Geron Announces New Hire Equity Grants
Geron Corporation (Nasdaq: GERN), a commercial-stage biopharmaceutical company focused on transforming the treatment of hematologic malignancies, today announced the grant of inducement equity awards to 12 newly hired employees. These awards, approved under Nasdaq Listing Rule 5635(c)(4), are designed as a material component of the compensation package for new employees, encouraging long-term commitment and alignment with shareholder interests.
In total, the company granted equity awards covering 1,551,000 shares of common stock. These include:
- Stock options to purchase 1,034,000 shares, and
- Restricted stock units (RSUs) representing 517,000 shares.
The grants were approved by the Compensation Committee of Geron’s Board of Directors and made pursuant to the company’s 2018 Inducement Award Plan, which is specifically reserved for equity awards to individuals not previously employed by Geron.
Details of the Inducement Grants
The awards were granted on April 17, 2025, with the stock options carrying an exercise price of $1.27, which was the closing price of Geron’s common stock on the Nasdaq on the date of the grant.
Each stock option has a 10-year term and follows a standard four-year vesting schedule:
- 12.5% of the shares underlying the option vest on the six-month anniversary of the employee’s start date.
- The remaining 87.5% of the shares vest in equal monthly installments over the next 42 months, provided the employee remains continuously employed through each vesting date.
The RSUs follow a four-year annual vesting schedule:
- 25% of each RSU award vests on each anniversary of the grant date, again contingent on continued service with the company.
All of the inducement awards are subject to the terms and conditions of the 2018 Inducement Award Plan and are governed by the applicable stock option and RSU agreements issued under that plan.
These grants are in accordance with Nasdaq Listing Rule 5635(c)(4), which permits the issuance of equity awards to new employees without shareholder approval as an inducement to join the company.
Strengthening the Team to Support Commercial Growth
The latest equity of awards reflect Geron’s commitment to attracting and retaining high-caliber talent as it enters a transformative phase. Following the recent approvals of RYTELO® (imetelstat)—Geron’s first-in-class telomerase inhibitor—for certain patients with lower-risk myelodysplastic syndromes (LR-MDS), the company is now focused on executing its commercial strategy and expanding clinical development.
“As we scale up our commercial and clinical operations, bringing in skilled professionals is essential,” said John Scarlett, M.D., Chairman and Chief Executive Officer of Geron. “These equity awards help ensure alignment between new team members and our long-term mission to change the course of blood cancer for patients around the world.”
About Geron Corporation
Geron Corporation is a commercial-stage biopharmaceutical company is dedicated to developing and delivering the transformative therapies for blood cancers. The company’s pioneering the approach targets telomerase, an enzyme that is abnormally active in many malignant blood cells.
Geron’s lead product, RYTELO® (imetelstat), is a first-in-class telomerase inhibitor now approved in both the United States and the European Union for adult patients with lower-risk myelodysplastic syndromes (LR-MDS) who require regular red blood cell transfusions.
Imetelstat works by targeting malignant stem and progenitor cells in the bone marrow that rely on telomerase activity for uncontrolled proliferation. By inhibiting the telomerase, imetelstat aims to disrupt the biology of these cells, ultimately leading to reduced the disease burden and improved the patient outcomes.
In addition to the commercial rollout of RYTELO, Geron is conducting a pivotal Phase 3 clinical trial in relapsed/refractory myelofibrosis (R/R MF) following the JAK-inhibitor treatment. The company is also evaluating imetelstat in other myeloid hematologic malignancies, underscoring its broad potential across the multiple blood cancers.
