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RESEARCH TRIANGLE PARK, NC, March 01, 2022 (GLOBE NEWSWIRE) — G1 Therapeutics, Inc. (Nasdaq: GTHX), a commercial-stage oncology company, today announced the grant of exercisable incentive stock options for a total of 10,800 shares of G1 common stock and a total of 8,800 stock units (RSU) to four employees hired under G1 Therapeutics, Inc. 2021 Sales Force Inducation Equity Incentive Plan (“Sales Force Incentive Plan”). These stock awards were granted as an incentive for the new employee to become an employee of G1 pursuant to Nasdaq listing rule 5635(c)(4).
The Incentive Plan and the Sales Force Incentive Plan are used exclusively to grant stock awards to individuals who were not previously employees of G1 (or after a period of good faith Non-Employment), as inducement material for such person’s entry into employment with G1, pursuant to Rule 5635(c)(4) of the Nasdaq Listing Rules.
The stock options are exercisable at a price of $10.05 per share, the closing price of G1 common stock on March 1, 2022, the date of grant. Each stock option has a maximum term of ten years and vests over four years, with 25% of the award vesting on the employee’s first anniversary of employment, and 1/48th of the additional shares monthly thereafter, subject to service until applicable vesting dates (subject to the terms and conditions of the stock option agreement covering the award). PSUs have a four-year term, with 25% of the award vesting on the employee’s first anniversary of employment and the remainder vesting 12.5% semi-annually over the remaining three years. Stock options and PSUs are subject to the terms and conditions of the Sales Force Incentive Plan.
About G1 TherapeuticsG1 Therapeutics, Inc. is a commercial-stage biopharmaceutical company focused on developing and commercializing next-generation therapies that improve the lives of people affected by cancer, including the Company’s first commercial product, COSELA™ (trilaciclib) . G1 has an extensive clinical pipeline and is executing an independent tumor development plan evaluating COSELA in a variety of solid tumors including colorectal, breast, lung and bladder cancers. G1 Therapeutics is based in Research Triangle Park, NC For more information, please visit www.g1therapeutics.com and follow us on Twitter @G1Therapeutics.
G1 Therapeutics™ and the G1 Therapeutics logo are registered trademarks of G1 Therapeutics, Inc.
Will RobertsG1 Therapeutics, Inc.Vice President, Investor Relations and Corporate Communications(919) 907-1944 [email protected]
Source: Therapeutic G1