Fulcrum Therapeutics, Inc. (Nasdaq: FULC), a clinical-stage biopharmaceutical company focused on improving the lives of patients with genetically defined rare diseases, today announced the grant of an inducement award outside of the Company’s 2019 Stock Incentive Plan to Naomi Aoki, the Company’s newly appointed SVP, Communications, and Investor Relations. The grant was approved by the Compensation Committee on September 10, 2021, as an inducement material to the employee entering into employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4).
The inducement grant consisted of a nonstatutory option to purchase up to 58,000 shares of common stock. The option has an exercise price of $28.21 per share, the closing price per share of the Company’s common stock as reported by Nasdaq on September 30, 2021. The option has a ten-year term and vests over four years, with 25% of the original number of shares vesting on the first anniversary of the employee’s start date and an additional 6.25% of the shares vesting in equal quarterly installments over the twelve successive quarters following the first anniversary, subject to such employee’s continued service with the Company through the applicable vesting dates.
Source: Biospace
