IDEAYA Biosciences, Inc. (NASDAQ: IDYA) is thrilled to announce that, on July 27, 2023, the Board of Directors’ Compensation Committee granted two newly hired employees an aggregate of 51,200 non-qualified stock options for the Company’s common stock.
The stock options were offered as an employment incentive under IDEAYA’s 2023 Employment Inducement Incentive Award Plan. This exciting offer serves as a major motivator for those starting their careers with IDEAYA, as outlined under the Nasdaq Listing Rule 5635(c)(4).
The 2023 Inducement Plan encourages new talent to join IDEAYA by offering equity awards as an incentive for those who have not previously been employed by us or who have been absent for a select period of time. This complies with Nasdaq Listing Rule 5635(c)(4) and helps us to build a diverse and motivated team that is committed to our mission.
IDEAYA’s stock options offer a 10-year term at an exercise price of $21.07 per share, identical to the closing price of the company’s stock on the Nasdaq Global Select Market on the date of grant. These generous options will vest over four years, with 25% vesting on the first anniversary and the remaining 75% distributed in equal monthly installments over the subsequent three years. To reap these benefits, employees must maintain their service status at IDEAYA up to each vesting date.
About IDEAYA Biosciences
At IDEAYA, we are on a mission to develop targeted therapeutics for patient populations selected using molecular diagnostics in order to battle the effects of cancer. Through our precision medicine oncology strategies, we seamlessly combine both biomarker identification and drug discovery to identify the best possible treatments for our patients.
Pioneering a new generation of precision medicine, we are focusing on synthetic lethality as our main target, offering hope to those seeking new and innovative treatments.