SAN DIEGO, August 4, 2022 /PRNewswire/ — Mirati Therapeutics, Inc. (NASDAQ: MRTX), a clinical-stage targeted oncology company, today announced that the company has granted stock awards to 56 new employees with an expiry date. attribution of August 1, 2022, as equity incentive awards outside of the company’s 2022 stock incentive plan (but under the terms of the company’s equity incentive plan) and material to employee acceptance of a job within the company. The stock awards were approved pursuant to Nasdaq Listing Rule 5635(c)(4).
Employees received options to purchase a total of 177,751 Mirati common shares and a total of 113,172 restricted stock units (“RSUs”). Options have an exercise price of $65.79 per share, which is equal to the closing price of Mirati common stock on August 1, 2022, (the “Grant Date”). One quarter of the shares underlying the employee options will vest on the first anniversary of the grant date, then 1/48th of the shares underlying the employee options will vest monthly, so that the shares underlying the options granted to employees will fully vest on the fourth anniversary of the grant date, subject to employees remaining employed with Mirati on those vesting dates. Each RSU will vest 25% of the shares underlying the RSU grant on the first anniversary of the grant date and an additional 25% of the shares underlying the RSU grant each year by thereafter, subject to maintaining the employment of each of these employees at each acquisition Date.
About Mirati Therapeutics, Inc.
Mirati Therapeutics, Inc. is a clinical-stage biotechnology company whose mission is to discover, design and deliver breakthrough therapies to transform the lives of cancer patients and their loved ones. The company is relentlessly focused on developing therapies that address high unmet needs, including lung cancer, and advancing a pipeline of novel therapies targeting the genetic and immunological drivers of cancer. Unified for patients, Mirati’s vision is to unleash the science behind the promise of life beyond cancer. For more information about Mirati, visit us at Mirati.com or follow us on Twitter, LinkedIn and Facebook.
This press release contains forward-looking statements regarding the business of Mirati Therapeutics, Inc. (“Mirati”). Any statement describing Mirati’s goals, expectations, financial or other projections, intentions or beliefs, development plans and commercial potential of Mirati’s drug development pipeline, including without limitation adagrasib (Selective KRASG12C inhibitor), sitravatinib (TAM receptor inhibitor), MRTX1719 (MTA cooperative PRMT5), MRTX0902 (SOS1 inhibitor) and MRTX1133 (selective KRASG12D inhibitor), is a forward-looking statement and should be considered an at-risk statement. Such statements are subject to risks and uncertainties, in particular the challenges inherent in the process of discovering, developing and commercializing safe and effective new drug products for human therapeutic use, and in the effort to create a company around these drugs.
Mirati’s forward-looking statements also involve assumptions which, if they never materialize or prove to be incorrect, could cause its results to differ materially from those expressed or implied by such forward-looking statements. Although Mirati’s forward-looking statements reflect the good faith judgment of its management, such statements are based solely on facts and factors currently known to Mirati. Accordingly, you are cautioned not to rely on these forward-looking statements. These and other risks relating to Mirati’s programs are described in more detail in Mirati’s Quarterly Reports on Form 10-Q and Annual Reports on Form 10-K, which are filed with the United States Securities and Exchange Commission. States (the “SEC”) available at the SEC’s website (www.sec.gov). Mirati undertakes no obligation to update any forward-looking statements or to update the reasons why actual results could differ from those projected in the forward-looking statements, except as required by law.
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SOURCE Mirati Therapeutics, Inc.