On June 13, 2023 Aravive, Inc. (Nasdaq: ARAV, "the Company"), a late clinical-stage oncology company developing targeted therapeutics to treat metastatic disease, reported that in accordance with Nasdaq rules regarding employment inducement awards, the Company has granted an equity compensation award to a new employee (Press release, Aravive, JUN 13, 2023, View Source [SID1234632646]).

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The Compensation Committee of ARAV’s Board of Directors approved the award of options to purchase an aggregate of 40,000 shares of common stock, with a grant date of June 8, 2023 (the "Grant Date"), to the newly hired employee in accordance with Nasdaq Listing Rule 5635(c)(4).

The stock option has an exercise price of $1.71, the closing price of ARAV’s common stock on the Grant Date. The stock option will vest and become exercisable with 25% of the shares underlying the stock option award vesting on the first anniversary of the date of hire and the remaining 75% of the shares subject to the Option will vest in equal monthly installments over the next 36 months of continuous service.