Verastem Announces the Grant of Inducement Awards

BOSTON--()--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.

Contacts

Verastem, Inc.
Brian Sullivan, 781-292-4214
bsullivan@verastem.com

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