Verastem Grants Equity Awards to 25 New Employees
The awards include 380,500 restricted stock units and options to buy 50,000 shares, with vesting spread over four years.
Key takeaways
- Verastem awarded 380,500 restricted stock units to 24 new employees.
- One new employee received options to buy 50,000 shares at an exercise price of $7.90.
Verastem Oncology awarded 380,500 restricted stock units to 24 new employees and options to buy 50,000 shares to one new employee. The company announced the grants on October 5 under Nasdaq’s inducement grant exception.
The options have an exercise price of $7.90, equal to Verastem’s closing share price on October 1, according to the company.
Both award types vest 25% on the employee’s one-year anniversary. The remaining shares vest in equal quarterly amounts over the next three years, provided the employee remains with Verastem or continues providing services on each vesting date.
This article was produced with the help of AI technology. Source: Yahoo Finance
