Business
GT Biopharma Reports Granting of Inducement Awards Under Nasdaq Listing Rule 5635(c)(4)
BRISBANE, Calif., Jan. 6, 2022 /PRNewswire/ -- GT Biopharma, Inc. (NASDAQ: GTBP), a clinical stage immuno-oncology company focused on developing innovative
About this update from Gt Biopharma, Inc.
[{"type":"text","content":"BRISBANE, Calif., Jan. 6, 2022 /PRNewswire/ -- GT Biopharma, Inc. (NASDAQ: GTBP), a clinical stage immuno-oncology company focused on developing innovative therapeutics based on the Company's proprietary natural killer (NK) cell engager, TriKE® protein biologic technology platform, today announced that the Compensation Committee of its Board of Directors approved, on December 31, 2021, the following equity compensation awards as inducements material to the following employees' acceptance of employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4):\nGavin Choy, the Company's Acting Chief Financial Officer and Chief Clinical Development Officer, received options to purchase 227,500 shares of the Company's common stock, having term of 10 years, a per share exercise price of $3.05 (the closing price of the Company's common stock as quoted on the Nasdaq Capital Market), and vesting 33% on the date of grant, 33% on the first annual anniversary of his start date, and 34% on the second annual anniversary of this start date, subject to continued service on behalf of the Company, and subject to full acceleration immediately prior to the consummation of a change of control or similar transaction.\nLeslie Bransfield, the Company's Vice President, Chemistry, Manufacturing, Controls and Pharmaceutical Sciences, received options to purchase 75,000 shares of the Company's common stock, having term of 10 years, a per share exercise price of $3.05 (the closing price of the Company's common stock as quoted on the Nasdaq Capital Market), and vesting 25% on the date of grant and 1/36th of the remaining shares on the monthly anniversary of her start date until fully vested, subject to continued service on behalf of the Company.\nKathy Quandt, the Company's Controller, received a stock award in the amount of 50,000 shares of the Company's common stock, vesting 25% on the date of grant and 1/36th of the remaining shares on the monthly anniversary of her start date until fully vested, subject to continued service on behalf of the Company, and subject to full acceleration immediately prior to the consummation of a change of control or similar transaction.\nAbout GT Biopharma, Inc.\nGT Biopharma, Inc. is a clinical stage biopharmaceutical company focused on the development and commercialization of immuno-oncology therapeutic products ...