RESEARCH TRIANGLE PARK, N.C., Nov. 01, 2022 (GLOBE NEWSWIRE) — G1 Therapeutics, Inc. (Nasdaq: GTHX), a commercial-stage oncology firm, at this time introduced the grant of inducement inventory choices exercisable for five,200 shares of G1’s widespread inventory and three,400 restricted inventory items (RSUs) to 1 employed worker beneath the Amended and Restated G1 Therapeutics, Inc. 2021 Inducement Equity Incentive Plan (the “Amended and Restated 2021 Plan”). These fairness awards have been granted as an inducement materials to the brand new worker’s changing into an worker of G1 in accordance with Nasdaq Listing Rule 5635(c)(4).
The Amended and Restated 2021 Plan is used solely for the grant of fairness awards to people who weren’t beforehand staff of G1 (or following a bona fide interval of non-employment), as an inducement materials to such particular person’s getting into into employment with G1, pursuant to Rule 5635(c)(4) of the Nasdaq Listing Rules.
The inventory choices are exercisable at a worth of $10.91 per share, the closing worth of G1’s widespread inventory on November 1, 2022, the grant date. The inventory choices have as much as a ten-year time period and vest over 4 years, with 25% of the award vesting on the primary anniversary of the worker’s employment, and as to a further 1/forty eighth of the shares month-to-month thereafter, topic to continued service by the relevant vesting dates (topic to the phrases and circumstances of the inventory choice settlement overlaying the grant). The RSUs have a four-year time period, with 25% of the award vesting on the primary anniversary of the grant date, and the rest vesting 12.5% semi-annually over the remaining three years, topic to continued service by the relevant vesting dates (topic to the phrases and circumstances of the RSU settlement overlaying the grant). The inventory choices and RSUs are topic to the phrases and circumstances of the Amended and Restated 2021 Plan.
About G1 Therapeutics
G1 Therapeutics, Inc. is a commercial-stage biopharmaceutical firm centered on the event and commercialization of subsequent era therapies that enhance the lives of these affected by most cancers, together with the Company’s first industrial product, COSELA® (trilaciclib). G1 has a deep scientific pipeline and is executing a tumor-agnostic improvement plan evaluating trilaciclib in quite a lot of strong tumors, together with colorectal, breast, lung, and bladder cancers. G1 Therapeutics is predicated in Research Triangle Park, N.C. For further data, please go to www.g1therapeutics.com and comply with us on Twitter @G1Therapeutics.
G1 Therapeutics® and the G1 Therapeutics brand and COSELA® and the COSELA brand are logos of G1 Therapeutics, Inc.
Contact:
Will Roberts
G1 Therapeutics, Inc.
Vice President, Investor Relations and Corporate Communications
(919) 907-1944
[email protected]
