Geron announces stock option to new employee under Nasdaq Listing Rule 5635(c)(4)
17 September 2021 -

Biopharmaceutical company Geron Corporation (Nasdaq:GERN) on Thursday awarded non-statutory stock option to purchase an aggregate of 400,000 shares of its common stock to a newly hired employee in accordance with Nasdaq Listing Rule 5635(c)(4).

The company added that the stock option was granted at an exercise price of USD1.36 per share, which is equal to the closing price of its common stock on the date of grant as of 15 September 2021.

In addition, the stock option has a ten year term and was granted as material inducement to employment in the company.

Subject to continued employment with the company through the applicable vesting dates, the stock option vests over four years, with 12.5% of the shares underlying the option vesting on the six-month anniversary of commencement of employment and the remaining shares vesting over the following 42 months in equal instalments of whole shares.