On December 1, 2023 ImmunoGen, Inc., (Nasdaq: IMGN), a leader in the expanding field of antibody-drug conjugates (ADCs) for the treatment of cancer, reported that the compensation committee of the Company’s Board of Directors (the "Compensation Committee") approved, effective as of November 30, 2023, the grant of restricted stock units ("RSUs") covering 112,252 shares of ImmunoGen’s common stock under the ImmunoGen, Inc. Inducement Equity Incentive Plan, as amended (the "Inducement Plan") to twelve new employees (Press release, ImmunoGen, DEC 1, 2023, View Source [SID1234638091]).

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 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’s entering into employment with ImmunoGen, pursuant to Rule 5635(c)(4) of the Nasdaq Listing Rules.

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 the employee’s continued employment on each vesting date. Each RSU is subject to the terms and conditions of the Inducement Plan and the terms and conditions of an RSU agreement covering the grants.