On July 17, 2023 C4 Therapeutics, Inc. (C4T) (Nasdaq: CCCC), a clinical-stage biopharmaceutical company dedicated to advancing targeted protein degradation science to develop a new generation of small-molecule medicines and transform how disease is treated, reported that the independent directors serving on the Organization, Leadership and Compensation Committee of the Company’s Board of Directors approved the grant of non-qualified stock options to purchase an aggregate of 351,000 shares of the Company’s common stock to two new employees (the "Inducement Grants"), with grants made on July 10 and July 17, 2023 (the "Grant Dates") (Press release, C4 Therapeutics, JUL 17, 2023, View Source [SID1234633257]). The Inducement Grants were granted as inducements material to these individuals entering into employment with C4T in accordance with Nasdaq Listing Rule 5635(c)(4).

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

The Inducement Grants have an exercise price per share that is equal to the closing price of C4T’s common stock on their respective Grant Dates. The Inducement Grants will vest over a four-year period, with 25% of the shares vesting on the first-year anniversary of the employee’s start date, and thereafter the remainder of the shares vesting in twelve equal quarterly installments, subject to each employee’s continued employment with C4T through each vesting date.