X4 Pharmaceuticals Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

X4 Pharmaceuticals (XFOR) has announced the issuance of inducement awards to new employees under its 2019 Inducement Plan. The awards, effective January 31, 2025, consist of options to purchase 450,471 shares of X4's common stock at an exercise price of $0.2030 per share, matching the closing price on April 22, 2025.

The stock options, granted in accordance with Nasdaq Listing Rule 5635(c)(4), feature a ten-year term and a four-year vesting schedule. The vesting structure includes 25% of shares vesting after 12 months, followed by monthly vesting of the remaining shares over 36 months, contingent on continued employment.

News Market Reaction

-7.00%

1 alert

-7.00% News Effect

On the day this news was published, XFOR declined 7.00%, reflecting a notable negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

BOSTON, April 23, 2025 (GLOBE NEWSWIRE) -- X4 Pharmaceuticals (Nasdaq: XFOR), a company driven to improve the lives of people with rare diseases of the immune system, today announced that, effective on January 31, 2025, the company issued inducement awards to new employees under the X4 Pharmaceuticals, Inc. 2019 Inducement Equity Incentive Plan (the “2019 Inducement Plan”). The 2019 Inducement Plan is used exclusively for the grant of equity awards to individuals who were not previously an employee of X4. The inducement awards consist of options to purchase an aggregate of 450,471 shares of X4’s common stock. These stock awards were granted as an inducement material to the new employees entering into employment with X4 in accordance with Nasdaq Listing Rule 5635(c)(4) and were approved by X4’s Compensation Committee of the Board of Directors.

The options have a ten-year term and an exercise price of $0.2030 per share, which is equal to the closing price of X4’s common stock on April 22, 2025. Each option will vest over a four-year period, with 25% of the shares vesting after 12 months and the remaining shares vesting monthly over the following 36 months, subject to the employee’s continued employment with X4 on such vesting dates. The options are subject to the terms and conditions of the 2019 Inducement Plan and the terms and conditions of an award agreement covering the grant.

About X4 Pharmaceuticals
X4 is delivering progress for patients by developing and commercializing innovative therapies for those with rare diseases of the immune system and significant unmet needs. Leveraging expertise in CXCR4 and immune system biology, X4 has successfully developed mavorixafor, an orally available CXCR4 antagonist that is currently being marketed in the U.S. as XOLREMDI^® in its first indication. The company is also evaluating additional uses of mavorixafor and is conducting a global, pivotal Phase 3 clinical trial (4WARD) in people with certain chronic neutropenic disorders. X4 is headquartered in Boston, Massachusetts. For more information, please visit www.x4pharma.com.

Investor Contact:
Daniel Ferry
Managing Director, LifeSci Advisors
daniel@lifesciadvisors.com
(617) 430-7576

FAQ

What are the key terms of XFOR's 2025 inducement stock options grant?

The grant includes options for 450,471 shares at $0.2030 per share, with 25% vesting after 12 months and the remainder vesting monthly over 36 months.

How long is the vesting period for XFOR's new employee stock options?

The options vest over a four-year period, with 25% vesting after the first year and the remaining shares vesting monthly over the following 36 months.

What is the exercise price of XFOR's April 2025 inducement stock options?

The exercise price is $0.2030 per share, equal to X4 Pharmaceuticals' closing stock price on April 22, 2025.

When do XFOR's 2025 inducement stock options expire?

The options have a ten-year term from the grant date of January 31, 2025.