Crescent Biopharma, Inc. has granted options to purchase an aggregate of 65,100 ordinary shares to three non-executive employees as equity inducement awards. The grants were approved by the independent Compensation Committee of its Board of Directors on June 25, 2026. These awards were material to each employee's acceptance of employment with Crescent Biopharma and were issued under the Crescent Biopharma, Inc. 2025 Employment Inducement Incentive Award Plan, as amended, in accordance with Nasdaq Listing Rule 5635(c)(4).

The options carry a 10-year term and an exercise price of $16.99 per share. This price equals the closing price of Crescent Biopharma’s ordinary shares as reported by Nasdaq on June 25, 2026. The awards are subject to the terms of the Inducement Plan and the specific conditions outlined in the option agreements covering each grant.

Vesting for the options is structured to encourage retention. One-fourth of the shares subject to each option will vest and become exercisable on the first anniversary of the employee’s start date. Following the initial vesting date, one-forty-eighth of the shares will vest and become exercisable monthly thereafter. All vesting is contingent upon the employee maintaining continuous service with Crescent Biopharma through the applicable vesting dates.

Details of the Inducement Awards

Crescent Biopharma is a clinical-stage biotechnology company focused on advancing therapies for cancer patients. Its pipeline includes a PD-1 x VEGF bispecific antibody and novel antibody-drug conjugates (ADCs). The company aims to develop these treatments as single agents and in combination regimens for solid tumors.

Crescent Biopharma, Inc. has granted options to purchase an aggregate of 23,550 ordinary shares to two non-executive employees as equity inducement awards. The grants were approved by the independent Compensation Committee of its Board of Directors on June 10, 2026, under the Crescent Biopharma, Inc. 2025 Employment Inducement Incentive Award Plan. These awards were material to each employee's acceptance of employment with the company, in accordance with Nasdaq Listing Rule 5635(c)(4).

The options were granted with a 10-year term and an exercise price equal to $17.57, which was the closing price per share of Crescent's ordinary shares as reported by Nasdaq on June 10, 2026. The vesting schedule for the options is structured to incentivize continued service with the company.

Vesting Schedule

The options granted to each employee vest and become exercisable according to a specific schedule. The table below outlines the vesting terms:

All vesting is subject to the employee's continuous service with Crescent through the applicable vesting dates. The options are also subject to the terms of the Inducement Plan and the terms and conditions of an option agreement covering the applicable grant.

Crescent Biopharma is a clinical-stage biotechnology company focused on advancing therapies for cancer patients. Its pipeline includes a PD-1 x VEGF bispecific antibody and novel antibody-drug conjugates (ADCs).