Syros Reports Inducement Grant to Chief Commercial Officer under Nasdaq Listing Rule 5635(c)(4)
September 28 2021 - 4:01PM
Business Wire
Syros Pharmaceuticals (Nasdaq: SYRS) ("Syros" or the "Company"),
a leader in the development of medicines that control the
expression of genes, today announced the grant of an inducement
stock option award to Conley Chee, the Company’s recently hired
Chief Commercial Officer, in accordance with Mr. Chee’s employment
offer letter. The grant was approved by the Company’s Board of
Directors and was made as a material inducement to Mr. Chee’s
acceptance of employment with the Company in accordance with Nasdaq
Listing Rule 5635(c)(4) as a component of his employment
compensation.
The inducement stock option award consists of an option to
purchase a total of 360,000 shares of the Company’s common stock
with an exercise price of $4.81, equal to the closing price of the
Company’s common stock on September 27, 2021, the date of grant.
The stock option has a 10-year term and vests over four years, with
25% of the total number of shares underlying the stock option
vesting on the one-year anniversary of Mr. Chee’s employment
commencement date and 1/48th of the total number of shares vesting
monthly thereafter, subject to Mr. Chee’s continued service with
the Company through the respective vesting dates. The inducement
stock option award is subject to the terms and conditions of the
inducement stock option award agreement covering the grant of the
inducement stock options.
About Syros Pharmaceuticals
Syros is redefining the power of small molecules to control the
expression of genes. Based on its unique ability to elucidate
regulatory regions of the genome, Syros aims to develop medicines
that provide a profound benefit for patients with diseases that
have eluded other genomics-based approaches. Syros is advancing a
robust clinical-stage pipeline, including: tamibarotene, a
first-in-class oral selective RARα agonist in RARA-positive
patients with higher-risk myelodysplastic syndrome and acute
myeloid leukemia; SY-2101, a novel oral form of arsenic trioxide in
patients with acute promyelocytic leukemia; and SY-5609, a highly
selective and potent oral CDK7 inhibitor in patients with select
solid tumors and blood cancers. Syros also has multiple preclinical
and discovery programs in oncology and monogenic diseases.
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version on businesswire.com: https://www.businesswire.com/news/home/20210928005849/en/
Media: Courtney Solberg Syros Pharmaceuticals
917-698-9253 csolberg@syros.com
Investor: Hannah Deresiewicz Stern Investor Relations,
Inc. 212-362-1200 hannah.deresiewicz@sternir.com
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