Business
Karyopharm Appoints Michael Mano as Senior Vice President, General Counsel and Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
NEWTON, Mass., Dec. 15, 2020 /PRNewswire/ -- Karyopharm Therapeutics Inc. (Nasdaq: KPTI), a commercial-stage pharmaceutical company pioneering novel cancer
About this update from Karyopharm Therapeutics Inc.
[{"type":"text","content":"NEWTON, Mass., Dec. 15, 2020 /PRNewswire/ -- Karyopharm Therapeutics Inc. (Nasdaq: KPTI), a commercial-stage pharmaceutical company pioneering novel cancer therapies, today announced the appointment of Michael Mano as Senior Vice President, General Counsel. Mr. Mano brings over 15 years of legal experience and previously served as Counsel, Business Development at Biogen Inc.\n\"Michael's depth of legal experience, particularly in the public life science sector supporting partnerships, intellectual property licensing, corporate governance, and financing efforts, will be valuable to Karyopharm as we continue to grow our commercial business and work to expand the reach of XPOVIO and our other pipeline assets worldwide,\" said Michael G. Kauffman, MD, PhD, Chief Executive Officer of Karyopharm.\nPrior to Biogen, Mr. Mano served as Senior Counsel at Proskauer Rose LLP. Mr. Mano holds a Bachelor's degree from Saint Michael's College and a Juris Doctorate from Washington University in St. Louis School of Law.\nInducement Grants Under Nasdaq Listing Rule 5635(c)(4)\nIn connection with the hiring of Mr. Mano, the Compensation Committee of Karyopharm's Board of Directors granted a stock option to purchase 100,000 shares of Karyopharm's common stock to Mr. Mano, with a grant date of December 14, 2020. The stock option was granted as an inducement material to Mr. Mano entering into employment with Karyopharm in accordance with Nasdaq Listing Rule 5635(c)(4).\nThe stock option has an exercise price of $15.57 per share, the closing price of Karyopharm's common stock on December 14, 2020. The stock option vests over four years, with 25% of the total number of shares underlying the stock option vesting on the one-year anniversary of Mr. Mano's employment commencement date and 1/48th of the total number of shares vesting monthly thereafter, subject to Mr. Mano's continued service as an employee of, or other service provider to, Karyopharm through the applicable vesting dates. In addition, the stock option will be immediately exercisable in full if, on or prior to the first anniversary of the consummation of a \"change in control event,\" Mr. Mano's employment is terminated for \"good reason\" by Mr. Mano or terminated without \"cause\" by Karyopharm (as such terms are defined in the applicable stock option agreement).\nAbout XPOVIO® (selinexor)\...