Geron Corporation (Nasdaq: GERN) reported today that it has granted non-statutory stock options to purchase a total of 431,600 common shares of Geron as incentives for newly hired employees in connection with commencing employment with the Company.
The stock options were granted on February 17, 2021 at an exercise price of $ 1.99 per share, which is equal to the closing price of Geron’s common shares on the grant date. The stock options have a 10-year term and are consolidated over four years, with 12.5% of the shares underlying the options accruing on the sixth anniversary of the start of employment and the remaining shares accruing during the following 42 months in equal installments of the entirety. shares, subject to continued employment with Geron until the applicable award dates. The options were granted as material incentives for employment in accordance with Nasdaq Listing Rule 5635 (c) (4) and are subject to the terms and conditions of the stock option agreements covering the grants and the Plan of Award of Geron’s 2018 incentives, which was adopted on December 14, 2018 and provides for the granting of stock options to new employees.
Geron is an advanced stage clinical biopharmaceutical company focused on the development and potential commercialization of a first-of-its-kind telomerase inhibitor, imetelstat, in myeloid hematologic malignancies. The Company is currently conducting two phase 3 clinical trials: IMerge in low-risk myelodysplastic syndromes and IMpactMF in refractory myelofibrosis. To learn more about Geron, visit www.geron.com.
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