Karyopharm Therapeutics Reports Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)
December 04 2018 - 7:00AM
Karyopharm Therapeutics Inc. (Nasdaq: KPTI), a clinical-stage
pharmaceutical company, today announced that the Compensation
Committee of Karyopharm’s Board of Directors granted stock options
to purchase an aggregate of 180,500 shares of Karyopharm’s common
stock to eleven newly-hired employees, with a grant date of
November 30, 2018. The stock options were granted as
inducements material to the new employees entering into employment
with Karyopharm in accordance with NASDAQ Listing Rule 5635(c)(4).
Each of the stock options has an exercise price
of $10.40 per share, the closing price of Karyopharm’s common
stock on November 30, 2018. Each stock option vests over four
years, with 25% of the original number of shares underlying the
stock option vesting on the one-year anniversary of the applicable
employee’s employment commencement date and an additional 1/48th of
the shares vesting monthly thereafter, subject to the employee’s
continued service as an employee of, or other service provider to,
Karyopharm through the applicable vesting dates. In addition, each
stock option will be immediately exercisable in full if, on or
prior to the first anniversary of the consummation of a “change in
control event,” the employee’s employment is terminated for “good
reason” by the employee or terminated without “cause” by Karyopharm
(as such terms are defined in the applicable stock option
agreement).
About Karyopharm
Therapeutics
Karyopharm Therapeutics Inc. (Nasdaq:KPTI) is a
clinical-stage pharmaceutical company focused on the discovery and
development of novel first-in-class drugs directed against nuclear
transport and related targets for the treatment of cancer and other
major diseases. Karyopharm's SINE compounds function by binding
with and inhibiting the nuclear export protein XPO1 (or CRM1). In
addition to single-agent and combination activity against a variety
of human cancers, SINE compounds have also shown biological
activity in models of neurodegeneration, inflammation, autoimmune
disease, certain viruses and wound-healing. Karyopharm, which was
founded by Dr. Sharon Shacham, currently has several
investigational programs in clinical or preclinical
development.
Contacts:Karyopharm Therapeutics Inc.Ian
KarpVice President, Investor and Public Relations857-297-2241 |
ikarp@karyopharm.com
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