FOSTER CITY, Calif., January 19, 2023–(BUSINESS WIRE)–The Geron Company (Nasdaq: GERN) today reported that it has granted non-executable stock options to purchase an aggregate of 75,730 shares of Geron common stock as compensation to a newly hired employee in connection with the commencement of employment. and Company.
The stock options were granted on January 18, 2023 at an exercise price of $3.12 per share, which is equal to the closing price of Geron common stock on the date of grant. The stock option representing a total of 70,000 shares has a term of 10 years and vests over four years, with 12.5% of the shares subject to the option being based on the employee’s six months of employment and the remaining shares being granted as credit. for the next 42 months in equal installments of whole shares, subject to Geron’s continued employment on the effective purchase dates. The stock options representing a total of 5,730 shares have a term of 10 years and are fully vested upon the achievement of certain regulatory actions, subject to continued performance with Geron on the effective date of purchase. All stock options were granted as a tangible employment incentive in accordance with Nasdaq Listing Rule 5635(c)(4) and are subject to the terms and conditions of stock option agreements including grants and Geron’s 2018 Compensation Award Plan, which existed. was adopted on 14 December 2018 and provides for the grant of stock options to new employees.
Geron is a late-stage biopharmaceutical company pursuing powerful treatments that extend and enrich the lives of patients living with hematological malignancies. Our first-in-class telomerase inhibitor, imetelstat, combines Nobel Prize-winning science into a treatment that can transform the underlying drivers of disease. Geron currently has a pivotal Phase 3 clinical trial underway evaluating imetelstat in low-risk myelodysplastic syndromes (LR MDS), and relapsed/refractory myelofibrosis (MF). To learn more, visit www.geron.com or follow us on LinkedIn.
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