Cytokinetics Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
SOUTH SAN FRANCISCO, Calif., April 02, 2024 (GLOBE NEWSWIRE) -- Cytokinetics, Incorporated (Nasdaq: CYTK) today announced that on March 29, 2024 it granted stock options to purchase an aggregate of 78,000 shares of common stock to five new employees, whose employment commenced in March 2024, as a material inducement to their employment.
- SOUTH SAN FRANCISCO, Calif., April 02, 2024 (GLOBE NEWSWIRE) -- Cytokinetics, Incorporated (Nasdaq: CYTK) today announced that on March 29, 2024 it granted stock options to purchase an aggregate of 78,000 shares of common stock to five new employees, whose employment commenced in March 2024, as a material inducement to their employment.
- The stock options that were granted are subject to an exercise price of $70.11 per share, which is equal to the closing price of the Company’s common stock on March 28, 2024, and will vest over 4 years, with 1/4th of the shares underlying the employee’s option vesting on the one-year anniversary of the applicable vesting commencement date and the remaining shares thereafter vesting monthly at a rate of 1/48th of the shares underlying each employee’s option over the subsequent 36 months, subject to the new employee’s continued service with the Company.
- Each stock option has a 10-year term and is subject to the terms and conditions of the Company's Amended and Restated 2004 Equity Incentive Plan and the stock option agreement pursuant to which the option was granted.