{"id":732656,"date":"2023-02-17T16:04:03","date_gmt":"2023-02-17T21:04:03","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/sutro-biopharma-announces-inducement-grants-under-nasdaq-listing-rule-5635c4-5\/"},"modified":"2023-02-17T16:04:03","modified_gmt":"2023-02-17T21:04:03","slug":"sutro-biopharma-announces-inducement-grants-under-nasdaq-listing-rule-5635c4-5","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/sutro-biopharma-announces-inducement-grants-under-nasdaq-listing-rule-5635c4-5\/","title":{"rendered":"Sutro Biopharma Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"left\">SOUTH SAN FRANCISCO, Calif., Feb.  17, 2023  (GLOBE NEWSWIRE) &#8212; Sutro Biopharma, Inc. (Sutro or the Company) (NASDAQ: STRO), a clinical-stage oncology company pioneering site-specific and novel-format antibody drug conjugates (ADCs), today announced that on February 15, 2023, the Compensation Committee of Sutro\u2019s Board of Directors granted 90,000 shares of Sutro Biopharma stock options and 130,000 restricted stock units (RSUs) of Sutro common stock. These grants were made as an inducement material to the employees\u2019 acceptance of employment with Sutro and were approved by the Compensation Committee of Sutro\u2019s Board of Directors in accordance with Nasdaq Listing Rule 5635(c)(4).<\/p>\n<p>The RSUs and stock options are subject to the terms and conditions of Sutro\u2019s 2021 Equity Inducement Plan. One-fourth of the total number of shares subject to the RSUs will vest on the one-year anniversary of the employee\u2019s hire date and annually thereafter until fully vested on the fourth anniversary, subject to the employee\u2019s continued service with Sutro on each such vesting date. One-fourth of the total number of shares underlying the stock options will vest on the one-year anniversary of the employee\u2019s hire date and 1\/48<sup>th<\/sup> of the total number of shares underlying the stock options will vest each month thereafter until fully vested on the fourth anniversary of the employee\u2019s hire date, subject to the employee\u2019s continued service with Sutro on each such vesting date. The stock options have a term of ten years and an exercise price equal to the closing price of Sutro\u2019s common stock on the grant date as reported by The Nasdaq Stock Market.<\/p>\n<p>\n        <strong>About<\/strong><br \/>\n        <strong>Sutro<\/strong><br \/>\n        <strong>Biopharma<\/strong>\n      <\/p>\n<p>Sutro Biopharma, Inc., headquartered in South San Francisco, is a clinical-stage oncology company pioneering site-specific and novel-format antibody drug conjugates (ADCs). Sutro has two wholly owned ADCs in the clinic\u2014luveltamab tazevibulin (STRO-002 or luvelta), a folate receptor alpha (FolR\u03b1)-targeting ADC, in clinical studies for ovarian and endometrial cancers; and STRO-001, a CD74-targeting ADC, in clinical studies for B-cell malignancies. Additionally, Sutro is collaborating with Bristol Myers Squibb (BMS) on CC-99712, a BCMA-targeting ADC in the clinic for patients with multiple myeloma; with Merck KGaA, Darmstadt, Germany, known as EMD Serono in the U.S. and Canada (EMD Serono), on M1231, a MUC1-EGFR bispecific ADC in clinical studies for patients with solid tumors, particularly non-small cell lung cancer (NSCLC) and esophageal squamous cell carcinoma; with Merck, known as MSD outside of the United States and Canada, on MK-1484, a selective IL-2 agonist in clinical studies as a monotherapy and in combination with pembrolizumab for the treatment of solid tumors; and with Astellas Pharma (Astellas) on novel modality, immunostimulatory antibody-drug conjugates (iADCs). Sutro\u2019s platform technology also enabled the spin out of Vaxcyte and the creation of VAX-24, a 24-valent pneumococcal conjugate vaccine in clinical studies for the prevention of invasive pneumococcal disease. Sutro\u2019s rational design and precise protein engineering has enabled six product candidates in the clinic. Follow Sutro on Twitter,\u202f@Sutrobio, and at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=SErkREdAmZNT4Q9xLYr0qXuliBMe41hrwEf_NLJMow5bQaeLYFxf01CNmbYPjuiKrZkuLxDKBUcW6RkiXi00LQ==\" rel=\"nofollow noopener\" target=\"_blank\"><u>www.sutrobio.com<\/u><\/a>\u00a0to learn more about our passion for changing the future of oncology.<\/p>\n<p>\n        <strong>Investor Contact<\/strong><br \/>\n        <br \/>Annie J. Chang <br \/>Sutro Biopharma<br \/>(650) 801-5728<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=v54Zv6nTIkAU67nRyPPlv2YC4ULxRzeEafdF7hR8DkJk83ZIAI7G5xtqRC6uhJpBmKfrkRsAmzX3LcKVQ4UX_WrsNCGf-A5d97yygQ-caqA=\" rel=\"nofollow noopener\" target=\"_blank\"><u>ajchang@sutrobio.com<\/u><\/a><\/p>\n<p>\n        <strong>Media Contact<\/strong><br \/>\n        <br \/>Amy Bonanno<br \/>Solebury Strategic Communications<br \/>(914) 450-0349<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=Mzbt55d4KrSRWKRbV_DgfTeKCKg8dQpA7YnYQo2sXTX7Qadbly7iT4caERnlN4Pt1RI6aM1EoyprODYwftVjmqZPw8FKphHYH3v8_AIlDRt-_ziv4SW1bH_9tKKP_Pq5\" rel=\"nofollow noopener\" target=\"_blank\"><u>abonanno@soleburystrat.com<\/u><\/a><\/p>\n<p \/>\n      <img decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODc1MTQwMSM1NDE1MzAyIzIxMjM3NjQ=\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" src=\"https:\/\/ml.globenewswire.com\/media\/NGUyNjdhYTgtMzIwNy00NmE5LWI4MWItZWZlZDI5Y2RiNmIyLTExMzUzMzU=\/tiny\/Sutro-Biopharma-Inc-.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>SOUTH SAN FRANCISCO, Calif., Feb. 17, 2023 (GLOBE NEWSWIRE) &#8212; Sutro Biopharma, Inc. (Sutro or the Company) (NASDAQ: STRO), a clinical-stage oncology company pioneering site-specific and novel-format antibody drug conjugates (ADCs), today announced that on February 15, 2023, the Compensation Committee of Sutro\u2019s Board of Directors granted 90,000 shares of Sutro Biopharma stock options and 130,000 restricted stock units (RSUs) of Sutro common stock. These grants were made as an inducement material to the employees\u2019 acceptance of employment with Sutro and were approved by the Compensation Committee of Sutro\u2019s Board of Directors in accordance with Nasdaq Listing Rule 5635(c)(4). The RSUs and stock options are subject to the terms and conditions of Sutro\u2019s 2021 Equity Inducement Plan. One-fourth of the &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/sutro-biopharma-announces-inducement-grants-under-nasdaq-listing-rule-5635c4-5\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Sutro Biopharma Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-732656","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Sutro Biopharma Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4) - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/sutro-biopharma-announces-inducement-grants-under-nasdaq-listing-rule-5635c4-5\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sutro Biopharma Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4) - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"SOUTH SAN FRANCISCO, Calif., Feb. 17, 2023 (GLOBE NEWSWIRE) &#8212; Sutro Biopharma, Inc. (Sutro or the Company) (NASDAQ: STRO), a clinical-stage oncology company pioneering site-specific and novel-format antibody drug conjugates (ADCs), today announced that on February 15, 2023, the Compensation Committee of Sutro\u2019s Board of Directors granted 90,000 shares of Sutro Biopharma stock options and 130,000 restricted stock units (RSUs) of Sutro common stock. These grants were made as an inducement material to the employees\u2019 acceptance of employment with Sutro and were approved by the Compensation Committee of Sutro\u2019s Board of Directors in accordance with Nasdaq Listing Rule 5635(c)(4). The RSUs and stock options are subject to the terms and conditions of Sutro\u2019s 2021 Equity Inducement Plan. 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(Sutro or the Company) (NASDAQ: STRO), a clinical-stage oncology company pioneering site-specific and novel-format antibody drug conjugates (ADCs), today announced that on February 15, 2023, the Compensation Committee of Sutro\u2019s Board of Directors granted 90,000 shares of Sutro Biopharma stock options and 130,000 restricted stock units (RSUs) of Sutro common stock. These grants were made as an inducement material to the employees\u2019 acceptance of employment with Sutro and were approved by the Compensation Committee of Sutro\u2019s Board of Directors in accordance with Nasdaq Listing Rule 5635(c)(4). The RSUs and stock options are subject to the terms and conditions of Sutro\u2019s 2021 Equity Inducement Plan. One-fourth of the &hellip; Continue reading \"Sutro Biopharma Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/sutro-biopharma-announces-inducement-grants-under-nasdaq-listing-rule-5635c4-5\/","og_site_name":"Market Newsdesk","article_published_time":"2023-02-17T21:04:03+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODc1MTQwMSM1NDE1MzAyIzIxMjM3NjQ=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/sutro-biopharma-announces-inducement-grants-under-nasdaq-listing-rule-5635c4-5\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/sutro-biopharma-announces-inducement-grants-under-nasdaq-listing-rule-5635c4-5\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Sutro Biopharma Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)","datePublished":"2023-02-17T21:04:03+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/sutro-biopharma-announces-inducement-grants-under-nasdaq-listing-rule-5635c4-5\/"},"wordCount":538,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/sutro-biopharma-announces-inducement-grants-under-nasdaq-listing-rule-5635c4-5\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODc1MTQwMSM1NDE1MzAyIzIxMjM3NjQ=","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/sutro-biopharma-announces-inducement-grants-under-nasdaq-listing-rule-5635c4-5\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/sutro-biopharma-announces-inducement-grants-under-nasdaq-listing-rule-5635c4-5\/","name":"Sutro Biopharma Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4) - 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