What a shower!!2 Oct 2020 13:17
Sierra Oncology Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
VANCOUVER, BC, Oct. 2, 2020 /CNW/ - Sierra Oncology, Inc. (SRRA), a late-stage drug development company focused on the registration and commercialization of momelotinib, a JAK1, JAK2 & ACVR1 inhibitor for the treatment of myelofibrosis, granted stock options to two new employees, as approved by the Compensation Committee of the Company's Board of Directors, under Sierra Oncology's 2018 Equity Inducement Plan.
The 2018 Equity Inducement Plan is used exclusively for the grant of equity awards to individuals as an inducement material to such individual's entering into employment with Sierra, pursuant to Rule 5635(c)(4) of the NASDAQ Listing Rules.
The employees received, in the aggregate, options to purchase 100,000 shares of Sierra's common stock. The options have an exercise price of $10.91 per share, which is equal to the closing price of Sierra's common stock on the date of grant. Each option will vest and become exercisable as to 25% of the shares on the first anniversary of the recipient's start date, and then will vest and become exercisable as to the remaining 75% of the shares in 36 equal monthly installments following the first anniversary, in each case, subject to each such employee's continued employment with Sierra on such vesting dates. The options are subject to the terms and conditions of Sierra's 2018 Equity Inducement Plan, and the terms and conditions of the stock option agreement covering the grant.
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