BOSTON--(BUSINESS WIRE)--Mar. 1, 2019--
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 options
to purchase 239,000 shares of its common stock to eight new employees
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 $3.10 per share,
the closing price of Verastem Oncology's common stock as reported by
Nasdaq on March 1, 2019 and vest at a rate of 25% on the one-year
anniversary of his or her date of hire, and thereafter, at a rate of
6.25% of the shares subject to the options 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. Of the 50,000 RSUs granted, 10,000 will vest on the first
anniversary of his or her date of hire, and 40,000 RSUs will vest at a
rate of 25% annually on the anniversary of his or her date of hire,
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.
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Source: Verastem, Inc.
Senior Director, Investor
Relations and Corporate Communications