IDEAYA Biosciences, Inc. (NASDAQ: IDYA), a precision medicine oncology company on a mission to uncover and develop targeted therapeutics, today announced a major grant of non-qualified stock options to a newly-hired employee.
On May 25, 2023, the Compensation Committee of IDEAYA’s Board of Directors awarded 17,800 shares of the Company’s common stock as an incentive under the IDEAYA Biosciences, Inc. 2023 Employment Inducement Incentive Award Plan. This remarkable grant is sure to motivate and celebrate the arrival of a talented individual into the IDEAYA Biosciences family.
The 2023 Inducement Plan offers equity awards to those who are joining IDEAYA, either as entirely new employees or after a period of non-employment. This incentive plan is created in alignment with Nasdaq Listing Rule 5635(c)(4), providing prospective employees with a valuable reward for their commitment.
IDEAYA has granted its employees stock options with an exercise price of $21.63 per share – equal to the closing price of IDEAYA’s common stock on The Nasdaq Global Select Market on the date of grant. These options are valid for a 10-year period, with 25% of the options vesting on the first anniversary of the vesting commencement date and the remaining 75% vesting each month over the next three years – provided the employee remains in service to IDEAYA on each vesting date.
About IDEAYA Biosciences
At IDEAYA, we’re passionate about redefining the future of oncology. Our precision medicine approach blends molecular diagnostics with targeted therapies to create more personalized treatments for our patients.
With this approach, we’re harnessing the potential of synthetic lethality to deliver breakthrough treatments at the forefront of precision medicine. We believe that everyone deserves access to the most advanced and effective treatments for cancer, and our mission is to make it a reality.