NEWTON,
Mass., Jan. 2, 2025 /PRNewswire/ -- Karyopharm
Therapeutics Inc. (Nasdaq: KPTI), a commercial-stage pharmaceutical
company pioneering novel cancer therapies, today announced that the
Company granted a stock option to purchase an aggregate of 101,250
shares of Karyopharm's common stock and an aggregate of 108,540
restricted stock units (RSUs) to four newly-hired employees. These
RSU awards were granted as of December 31,
2024 (the "Grant Date") pursuant to the Company's 2022
Inducement Stock Incentive Plan, as amended, as inducements
material to the new employees entering into employment with
Karyopharm in accordance with Nasdaq Listing Rule 5635(c)(4).
The stock option has an exercise price of $0.6763 per share, the closing price of
Karyopharm's common stock on the Grant Date, and vests over
four years, with 25% of the total number of shares underlying the
stock options vesting on the one-year anniversary of the employee's
commencement date and 1/48th of the total number of shares vesting
monthly thereafter, subject to the employee's continued service as
an employee of, or other service provider to, Karyopharm through
the applicable vesting dates. Each RSU award will vest over
three years, with 33 1/3% of the shares underlying the RSU award
vesting on each of the three consecutive anniversaries of the Grant
Date. The vesting of each RSU award is subject to the employee's
continued service as an employee of, or other service provider to,
Karyopharm through the applicable vesting dates.
In addition, each stock option and RSU award will be immediately
exercisable in full if, on or prior to the first anniversary of the
consummation of a "change in control event," the employee's
employment is terminated for "good reason" by the employee or
terminated without "cause" by Karyopharm (as such terms are defined
in the 2022 Inducement Stock Incentive Plan, as amended).
About Karyopharm Therapeutics
Karyopharm Therapeutics Inc. (Nasdaq: KPTI) is a
commercial-stage pharmaceutical company whose dedication to
pioneering novel cancer therapies is fueled by a belief in the
extraordinary strength and courage of patients with cancer. Since
its founding, Karyopharm has been an industry leader in oral
compounds that address nuclear export dysregulation, a
fundamental mechanism of oncogenesis. Karyopharm's lead
compound and firstinclass, oral exportin 1 (XPO1) inhibitor,
XPOVIO® (selinexor), is approved in the U.S.
and marketed by the Company in three oncology indications. It
has also received regulatory approvals in various indications in a
growing number of exU.S. territories and countries, including
Europe and the United Kingdom (as NEXPOVIO®) and
China. Karyopharm has
a focused pipeline targeting indications in multiple high
unmet need cancers, including in multiple myeloma, endometrial
cancer, myelofibrosis, and diffuse large
B-cell lymphoma (DLBCL).
For more information about our people,
science and pipeline, please visit
www.karyopharm.com, and follow us on LinkedIn and on X at
@Karyopharm.
XPOVIO® and NEXPOVIO® are registered
trademarks of Karyopharm Therapeutics Inc.
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SOURCE Karyopharm Therapeutics Inc.
