Sangamo Therapeutics, Inc. Reports Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)
RICHMOND, Calif., Nov. 24, 2017 /PRNewswire/ -- Sangamo Therapeutics, Inc. (NASDAQ:SGMO) announced today that the Compensation Committee of the Company's Board of Directors approved the grant effective on November 22, 2017 of inducement stock options to purchase a total of 164,000 shares of common stock to four new employees.
The stock options have an exercise price per share equal to $15.00, the fair market value on the grant date, November 22, 2017. Each stock option vests over the course of four years, with 25% vesting on the one-year anniversary of the grant date and 1/48 of the shares vesting monthly thereafter so that all of the shares subject to the stock option shall be vested on the fourth anniversary of the grant date, subject to the new employee's continued service relationship with the Company on each such date. Each stock option has a ten year term and is subject to the terms and conditions of the Company's Amended and Restated 2013 Stock Incentive Plan and the stock option agreement pursuant to which the option is granted.
The stock options were granted as an inducement material to the new employees' entering into employment with Sangamo Therapeutics in accordance with NASDAQ Listing Rule 5635(c)(4).
About Sangamo Therapeutics
Sangamo Therapeutics, Inc. is focused on translating ground-breaking science into genomic therapies that transform patients' lives using the Company's industry leading platform technologies in genome editing, gene therapy, gene regulation and cell therapy. For more information about Sangamo, visit www.sangamo.com.
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SOURCE Sangamo Therapeutics, Inc.
Released November 24, 2017