G1 Therapeutics announces inducement grants under Nasdaq listing rule

G1 Therapeutics announced the grant of inducement stock options exercisable for 4,650 shares of G1’s common stock and 2,400 restricted stock units to one hired employee under the Amended and Restated G1 Therapeutics, Inc. 2021 Inducement Equity Incentive Plan. These equity awards were granted as an inducement material to the new employee becoming an employee of G1 in accordance with Nasdaq Listing Rule 5635(c)(4). The Amended and Restated 2021 Plan is used exclusively for the grant of equity awards to individuals who were not previously employees of G1, as an inducement material to such individual’s entering into employment with G1, pursuant to Rule 5635(c)(4) of the Nasdaq Listing Rules. The stock options are exercisable at a price of $3.23 per share, the closing price of G1’s common stock on June 3, 2024, the grant date. The stock options have up to a ten-year term and vest over four years, with 25% of the award vesting on the first anniversary of the employee’s employment, and as to an additional 1/48th of the shares monthly thereafter, subject to continued service through the applicable vesting dates. The RSUs have a four-year term, with 25% of the award vesting on the first anniversary of the grant date, and the remainder vesting 12.5% semi-annually over the remaining three years, subject to continued service through the applicable vesting dates (subject to the terms and conditions of the RSU agreement covering the grant). The stock options and RSUs are subject to the terms and conditions of the Amended and Restated 2021 Plan.