Full Press Release Details
WALTHAM, Mass., May 02, 2025 (GLOBE NEWSWIRE) -- Xilio Therapeutics, Inc. (Nasdaq: XLO), a clinical-stage biotechnology company discovering and developing tumor-activated immuno-oncology therapies for people living with cancer, today announced that, effective May 1, 2025, the company granted a non-qualified stock option to purchase 5,000 shares of its common stock to one new employee under Xilio Therapeutics’ 2022 Inducement Stock Incentive Plan.
The stock options have an exercise price of $0.755 per share, which is equal to the closing price of the company’s common stock on May 1, 2025. Each stock option has a ten-year term and will vest as to 25% of the shares underlying the stock option on the first anniversary following commencement of employment, and the remaining 75% of the shares underlying the stock option will vest in 36 equal monthly installments thereafter, subject to continued service with the company or any of its subsidiaries through each applicable vesting date.
The stock options are subject to the terms and conditions of Xilio Therapeutics’ 2022 Inducement Stock Incentive Plan, as well as the terms and conditions of the stock option agreement covering the grant and were made as an inducement material to the individual entering into employment with the company in accordance with Nasdaq Listing Rule 5635(c)(4).
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