ORIC Pharmaceuticals grants inducement equity to new hires
ORIC Pharmaceuticals granted 34,800 stock options and 5,900 RSUs to two new employees as an employment inducement under Nasdaq Rule 5635(c)(4). The awards were approved by the Compensation Committee and are subject to the 2022 Inducement Equity Incentive Plan.
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ORIC Pharmaceuticals, Inc. granted a total of 34,800 non-qualified stock options and 5,900 restricted stock units to two new non-executive employees who began their employment in May 2026. The grants were made on June 1, 2026, as a material inducement to employment under Nasdaq Listing Rule 5635(c)(4). The stock options have an exercise price equal to the closing price of ORIC's common stock on the grant date.
Grant Details and Vesting
The equity awards were issued pursuant to the ORIC Pharmaceuticals, Inc. 2022 Inducement Equity Incentive Plan. Vesting is contingent upon the recipients' continued employment through the applicable vesting dates. The stock options will vest with 25% of the shares vesting on the one-year anniversary of the grant date, and the remaining shares vesting in equal monthly installments over the subsequent 36 months. The restricted stock units will vest in equal one-third increments on each of the first three anniversaries of the grant date.
| Award Type | Total Units Granted | Vesting Schedule |
|---|---|---|
| Non-qualified stock options | 34,800 | 25% at 1 year; remainder monthly over 36 months |
| Restricted stock units | 5,900 | 33.33% annually for 3 years |
Governance and Approval
The Compensation Committee of the Board of Directors approved the inducement grants. The awards are subject to the terms and conditions of the ORIC Pharmaceuticals, Inc. 2022 Inducement Equity Incentive Plan and the applicable stock option and restricted stock unit agreements. The grants were specifically authorized as an employment inducement in accordance with Nasdaq Rule 5635(c)(4).
What specific roles or expertise will these new hires bring to ORIC Pharmaceuticals?
Does this hiring signal an expansion of ORIC's pipeline or a shift in strategic focus?
How will these equity grants impact ORIC's overall capitalization and shareholder dilution?
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