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

Tuesday, October 1, 2024 2 min read
Key Takeaway: Karyopharm Therapeutics Inc. has granted a total of 17,000 restricted stock units (RSUs) to three new employees as part of their inducement strategy under Nasdaq Listing Rule 5635(c)(4). These grants are intended to attract talent and will vest over three years, contingent on the employees' continued service. Additionally, provisions exist for early vesting if certain conditions related to employment termination are met. This move supports Karyopharm's expansion efforts as it continues to develop its innovative cancer therapies.

Market Sentiment Analysis

POSITIVE FACTORS

  • Karyopharm is expanding its workforce by hiring new employees.
  • The company is utilizing its 2022 Inducement Stock Incentive Plan to attract talent.
  • The RSUs granted offer a structured vesting schedule, incentivizing long-term commitments.

Full Press Release Details

NEWTON, Mass., Oct. 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 17,000 restricted stock units (RSUs) to three newly-hired employees. These RSU awards were granted as of September 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 are the RSUs granted by Karyopharm?

Karyopharm granted 17,000 RSUs to three new employees as of September 30, 2024.

What is the vesting period for Karyopharm's RSUs?

The RSUs will vest over three years, at 33 1/3% each year on the anniversary of the grant.

What happens upon a change in control event?

If employment ends for 'good reason' or without 'cause,' the RSUs become immediately exercisable.

Who are the RSUs granted to?

The RSUs were awarded to three newly-hired employees at Karyopharm.

What plan governs the RSU grants?

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

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Last updated: Oct 1, 2024