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Karyopharm Therapeutics Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Wednesday, March 1, 2023 2 min read
Key Takeaway: Karyopharm Therapeutics Inc. announced the grant of 111,250 restricted stock units (RSUs) to eight newly-hired employees as part of their 2022 Inducement Stock Incentive Plan. This grant was made in accordance with Nasdaq Listing Rule 5635(c)(4) and aims to incentivize the new hires as they begin their roles. The RSUs will vest over three years, with one-third vesting each year, and include conditions related to changes in employment status.

Market Sentiment Analysis

POSITIVE FACTORS

  • Karyopharm Therapeutics is expanding its workforce by hiring new employees.
  • The inducement grants may attract talent to the company and strengthen its operations.
  • The vesting schedule incentivizes long-term commitment from new employees.

Full Press Release Details

NEWTON, Mass., March 1, 2023 /PRNewswire/ -- Karyopharm Therapeutics Inc. (Nasdaq: KPTI), a commercial-stage pharmaceutical company pioneering novel cancer therapies, today announced that the Company granted an aggregate of 111,250 restricted stock units (RSUs) to eight newly-hired employees. These RSU awards were granted as of February 28, 2023 pursuant to the Company's 2022 Inducement Stock Incentive Plan, as amended, as inducements material to the new employees entering into employment with Karyopharm in accordance with Nasdaq Listing Rule 5635(c)(4).
Each RSU award will vest over three years, with 33 1/3% percent of the shares underlying the RSU award vesting on each of the three consecutive anniversaries of the applicable employee's employment commencement date. The vesting of each RSU award is 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 RSU award 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 RSU agreement).
About Karyopharm Therapeutics
XPOVIO® and NEXPOVIO® are registered trademarks of Karyopharm Therapeutics Inc.
SOURCE Karyopharm Therapeutics Inc.

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Frequently Asked Questions

What are RSUs granted by Karyopharm?

Karyopharm granted 111,250 restricted stock units (RSUs) to eight new employees.

How do RSUs vest at Karyopharm?

RSUs vest over three years, with one-third vesting on each anniversary of employment.

What happens during a change in control event?

RSUs become fully exercisable if employment ends for 'good reason' or 'without cause.'

Who received the RSUs at Karyopharm?

Eight newly-hired employees received the RSUs as part of their employment terms.

Under what plan were the RSUs granted?

The RSUs were granted under Karyopharm's 2022 Inducement Stock Incentive Plan.

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Last updated: Mar 1, 2023