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Press release content from Business Wire. The AP news staff was not involved in its creation.
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Press release content from Business Wire. The AP news staff was not involved in its creation.

Sierra Oncology Announces Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)

October 4, 2021 GMT

SAN MATEO, Calif.--(BUSINESS WIRE)--Oct 4, 2021--

Sierra Oncology, Inc. (SRRA), a late-stage biopharmaceutical company on a mission to deliver targeted therapies that treat rare forms of cancer, granted stock options to two new employees as approved by the Compensation Committee of the Company’s Board of Directors, under Sierra Oncology’s 2018 Equity Inducement Plan. The 2018 Equity Inducement Plan is used exclusively for the grant of equity awards to individuals as an inducement material to such individuals entering into employment with Sierra, pursuant to Rule 5635(c)(4) of the NASDAQ Listing Rules.

The employees received in aggregate options to purchase a total 35,250 shares of Sierra’s common stock. A total of 27,000 options has an exercise price of $22.43 per share; the remaining 8,250 options have an exercise price of $21.92 per share. These prices are equal to the closing price of Sierra’s common stock on the respective dates of grant. The options will vest and become exercisable as to 25% of the shares on the first anniversary of the recipient’s start date, and then will vest and become exercisable as to the remaining 75% of shares in 36 equal monthly installments following the first anniversary, subject to each employee’s continued employment with Sierra on such vesting dates. The options are subject to the terms and conditions of Sierra’s 2018 Equity Inducement Plan, and the terms and conditions of the stock option agreements covering the grants.

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About Sierra Oncology
Sierra Oncology is a late-stage biopharmaceutical company on a mission to deliver targeted therapies that treat rare forms of cancer. We harness our deep scientific expertise to identify compounds that target the root cause of disease, advancing targeted therapies on the leading edge of cancer biology. Our team takes an evidence-based approach to understand the limitations of current treatments and explore new ways to change the cancer treatment paradigm. Together we are transforming promise into patient impact.

For more information, visit www.SierraOncology.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20211004005937/en/

CONTACT: Investor ContactDeDe Sheel

415.732.9828

dsheel@sierraoncology.comMedia ContactLauren Musto

615.351.7777

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lmusto@sierraoncology.com

KEYWORD: CALIFORNIA UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: BIOTECHNOLOGY PHARMACEUTICAL HEALTH ONCOLOGY

SOURCE: Sierra Oncology

Copyright Business Wire 2021.

PUB: 10/04/2021 04:14 PM/DISC: 10/04/2021 04:14 PM

http://www.businesswire.com/news/home/20211004005937/en