Sangamo Therapeutics, Inc. Reports Inducement Grant Under NASDAQ Listing Rule 5635(c)(4)
Published: Mar 02, 2018
RICHMOND, Calif., March 2, 2018 /PRNewswire/ -- Sangamo Therapeutics, Inc. (Nasdaq: SGMO) announced today that the Compensation Committee of the Company's Board of Directors has approved the grant effective on February 28, 2018 of inducement stock options to purchase 200,000 shares of common stock to Heather D. Turner, J.D., Senior Vice President and General Counsel.
The stock options have an exercise price per share equal to $23.95, the fair market value on the grant date, February 28, 2018. Each stock option vests over the course of four years, with 25% vesting on the one-year anniversary of her start date, February 12, 2018, and 1/48 of the shares vesting monthly thereafter so that all of the shares subject to the stock option shall be vested on the fourth anniversary of the start date, subject to Ms. Turner's continued service relationship with the Company on each such date. The stock option has a ten year term and is subject to the terms and conditions of the Company's Amended and Restated 2013 Stock Incentive Award Plan and the stock option agreement pursuant to which the option is granted.
The stock options were granted as an inducement material to Ms. Turner entering into employment with Sangamo Therapeutics in accordance with NASDAQ Listing Rule 5635(c)(4).
About Sangamo Therapeutics
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SOURCE Sangamo Therapeutics, Inc.
Company Codes: NASDAQ-NMS:SGMO