G1 Therapeutics Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
01 September 2023 - 10:15PM
G1 Therapeutics, Inc. (Nasdaq: GTHX), a commercial-stage oncology
company, today announced the grant of inducement stock options
exercisable for 6,800 shares of G1’s common stock and 3,300
restricted stock units (RSUs) to two hired employees under the
Amended and Restated G1 Therapeutics, Inc. 2021 Inducement Equity
Incentive Plan (the “Amended and Restated 2021 Plan”). These equity
awards were granted as an inducement material to the new employee
becoming an employee of G1 in accordance with Nasdaq Listing Rule
5635(c)(4).
The Amended and Restated 2021 Plan is used
exclusively for the grant of equity awards to individuals who were
not previously employees of G1 (or following a bona fide period of
non-employment), as an inducement material to such individual’s
entering into employment with G1, pursuant to Rule 5635(c)(4) of
the Nasdaq Listing Rules.
The stock options are exercisable at a price of
$1.70 per share, the closing price of G1’s common stock on
September 1, 2023, the grant date. The stock options have up to a
ten-year term and vest over four years, with 25% of the award
vesting on the first anniversary of the employee’s employment, and
as to an additional 1/48th of the shares monthly thereafter,
subject to continued service through the applicable vesting dates
(subject to the terms and conditions of the stock option agreement
covering the grant). The RSUs have a four-year term, with 25% of
the award vesting on the first anniversary of the grant date, and
the remainder vesting 12.5% semi-annually over the remaining three
years, subject to continued service through the applicable vesting
dates (subject to the terms and conditions of the RSU agreement
covering the grant). The stock options and RSUs are subject to the
terms and conditions of the Amended and Restated 2021 Plan.
About G1 TherapeuticsG1
Therapeutics, Inc. is a commercial-stage biopharmaceutical company
focused on the development and commercialization of next generation
therapies that improve the lives of those affected by cancer,
including the Company’s first commercial product, COSELA®
(trilaciclib). G1 has a deep clinical pipeline and is executing a
development plan evaluating trilaciclib in a variety of solid
tumors, including breast, lung, and bladder cancers. G1
Therapeutics is based in Research Triangle Park, N.C. For
additional information, please visit www.g1therapeutics.com and
follow us on Twitter @G1Therapeutics.
G1 Therapeutics® and the G1 Therapeutics logo and
COSELA® and the COSELA logo are trademarks of G1 Therapeutics,
Inc.
Contact:
Will RobertsG1 Therapeutics, Inc.Communications
OfficerVice President, Investor Relations and Corporate
Communications(919) 907-1944 wroberts@g1therapeutics.com
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