Biocryst Pharmaceuticals Sweetens Pot for Employees
Published: Jan 08, 2013
Troubled Research Triangle Park pharma BioCryst Pharmaceuticals Inc. (Nasdaq: BCRX) is trying to sweeten the pot for its remaining employees. According to a security filing, the company has approved special equity grants consisting of stock options and shares of restricted stock to all eligible employees. Stock to nearly all eligible employees will be vested at a rate of 50 percent per year and will be fully vested in two years. CEO Jon Stonehouse’ new incentives will vest at a rate of 25 percent per year. The new grant was made in addition to the annual equity grants already under the company’s stock incentive grant. The reason for the filing appears simple, says Ward and Smith attorney Jim Verdonik. “They want to retain key employees,” he says.