Deciphera Pharmaceuticals, Inc., a biopharmaceutical company focused on discovering, developing, and commercializing important new medicines to improve the lives of people with cancer, announced that in connection with the hiring of Lisa Amaya Price, Senior Vice President and Chief Human Resources Officer, the Compensation Committee of Deciphera’s Board of Directors approved the grant of a stock option to purchase 100,000 shares of Deciphera’s common stock and 25,000 restricted stock units (“RSUs”) to Ms. Amaya Price with a grant date of August 15, 2022.
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The equity awards were granted under the Company’s 2022 Inducement Plan and were made pursuant to Nasdaq Listing Rule 5635(c)(4). The grants were an inducement material to Ms. Amaya Price accepting employment with the Company. The options have a ten-year term, and the exercise price of the options is $16.64, equal to the fair market value of the Company’s common stock on the Nasdaq on August 15, 2022. The shares subject to the option vest over a four-year period, with 25 percent of the shares subject to the option vesting on the first anniversary of Ms. Amaya Price’s date of hire and the remainder vesting in equal monthly installments over three years thereafter. The 25,000 shares underlying the RSU grant will vest in equal annual installments over a three-year period, beginning on or about the one-year anniversary of the grant date. The awards are subject to the terms and conditions of their applicable equity award agreements, including having a continued relationship with the Company on the vesting date.
Deciphera is a biopharmaceutical company focused on discovering, developing, and commercializing important new medicines to improve the lives of people with cancer. We are leveraging our proprietary switch-control kinase inhibitor platform and deep expertise in kinase biology to develop a broad portfolio of innovative medicines. In addition to advancing multiple product candidates from our platform in clinical studies, QINLOCK® is Deciphera’s switch control inhibitor for the treatment of fourth-line GIST. QINLOCK is approved in Australia, Canada, China, the European Union, Hong Kong, Switzerland, Taiwan, the United Kingdom, and the United States.