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Verastem, Inc. (NASDAQ:VSTM) (Verastem Oncology or the Company), focused on developing and commercializing medicines to improve the survival and quality of life of cancer patients, today announced the grant of stock options to six new employees to purchase an aggregate of 193,980 shares of Verastem Oncology's common stock and 50,000 restricted stock units (RSUs) to one new employee. The awards were granted as an inducement material to the employees' acceptance of employment with Verastem Oncology in accordance with Nasdaq Listing Rule 5635(c)(4). The options have an exercise price equal to $6.515 per share, the closing price of Verastem Oncology's common stock as reported by Nasdaq on October 1, 2018. One-fourth of the shares underlying one of the employee's options will vest on the one-year anniversary of his date of hire, and thereafter, an additional 6.25% of the shares subject to the options will vest at the end of each successive three-month period, provided that the employee continues to serve as an employee of or other service provider to Verastem Oncology on each such vesting date. One-fifth of the shares underlying five of the employee's options will vest on the one-year anniversary of his or her date of hire, and thereafter, an additional 5.00% of the shares subject to the options will vest at the end of each successive three-month period, provided that the employee continues to serve as an employee of or other service provider to Verastem Oncology on each such vesting date. One-fourth of the shares underlying one of the employee's RSUs will vest on the one-year anniversary of his date of hire, and thereafter, an additional 25% of the RSUs will vest at the end of each successive year, provided that the employee continues to serve as an employee of or other service provider to Verastem Oncology on each such vesting date.
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About Verastem Oncology
Verastem Oncology (NASDAQ:VSTM) is a commercial biopharmaceutical company committed to the development and commercialization of medicines to improve the lives of patients diagnosed with cancer. We are driven by the strength, tenacity and courage of those battling cancer – single-minded in our resolve to deliver new therapies that not only keep cancer at bay, but improve the lives of patients diagnosed with cancer. Because for us, it's personal.
Our first FDA approved product is now available for the treatment of patients with certain types of indolent non-Hodgkin's lymphoma (iNHL). Our pipeline comprises product candidates that seek to treat cancer by modulating the local tumor microenvironment. For more information, please visit www.verastem.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20181005005097/en/
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.