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Rigel Pharmaceuticals, Inc. Announces Inducement Grants under NASDAQ Listing Rule 5635(c)(4)

Wednesday, July 5, 2023 1 min read
Key Takeaway: Rigel Pharmaceuticals, Inc. has announced the granting of 247,400 stock options to six non-executive employees as part of its Inducement Plan. This initiative is in accordance with NASDAQ Listing Rule 5635(c)(4) and aims to attract talent to the company. The stock options will vest over four years with a one-year cliff, providing a structured incentive for new hires.

Market Sentiment Analysis

POSITIVE FACTORS

  • Rigel granted 247,400 stock options to attract new employees.
  • The inducement plan aligns with NASDAQ regulations.
  • Stock options vesting over four years could enhance employee retention.

Full Press Release Details

SOUTH SAN FRANCISCO, Calif., July 5, 2023 /PRNewswire/ -- Rigel Pharmaceuticals, Inc. ("Rigel") (Nasdaq: RIGL) today announced that it has granted awards pursuant to the Rigel Pharmaceuticals, Inc. Inducement Plan, approved by the Compensation Committee of Rigel's Board of Directors and granted as an inducement material to employees' entering into employment with Rigel, in accordance with NASDAQ Listing Rule 5635(c)(4). Specifically, Rigel granted 247,400 stock options to six non-executive employees vesting over four years with a one-year cliff.
Rigel is providing this information in accordance with NASDAQ Listing Rule 5635(c)(4).
Rigel Pharmaceuticals, Inc. (Nasdaq: RIGL) is a biotechnology company dedicated to discovering, developing and providing novel therapies that significantly improve the lives of patients with hematologic disorders and cancer. Founded in 1996, Rigel is based in South San Francisco, California. For more information on Rigel, the Company's marketed products and pipeline of potential products, visit www.rigel.com.
Contact for Investors & Media
Rigel Pharmaceuticals, Inc.
Email: [email protected]
SOURCE Rigel Pharmaceuticals, Inc.

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Frequently Asked Questions

What stock options did Rigel grant recently?

Rigel granted 247,400 stock options to six non-executive employees.

Over what period do the stock options vest?

The stock options vest over four years with a one-year cliff.

What is the purpose of the Rigel Inducement Plan?

The Rigel Inducement Plan incentivizes new employees joining the company.

What types of therapies does Rigel focus on?

Rigel develops novel therapies for hematologic disorders and cancer.

When was Rigel Pharmaceuticals founded?

Rigel Pharmaceuticals was founded in 1996.

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Last updated: Jul 5, 2023