Kura Oncology, Inc. (NASDAQ: KURA), a clinical-stage biopharmaceutical company committed to realizing the promise of precision medicines for the treatment of cancer, today announced that on September 2, the Compensation Committee of the Company’s Board of Directors granted inducement awards consisting of nonstatutory stock options to purchase 82,950 shares of common stock to seven new employees under the Company’s 2023 Inducement Option Plan, as amended.
The Compensation Committee approved the stock options as an inducement material to such employees’ employment in accordance with Nasdaq Listing Rule 5635(c)(4).
Each stock option has an exercise price equal to $7.95 per share, the closing price of the Company’s common stock on September 2, and will vest over four years, with 25% of the underlying shares vesting on the one-year anniversary of the applicable vesting commencement date and the balance of the underlying shares vesting monthly thereafter over 36 months, subject to the new employees’ continued service relationship with the Company through the applicable vesting dates.
The stock options are subject to the terms and conditions of the Company’s 2023 Inducement Option Plan, as amended, and the terms and conditions of an applicable stock option agreement covering the grant.
KURA opened Friday higher six cents to $8.19.
