BioCryst reports inducement grants under Nasdaq listing rule

BioCryst Pharmaceuticals announced that the compensation committee of BioCryst’s board of directors granted 20 newly-hired employees stock options to purchase an aggregate of 287,200 shares, and restricted stock units covering an aggregate of 101,700 shares, of BioCryst common stock. The options and RSUs were granted as of January 31, 2023, as inducements material to each employee entering into employment with BioCryst. The options and RSUs were granted in accordance with Nasdaq Listing Rule 5635(c)(4). The options have an exercise price of $10.55 per share, which is equal to the closing price of BioCryst common stock on the grant date. The options and RSUs vest in four equal annual installments beginning on the one-year anniversary of the grant date, in each case subject to the new employee’s continued service with the company. Each stock option has a 10-year term. The options and RSUs are subject to the terms and conditions of BioCryst’s Inducement Equity Incentive Plan and a stock option agreement or restricted stock unit agreement, as applicable, covering the grant.