A clinical-stage biopharmaceutical company, specializing in the advancement and market introduction of seralutinib for the management of pulmonary arterial hypertension (PAH) and pulmonary hypertension linked to interstitial lung disease (PH-ILD), has announced the approval of an inducement grant. The Compensation Committee of Gossamer’s Board of Directors sanctioned the grant on May 8, 2024, extending non-qualified stock option awards to three new non-executive employees. These awards enable the purchase of a cumulative 323,000 shares of the company’s common stock under the Gossamer Bio, Inc. 2023 Employment Inducement Incentive Award Plan (“2023 Inducement Plan”).
This initiative aligns with Nasdaq Listing Rule 5635(c)(4) and serves as a material incentive for the newly employed staff joining Gossamer.
The options are priced at $0.755 per share, mirroring the closing price of Gossamer’s common stock on May 8, 2024, as reported by The Nasdaq Global Select Market. With a ten-year term, these options will vest over a four-year period. Initially, 25% will vest on the first anniversary of the respective vesting commencement date, followed by successive monthly installments over 36 months, subject to the employees’ continuous employment with Gossamer on these vesting dates. The options adhere to the stipulations outlined in the 2023 Inducement Plan and a corresponding stock option agreement.
Gossamer Bio stands as a clinical-stage biopharmaceutical enterprise dedicated to advancing seralutinib for pulmonary hypertension treatment. Aspiring to lead the industry, Gossamer Bio seeks to improve the lives of individuals grappling with pulmonary hypertension.
