Puma Biotechnology, Inc. (NASDAQ: PBYI), a biopharmaceutical company, announced that on June 3, 2022, the Compensation Committee of Puma’s Board of Directors approved the award of Restricted Incentive Stock Units covering 38,125 common shares of Puma to six new non-executive employees.
The awards were granted under Puma’s 2017 Employee Incentive Plan, which was adopted on April 27, 2017 and provides for the award of equity awards to new Puma employees. Restricted stock unit awards vest over a three-year period, with one-third of the shares underlying each award vesting on the first anniversary of the award’s vesting start date, June 1, 2022 , and one-sixth of the shares underlying each award. vest on each six-month anniversary of the vesting start date thereafter, subject to continuous service. The awards were granted as incentive materials to new employees entering employment with Puma, pursuant to Nasdaq Listing Rule 5635(c)(4).
About Puma Biotechnology
Puma Biotechnology, Inc. is a biopharmaceutical company focused on developing and commercializing innovative products to improve cancer care. Puma in-licenses worldwide development and commercialization rights to PB272 (neratinib, oral), PB272 (neratinib, intravenous) and PB357. Neratinib, oral, was approved by the U.S. Food and Drug Administration in 2017 for extended adjuvant treatment of adult patients with HER2 overexpressed/enhanced early stage breast cancer following adjuvant therapy based on trastuzumab, and is marketed in the United States as NERLYNX® (neratinib) tablets. In February 2020, NERLYNX was also approved by the FDA in combination with capecitabine for the treatment of adult patients with advanced or metastatic HER2-positive breast cancer who have previously received at least two anti-HER2-positive regimens. HER2 in the metastatic setting. NERLYNX was granted marketing authorization by the European Commission in 2018 for the extended adjuvant treatment of adult patients with hormone receptor-positive, HER2-overexpressed/amplified early-stage breast cancer who are less than one year from the end of prior adjuvant treatment with trastuzumab. NERLYNX is a registered trademark of Puma Biotechnology, Inc.