On February 6, 2023 GlycoMimetics, Inc. (the "Company") (NASDAQ:GLYC) reported that the Compensation Committee of the Company’s Board of Directors approved the grant on January 31 , 2023 of a non-qualified stock option award to purchase an aggregate of 100,000 shares to Debora Peralta, the Company’s new Vice President, Commercial Operations (Press release, GlycoMimetics, FEB 6, 2023, View Source [SID1234626878]). The award was granted as an inducement equity award outside of the Company’s Amended and Restated 2013 Equity Incentive Plan in accordance with NASDAQ Listing Rule 5635(c)(4) and was made as an inducement material to the acceptance of employment with the Company by the new employee.

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The award was comprised of an option to purchase 100,000 shares of the Company’s common stock, par value $0.001 per share (the "Common Stock"), subject to vesting as to 25% of the underlying shares on January 31, 2024, and as to the remaining underlying shares in equal monthly installments over 36 months thereafter. The option grant has an exercise price of $2.91 per share, the closing price of the Common Stock on the date of grant, and is subject to the terms and conditions of a stock option agreement and the GlycoMimetics, Inc. Inducement Plan (adopted January 22, 2020 and amended on August 2, 2021 and January 21, 2022), which provides for the granting of stock options and other equity awards to new employees.