Forma Therapeutics Announces Inducement Grants Under Nasdaq Listing Rule 5635(C)(4)
Forma Therapeutics Holdings, Inc. (NASDAQ:FMTX), a clinical-stage biopharmaceutical company focused on sickle cell disease, prostate cancer and other rare hematologic diseases and cancers, today announced that its Board of Directors granted to Agustín Melián, M.D. and Linea Aspesi non-qualified stock options of 118,000 and 59,000 shares, respectively, of its common stock pursuant to Inducement Non-Qualified Stock Option Agreements (the "Stock Options") and 79,000 and 39,000 restricted stock units, respectively, pursuant to Inducement Restricted Stock Unit Agreements (the "RSUs," and together with the Stock Options, the "Inducement Grants"). On June 30, 2022, Forma announced the appointment of Dr. Melián as Executive Vice President, Head of Research and Development and of Ms. Aspesi as Senior Vice President, Chief Human Resources Officer, both effective as of July 11, 2022.
The Inducement Grants were granted on July 11, 2022. The Inducement Grants were issued outside of Forma Therapeutics' stockholder-approved equity incentive plan, pursuant to Rule 5635(c)(4) of the NASDAQ Listing Rules as an inducement material to Dr. Melián and Ms. Aspesi entering into employment with Forma. The Stock Options have an exercise price of $8.20 per share, the closing price of Forma Therapeutics' common stock on July 11, 2022, and will vest over a period of four years, with 25% of the shares underlying such option vesting on the first anniversary of the grant date and the remaining 75% vesting in thirty-six equal monthly installments thereafter. The RSUs will vest over a period of four years, with 25% of the RSUs vesting on the first anniversary of the grant date and an additional 25% of the RSUs vesting annually on each anniversary of the grant date thereafter. The Inducement Grants are subject to the terms and conditions of the forms of award agreement covering each grant.
About Forma Therapeutics
Forma Therapeutics is a clinical-stage biopharmaceutical company focused on the research, development and commercialization of novel therapeutics to transform the lives of patients with rare hematologic diseases and cancers. Our R&D engine combines deep biology insight, chemistry expertise and clinical development capabilities to create drug candidates with differentiated mechanisms of action focused on indications with high unmet need. Our work has generated a broad proprietary portfolio of programs with the potential to provide profound patient benefit. For more information, please visit www.FormaTherapeutics.com or follow us on Twitter @FORMAInc and LinkedIn.
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