with Verastem Oncology in accordance with Nasdaq Listing Rule 5635(c)(4). The stock options have an exercise price equal to $1.13 per share, the closing price of Verastem Oncology's common stock as reported by Nasdaq on July 1, 2022 . The stock options and RSUs that were granted to the four new employees will vest at a rate of twenty-five percent (25% ) on the one-year anniversary of the employee's date of hire, with the remaining shares vesting quarterly over the next three (3) years in equal quarterly amounts, provided the employees continue to serve as employees of or other service providers to Verastem Oncology on each such vesting date.
About Verastem Oncology
Verastem Oncology (Nasdaq: VSTM) (Verastem, Inc. ) is a development-stage biopharmaceutical company committed to the development and commercialization of new medicines to improve the lives of patients diagnosed with cancer. Our pipeline is focused on novel small molecule drugs that inhibit critical signaling pathways in cancer that promote cancer cell survival and tumor growth, including RAF/MEK inhibition and FAK inhibition. For more information, please visit www.verastem.com .
View source version on businesswire.com : https://www.businesswire.com/news/home/20220707005057/en/
Investors:
Ajay Munshi
amunshi@verastem.com
Nate LiaBraaten
nate@argotpartners.com
Media:
Lisa Buffington
lbuffington@verastem.com
Source: Verastem Oncology
VSTM Rankings
#810 Ranked by Stock Gains
VSTM Stock Data
Industry
Pharmaceutical Preparation Manufacturing
Sector
Manufacturing
Tags
Health Technology, Biotechnology, Manufacturing, Pharmaceutical Preparation Manufacturing
Country
US
City
Needham
About VSTM
verastem, inc. (nasdaq: vstm) is a biopharmaceutical company focused on discovering and developing novel drugs that selectively target cancer stem cells. cancer stem cells are an underlying cause of tumor recurrence and metastasis. verastem is translating breakthrough discoveries in cancer stem cell research into new medicines for the treatment of major cancers such as breast cancer. for more information, please visit www.versatem.com
