Karyopharm Therapeutics Announces Incentive Grants Under Nasdaq Listing Rule 5635(c)(4)
NEWTON, Mass., February 28, 2022 /PRNewswire/ — Karyopharm Therapeutics Inc. (Nasdaq: KPTI), a commercial-stage pharmaceutical company pioneering novel cancer therapies, today announced that the company has approved the grant of options to purchase shares to purchase a total of 168,500 shares of Karyopharm common stock and a total of 112,200 restricted stock units (RSUs) from nine newly hired employees. These share awards were granted as of February 28, 2022 (the date of grant) pursuant to the Company’s 2022 Incentive Stock Incentive Plan, as material incentives for new employees entering Karyopharm pursuant to Nasdaq listing rule 5635(c) (4).
Each of the stock options has an exercise price of $10.33 per share, the closing price of Karyopharm common stock on the date of grant. Each stock option will vest over four years, with 25% of the total number of shares underlying the stock option vesting on the first anniversary of the effective date of the stock option. employee and 1/48th of the total number of shares will vest monthly thereafter. Each RSU award will vest over four years, with 25% of the shares underlying the RSU award vesting on each of the four consecutive anniversaries of the employee’s start date. Vesting of each incentive award is subject to the employee’s continued service as an employee or other service provider of Karyopharm through the applicable vesting dates. In addition, each grant of stock options and PSUs may be exercised immediately in its entirety if, no later than the first anniversary of the consummation of a “Change of Control Event”, the employment of the Employee is terminated for “good reason” by the Employee or terminated without “cause” by Karyopharm (as such terms are defined in the applicable stock option or RSU agreement).
About Karyopharm Therapeutics
Karyopharm Therapeutics Inc. (Nasdaq: KPTI) is a commercial-stage pharmaceutical company pioneering novel cancer therapies. Since its inception, Karyopharm has been an industry leader in oral Selective Nuclear Export Inhibitor (SINE) compound technology, which was developed to address a fundamental mechanism of oncogenesis: dysregulation of nuclear export. . Karyopharm’s Lead SINE Compound and First Oral Exportin 1 (XPO1) Inhibitor, XPOVIO® (selinexor), is approved in the United States and marketed by the Company in three oncology indications and has received regulatory approvals in various indications in a growing number of ex-U.S. territories and countries, including Europe and the UK. United (as NEXTOVIO®) and China. Karyopharm has a focused pipeline targeting several high unmet need cancer indications including endometrial cancer, myelodysplastic syndromes and myelofibrosis. For more information about our people, the science and the pipeline, please visit www.karyopharm.com and follow us on Twitter at @Karyopharm and LinkedIn.
XPOVIO® and NEXPOVIO® are registered trademarks of Karyopharm Therapeutics Inc.
SOURCE Karyopharm Therapeutics Inc.