On January 5, 2024 Curis, Inc. (NASDAQ: CRIS), a biotechnology company focused on the development of innovative therapeutics for the treatment of cancer, reported that on January 2, 2024, the independent Compensation Committee of the Board of Directors of Curis approved the grant of inducement stock options to purchase a total of 5,800 shares of Curis common stock to a new employee, with a grant date of January 2, 2024 (the "Q1 2024 Inducement Grant") (Press release, Curis, JAN 5, 2024, View Source [SID1234639006]).

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The Q1 2024 Inducement Grant has an exercise price per share equal to the closing price of the Company’s common stock on January 2, 2024. The stock option has a 10 year term and vests over four years, with 25% of the original number of shares underlying the award vesting on the first anniversary of the employee’s date of hire and an additional 6.25% of the original number of shares underlying the award vesting on each successive three-month period thereafter, subject to the employee’s continued service with the Company through the respective vesting dates. The stock option was granted as an inducement equity award outside of the Company’s Fourth Amended and Restated 2010 Stock Incentive Plan and was made as an inducement material to the employee’s acceptance of employment with the Company.