BOSTON--(BUSINESS WIRE)--Oct. 5, 2018--
Verastem, Inc. (Nasdaq:VSTM) (Verastem Oncology or the Company), focused
on developing and commercializing medicines to improve the survival and
quality of life of cancer patients, today announced the grant of stock
options to six new employees to purchase an aggregate of 193,980 shares
of Verastem Oncology's common stock and 50,000 restricted stock units
(RSUs) to one new employee. The awards were granted as an inducement
material to the employees' acceptance of employment with Verastem
Oncology in accordance with Nasdaq Listing Rule 5635(c)(4). The options
have an exercise price equal to $6.515 per share, the closing price of
Verastem Oncology's common stock as reported by Nasdaq on October 1,
2018. One-fourth of the shares underlying one of the employee's options
will vest on the one-year anniversary of his date of hire, and
thereafter, an additional 6.25% of the shares subject to the options
will vest at the end of each successive three-month period, provided
that the employee continues to serve as an employee of or other service
provider to Verastem Oncology on each such vesting date. One-fifth of
the shares underlying five of the employee's options will vest on the
one-year anniversary of his or her date of hire, and thereafter, an
additional 5.00% of the shares subject to the options will vest at the
end of each successive three-month period, provided that the employee
continues to serve as an employee of or other service provider to
Verastem Oncology on each such vesting date. One-fourth of the shares
underlying one of the employee’s RSUs will vest on the one-year
anniversary of his date of hire, and thereafter, an additional 25% of
the RSUs will vest at the end of each successive year, provided that the
employee continues to serve as an employee of or other service provider
to Verastem Oncology on each such vesting date.
About Verastem Oncology
Verastem Oncology (Nasdaq: VSTM) is a commercial biopharmaceutical
company committed to the development and commercialization of medicines
to improve the lives of patients diagnosed with cancer. We are driven by
the strength, tenacity and courage of those battling cancer –
single-minded in our resolve to deliver new therapies that not only keep
cancer at bay, but improve the lives of patients diagnosed with cancer.
Because for us, it’s personal.
Our first FDA approved product is now available for the treatment of
patients with certain types of indolent non-Hodgkin’s lymphoma (iNHL).
Our pipeline comprises product candidates that seek to treat cancer by
modulating the local tumor microenvironment. For more information,
please visit www.verastem.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20181005005097/en/
Source: Verastem, Inc.
Verastem Oncology:
Brian Sullivan
Senior Director,
Corporate Development
+1 781-469-1636
bsullivan@verastem.com
or
Media:
Adam
Silverstein
FleishmanHillard
+1 917-697-9313
media@verastem.com
or
Investors:
Joseph
Rayne
Argot Partners
+1 617-340-6075
joseph@argotpartners.com
