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CTI BioPharma Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4) | ||
By: PR Newswire Association LLC. - 13 May 2021 | Back to overview list |
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SEATTLE, May 12, 2021 /PRNewswire/ -- CTI BioPharma Corp. (NASDAQ: CTIC) today announced that the Compensation Committee of its Board of Directors granted equity awards to two new employees as equity inducement awards outside of the Company's Amended and Restated 2017 Equity Incentive Plan (but under the terms of the Amended and Restated 2017 Equity Incentive Plan) and material to the employees' acceptance of employment with the company. The equity awards were approved on May 12, 2021, in accordance with Nasdaq Listing Rule 5635(c)(4). The employees received options to purchase an aggregate of 90,000 shares of CTI BioPharma common stock. The options will be issued upon each employee's commencement of employment (the "Grant Date"), and all stock options included within the equity inducement awards will have an exercise price equal to the closing price of CTI BioPharma common stock on each respective Grant Date. One-fourth of the options will vest on each anniversary of the employee's Grant Date, subject to the employee's continued employment with CTI BioPharma on such vesting dates. The options have a ten-year term. About CTI BioPharma Corp. CTI BioPharma Investor Contacts:
View original content to download multimedia:http://www.prnewswire.com/news-releases/cti-biopharma-announces-inducement-grants-under-nasdaq-listing-rule-5635c4-301290382.html SOURCE CTI BioPharma Corp. |
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