Ziopharm reports inducement grant under Nasdaq listing rule
Ziopharm Oncology reported that the Company granted a new employee an option to purchase an aggregate of 65,000 shares of Ziopharm's common stock effective August 19, 2019. The options were granted as an inducement material to such employee's entering into employment with Ziopharm in accordance with Nasdaq Listing Rule 5635(c)(4). The option has an exercise price of $5.18 per share, the closing price of the Company's common stock on August 19, 2019. The option has a ten-year term and vests over four years, subject to the new employee's continued service with the Company on each applicable vesting date. The option is subject to the terms and conditions of the Company's Amended and Restated 2012 Equity Incentive Plan, and the terms and conditions of a stock option agreement covering the grant.