BOSTON--(BUSINESS WIRE)--Feb. 5, 2015--
Verastem, Inc., (NASDAQ:VSTM), focused on discovering and developing
drugs to treat cancer by the targeted killing of cancer stem cells,
announced that on February 2, 2015, the Company granted stock options to
seven new employees to purchase an aggregate of 210,000 shares of common
stock. The stock options were granted as inducements material to the new
employees entering into employment with Verastem pursuant to NASDAQ
Listing Rule 5635(c)(4).
Each of the options will vest as to 25% of the shares subject to the
option on the first anniversary of the date such new employee was hired
and as to an additional 6.25% of the shares subject to the option at the
end of each successive three month period following the first
anniversary of the date such new employee was hired provided that the
new employee continues to serve as an employee of or other service
provider to the Company on each such vesting date. The stock options
were granted with an exercise price equal to $7.22, the closing price
per share of Verastem's common stock as reported by NASDAQ on February
2, 2015, the date of grant. The terms of these options are consistent
with options granted under the Company’s 2012 Incentive Plan.
About Verastem, Inc.
Verastem, Inc. (NASDAQ:VSTM) is discovering and developing drugs to
treat cancer by the targeted killing of cancer
stem cells. Cancer stem cells are an underlying cause of tumor
recurrence and metastasis. Verastem is developing small molecule
inhibitors of signaling pathways that are critical to cancer stem cell
survival and proliferation: FAK and PI3K/mTOR.
Source: Verastem, Inc.
Brian Sullivan, 781-292-4214