In South San Francisco, California, on June 28, 2024, IDEAYA Biosciences, Inc. (NASDAQ: IDYA) announced that the Compensation Committee of its Board of Directors granted non-qualified stock options to two newly hired employees. These stock options allow the purchase of a total of 92,000 shares of the Company’s common stock. The options were granted under the IDEAYA Biosciences, Inc. 2023 Employment Inducement Incentive Award Plan as part of the employees’ inducement to join the company.
The 2023 Inducement Plan is specifically used for granting equity awards to individuals who were not previously employed by IDEAYA or had a break in employment. The stock options have an exercise price of $34.37 per share, matching the closing price of IDEAYA’s common stock on The Nasdaq Global Select Market on the grant date. The options have a 10-year term and will vest over four years, with 25% vesting on the first anniversary and the remaining 75% vesting monthly over the following three years, contingent upon continued service to IDEAYA.
IDEAYA Biosciences is a precision medicine oncology company focused on developing targeted therapeutics for patient populations identified using molecular diagnostics. The company combines biomarker identification, validation, and drug discovery to select patients who will benefit most from its therapies. IDEAYA’s research is centered on synthetic lethality, an emerging area in precision medicine.
For more information, investors and media can contact IDEAYA Biosciences’ Senior Vice President, Head of Finance and Investor Relations, Andres Ruiz Briseno at [email protected]
(Source: IDEAYA Biosciences, Inc.)