ADVERTISEMENT
Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

Geron Reports Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)

September 16, 2021 GMT

FOSTER CITY, Calif.--(BUSINESS WIRE)--Sep 16, 2021--

Geron Corporation (Nasdaq: GERN) today reported that it has granted a non-statutory stock option to purchase an aggregate of 400,000 shares of Geron common stock as an inducement to a newly hired employee in connection with commencement of employment with the Company.

The stock option was granted on September 15, 2021 at an exercise price of $1.36 per share, which is equal to the closing price of Geron common stock on the date of grant. The stock option has a 10-year term and vests over four years, with 12.5% of the shares underlying the option vesting on the six-month anniversary of commencement of employment and the remaining shares vesting over the following 42 months in equal installments of whole shares, subject to continued employment with Geron through the applicable vesting dates. The option was granted as material inducement to employment in accordance with Nasdaq Listing Rule 5635(c)(4) and is subject to the terms and conditions of the stock option agreement covering the grant and Geron’s 2018 Inducement Award Plan, which was adopted December 14, 2018 and provides for the granting of stock options to new employees.

ADVERTISEMENT

About Geron

Geron is a late-stage clinical biopharmaceutical company focused on the development and potential commercialization of a first-in-class telomerase inhibitor, imetelstat, in hematologic myeloid malignancies. The Company currently is conducting two Phase 3 clinical trials: IMerge in lower risk myelodysplastic syndromes and IMpactMF in refractory myelofibrosis. For more information about Geron, visit www.geron.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20210916005291/en/

CONTACT: Olivia Bloom

Chief Financial Officer

investor@geron.com

media@geron.com

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA

INDUSTRY KEYWORD: BIOTECHNOLOGY PHARMACEUTICAL ONCOLOGY GENERAL HEALTH HEALTH MEDICAL DEVICES HOSPITALS GENETICS

SOURCE: Geron Corporation

Copyright Business Wire 2021.

PUB: 09/16/2021 04:30 PM/DISC: 09/16/2021 04:32 PM

http://www.businesswire.com/news/home/20210916005291/en