{"id":744890,"date":"2023-04-03T16:33:08","date_gmt":"2023-04-03T20:33:08","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/immunogen-announces-inducement-grants-under-nasdaq-listing-rule-5635c4-25\/"},"modified":"2023-04-03T16:33:08","modified_gmt":"2023-04-03T20:33:08","slug":"immunogen-announces-inducement-grants-under-nasdaq-listing-rule-5635c4-25","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/immunogen-announces-inducement-grants-under-nasdaq-listing-rule-5635c4-25\/","title":{"rendered":"ImmunoGen Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)"},"content":{"rendered":"<p>        <!--body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p><b>ImmunoGen Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)<\/b><\/p>\n<p>WALTHAM, Mass.&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.immunogen.com&amp;esheet=53372272&amp;newsitemid=20230403005180&amp;lan=en-US&amp;anchor=ImmunoGen%2C+Inc.&amp;index=1&amp;md5=c92641a81fe19bab64df2f067b559559\">ImmunoGen, Inc.<\/a>, (Nasdaq: IMGN), a leader in the expanding field of antibody-drug conjugates (ADCs) for the treatment of cancer, today announced that on March 31, 2023, the Compensation Committee of the Company\u2019s Board of Directors approved, in aggregate, grants of non-qualified stock option awards to purchase 106,600 shares of its common stock and restricted stock units (\u201cRSUs\u201d) covering 7,800 shares of its common stock to three new employees under the ImmunoGen, Inc. Inducement Equity Incentive Plan, as amended (the \u201cInducement Plan\u201d).\n<\/p>\n<p>\nThe Inducement Plan is used exclusively for the grant of equity awards to individuals who were not previously employees of ImmunoGen (or following a bona fide period of non-employment), as an inducement material to such individual\u2019s entering into employment with ImmunoGen, pursuant to Rule 5635(c)(4) of the Nasdaq Listing Rules.\n<\/p>\n<p>\nThe options have an exercise price of $3.84 per share, which is equal to the closing price of ImmunoGen\u2019s common stock on the Nasdaq Global Select Market on March 31, 2023. Each option will vest as to 25% of the shares underlying such option on the first anniversary of the grant date and as to an additional 6.25% of the shares underlying the option quarterly thereafter, subject to each such employee\u2019s continued employment on each vesting date. Each RSU will vest as to 25% of the shares underlying the RSU award on the first anniversary of the grant date and as to an additional 25% of the shares underlying the RSU award annually thereafter, subject to such employee\u2019s continued employment on each such vesting date. Each option and RSU is subject to the terms and conditions of the Inducement Plan and the terms and conditions of a stock option agreement and an RSU agreement covering the respective grants.\n<\/p>\n<p><b>ABOUT IMMUNOGEN<\/b><\/p>\n<p>\nImmunoGen is developing the next generation of antibody-drug conjugates to improve outcomes for cancer patients. By generating targeted therapies with enhanced anti-tumor activity and favorable tolerability profiles, we aim to disrupt the progression of cancer and offer our patients more good days. We call this our commitment to TARGET A BETTER NOW\u2122.\n<\/p>\n<p>\nLearn more about who we are, what we do, and how we do it at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.immunogen.com&amp;esheet=53372272&amp;newsitemid=20230403005180&amp;lan=en-US&amp;anchor=www.immunogen.com&amp;index=2&amp;md5=d6751805431b29dc65092539cdcaecbf\">www.immunogen.com<\/a>.\n<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20230403005180r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20230403005180\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20230403005180\/en\/<\/a><\/span><\/p>\n<p><b>INVESTOR RELATIONS<br \/>\n<\/b><br \/>ImmunoGen<br \/>\n<br \/>Anabel Chan<br \/>\n<br \/>781-895-0600<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:anabel.chan@immunogen.com\">anabel.chan@immunogen.com<\/a><\/p>\n<p><b>MEDIA<br \/>\n<\/b><br \/>ImmunoGen<br \/>\n<br \/>Courtney O\u2019Konek<br \/>\n<br \/>781-895-0600<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:courtney.okonek@immunogen.com\">courtney.okonek@immunogen.com<\/a><\/p>\n<p>\nOR\n<\/p>\n<p>\nFTI Consulting<br \/>\n<br \/>Robert Stanislaro<br \/>\n<br \/>212-850-5657<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:robert.stanislaro@fticonsulting.com\">robert.stanislaro@fticonsulting.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> Massachusetts United States North America<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Pharmaceutical Health Oncology<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20230403005180\/en\/1753527\/3\/imgnlogo.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>ImmunoGen Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4) WALTHAM, Mass.&#8211;(BUSINESS WIRE)&#8211;ImmunoGen, Inc., (Nasdaq: IMGN), a leader in the expanding field of antibody-drug conjugates (ADCs) for the treatment of cancer, today announced that on March 31, 2023, the Compensation Committee of the Company\u2019s Board of Directors approved, in aggregate, grants of non-qualified stock option awards to purchase 106,600 shares of its common stock and restricted stock units (\u201cRSUs\u201d) covering 7,800 shares of its common stock to three new employees under the ImmunoGen, Inc. Inducement Equity Incentive Plan, as amended (the \u201cInducement Plan\u201d). The Inducement Plan is used exclusively for the grant of equity awards to individuals who were not previously employees of ImmunoGen (or following a bona fide period of &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/immunogen-announces-inducement-grants-under-nasdaq-listing-rule-5635c4-25\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;ImmunoGen 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-744890","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>ImmunoGen 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\/immunogen-announces-inducement-grants-under-nasdaq-listing-rule-5635c4-25\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ImmunoGen Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4) - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"ImmunoGen Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4) WALTHAM, Mass.&#8211;(BUSINESS WIRE)&#8211;ImmunoGen, Inc., (Nasdaq: IMGN), a leader in the expanding field of antibody-drug conjugates (ADCs) for the treatment of cancer, today announced that on March 31, 2023, the Compensation Committee of the Company\u2019s Board of Directors approved, in aggregate, grants of non-qualified stock option awards to purchase 106,600 shares of its common stock and restricted stock units (\u201cRSUs\u201d) covering 7,800 shares of its common stock to three new employees under the ImmunoGen, Inc. 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Inducement Equity Incentive Plan, as amended (the \u201cInducement Plan\u201d). 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