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

November 24, 2023 at 07:00 AM EST

ⓘ This article is third-party content and does not represent the views of this site. We make no guarantees regarding its accuracy or completeness.

DURHAM, N.C., Nov. 24, 2023 (GLOBE NEWSWIRE) -- Chimerix (NASDAQ: CMRX), today announced that on November 20, 2023, the Compensation Committee of Chimerix’s Board of Directors granted an inducement award to a new employee of non-qualified stock options to purchase 150,000 shares of Chimerix’s common stock. The Compensation Committee of Chimerix’s Board of Directors approved the award as an inducement material to the new employee’s employment agreement in accordance with Nasdaq Listing rule 5635(c)(4).

The stock option has an exercise price per share equal to $1.00 per share, Chimerix’s closing trading price on November 20, 2023. The stock option has a 10-year term and will vest over four years, with one-fourth vesting on the one-year anniversary of the grant date and the remaining three-fourths vesting over the following three years in equal monthly installments. The stock option is subject to the terms of Chimerix’s 2013 Equity Incentive Plan but was granted outside of the 2013 Equity Incentive Plan.

Chimerix is a biopharmaceutical company with a mission to develop medicines that meaningfully improve and extend the lives of patients facing deadly diseases. The Company’s most advanced clinical-stage development program, ONC201, is in development for H3 K27M-mutant glioma.

CONTACTS:

Michelle LaSpaluto
919 972-7115
ir@chimerix.com

Will O’Connor
Stern Investor Relations
212-362-1200
will@sternir.com