In the latest financial report from Immunome, Inc, the company reported a significant increase in the number of shares of Common Stock that may be issued pursuant to awards, with the aggregate number now standing at 2,000,000 shares. This marks a substantial uptick from the previous period.
Additionally, the company has noted specific limitations and eligibility criteria for the inducement grants under Nasdaq Marketplace Rule 5635(c)(4) or 5635(c)(3), if applicable, and the related guidance under Nasdaq IM 5635-1. This includes the granting of several types of awards such as Nonstatutory Stock Options, SARs, Restricted Stock Awards, RSU Awards, Performance Awards, and Other Awards.
Furthermore, the terms and conditions for Options and Stock Appreciation Rights (SARs) have been detailed, with options being exercisable for a period of up to ten years from the date of grant, and SARs having specific guidelines for exercise and payment of appreciation distribution.
The report also highlights the transferability restrictions for Options and SARs, with the Board having the authority to impose additional limitations on transferability or to permit transfer under certain circumstances such as a domestic relations order.
Finally, the report outlines the vesting and termination conditions for Continuous Service, with specific provisions for termination for cause, post-termination exercise periods, and restrictions on exercise.
Immunome, Inc's latest financial report underscores the company's focus on inducement grants and provides detailed insights into the specific metrics and conditions associated with these awards. Following these announcements, the company's shares moved 6.3%, and are now trading at a price of $13.24. Check out the company's full 8-K submission here.
