Xilio Therapeutics Announces Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Xilio Therapeutics (XLO), a clinical-stage biotechnology company focused on tumor-activated immuno-oncology therapies, has granted stock options to a new employee. The inducement grant includes options to purchase 5,000 shares of common stock at an exercise price of $0.755 per share, equal to the closing price on May 1, 2025. The options have a ten-year term with a vesting schedule of 25% after the first year and the remaining 75% vesting monthly over three years. This grant was made under Xilio's 2022 Inducement Stock Incentive Plan in accordance with Nasdaq Listing Rule 5635(c)(4).

WALTHAM, Mass., May 02, 2025 (GLOBE NEWSWIRE) -- Xilio Therapeutics, Inc. (Nasdaq: XLO), a clinical-stage biotechnology company discovering and developing tumor-activated immuno-oncology therapies for people living with cancer, today announced that, effective May 1, 2025, the company granted a non-qualified stock option to purchase 5,000 shares of its common stock to one new employee under Xilio Therapeutics’ 2022 Inducement Stock Incentive Plan.

The stock options have an exercise price of $0.755 per share, which is equal to the closing price of the company’s common stock on May 1, 2025. Each stock option has a ten-year term and will vest as to 25% of the shares underlying the stock option on the first anniversary following commencement of employment, and the remaining 75% of the shares underlying the stock option will vest in 36 equal monthly installments thereafter, subject to continued service with the company or any of its subsidiaries through each applicable vesting date.

The stock options are subject to the terms and conditions of Xilio Therapeutics’ 2022 Inducement Stock Incentive Plan, as well as the terms and conditions of the stock option agreement covering the grant and were made as an inducement material to the individual entering into employment with the company in accordance with Nasdaq Listing Rule 5635(c)(4).

About Xilio Therapeutics
Xilio Therapeutics is a clinical-stage biotechnology company discovering and developing tumor-activated, or masked, immuno-oncology (I-O) therapies with the goal of significantly improving outcomes for people living with cancer without the systemic side effects of current I-O treatments. The company is leveraging its proprietary platform to advance a pipeline of novel, tumor-activated I-O molecules that are designed to optimize the therapeutic index by localizing anti-tumor activity within the tumor microenvironment. Learn more by visiting www.xiliotx.com and follow us on LinkedIn (Xilio Therapeutics, Inc.).

Investor and Media Contact: 
Scott Young
Vice President, Investor Relations and Corporate Communications
investors@xiliotx.com

FAQ

What stock options did Xilio Therapeutics (XLO) grant to its new employee in May 2025?

Xilio granted options to purchase 5,000 shares of common stock at $0.755 per share, with a ten-year term and graduated vesting schedule starting with 25% after the first year.

What is the vesting schedule for XLO's May 2025 inducement stock options?

The options vest 25% after the first year of employment, with the remaining 75% vesting in 36 equal monthly installments over the following three years.

What is the exercise price for Xilio Therapeutics' May 2025 inducement grant?

The exercise price is $0.755 per share, which matched XLO's closing stock price on May 1, 2025.

Under which plan were XLO's May 2025 stock options granted?

The options were granted under Xilio Therapeutics' 2022 Inducement Stock Incentive Plan, in accordance with Nasdaq Listing Rule 5635(c)(4).