ImmunoGen Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
May 04 2020 - 4:05PM
Business Wire
ImmunoGen Inc., (Nasdaq: IMGN), a leader in the expanding field
of antibody-drug conjugates (ADCs) for the treatment of cancer,
today announced that on April 30, 2020 the compensation committee
of the Company’s Board of Directors granted non-qualified stock
option awards to purchase an aggregate of 38,300 shares of its
common stock to two new employees under the ImmunoGen, Inc.
Inducement Equity Incentive Plan, or the Inducement Plan. The stock
options were granted as an inducement material to the new
employees’ becoming employees of ImmunoGen in accordance with
Nasdaq Listing Rule 5635(c)(4).
The Inducement Plan is used exclusively for the grant of equity
awards to individuals who were not previously employees of
ImmunoGen (or following a bona fide period of non-employment), as
an inducement material to such individuals’ entering into
employment with ImmunoGen, pursuant to Rule 5635(c)(4) of the
Nasdaq Listing Rules.
The options have an exercise price of $4.08 per share, which is
equal to the closing price of ImmunoGen’s common stock on the
Nasdaq Global Select Market on April 30, 2020. Each option will
vest over a four-year period, with 25% of the shares vesting on the
one year anniversary of the date of grant, and thereafter an
additional 6.25% of the shares vesting on each succeeding quarterly
anniversary of the date of grant, subject to such employee’s
continued employment with ImmunoGen on such vesting dates. Each
option is subject to the terms and conditions of the Inducement
Plan and the terms and conditions of a stock option agreement
covering the grant.
ABOUT IMMUNOGEN
ImmunoGen is developing the next generation of antibody-drug
conjugates to improve outcomes for cancer patients. By generating
targeted therapies with enhanced anti-tumor activity and favorable
tolerability profiles, we aim to disrupt the progression of cancer
and offer our patients more good days. We call this our commitment
to “target a better now.”
Learn more about who we are, what we do, and how we do it at
www.immunogen.com.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200504005406/en/
INVESTOR RELATIONS AND MEDIA ImmunoGen Courtney O’Konek
781-895-0600 courtney.okonek@immunogen.com OR FTI Consulting Robert
Stanislaro 212-850-5657 robert.stanislaro@fticonsulting.com
ImmunoGen (NASDAQ:IMGN)
Historical Stock Chart
From Aug 2024 to Sep 2024
ImmunoGen (NASDAQ:IMGN)
Historical Stock Chart
From Sep 2023 to Sep 2024