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

Wednesday, May 1, 2024 2 min read
Key Takeaway: Karyopharm Therapeutics Inc. has announced the grant of 72,700 restricted stock units (RSUs) to five recently hired employees as part of its 2022 Inducement Stock Incentive Plan. These grants, effective April 30, 2024, are intended as inducements for the new hires in compliance with Nasdaq Listing Rule 5635(c)(4). The RSUs will vest over three years, contingent on the employees' continued service, and will be fully exercisable under certain conditions in the event of a change in control.

Market Sentiment Analysis

POSITIVE FACTORS

  • Karyopharm granted 72,700 RSUs to new employees, signaling growth.
  • The inducement aligns with Nasdaq Listing Rule, ensuring compliance.
  • RSUs vesting over three years promote employee retention.

Full Press Release Details

NEWTON, Mass., May 1, 2024 /PRNewswire/ -- Karyopharm Therapeutics Inc. (Nasdaq: KPTI), a commercial-stage pharmaceutical company pioneering novel cancer therapies, today announced that the Company granted an aggregate of 72,700 restricted stock units (RSUs) to five newly-hired employees. These RSU awards were granted as of April 30, 2024 (the "Grant Date") 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% of the shares underlying the RSU award vesting on each of the three consecutive anniversaries of the Grant 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 is the purpose of the RSU awards at Karyopharm?

The RSU awards are granted to five new employees as an inducement for employment.

When were the RSUs granted by Karyopharm?

The RSUs were granted on April 30, 2024, according to the Grant Date.

How long does it take for RSUs to vest at Karyopharm?

The RSUs vest over three years, with a third vesting each year.

What happens if employment is terminated before RSU vesting?

RSUs become fully exercisable upon termination for 'good reason' or without 'cause.'

Under which plan were the RSUs granted?

The RSUs were granted under the 2022 Inducement Stock Incentive Plan.

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Last updated: May 1, 2024