On April 3, 2023 Karyopharm Therapeutics Inc. (Nasdaq: KPTI), a commercial-stage pharmaceutical company pioneering novel cancer therapies, reported that the Company granted an aggregate of 221,900 restricted stock units (RSUs) to thirteen newly-hired employees (Press release, Karyopharm, APR 3, 2023, View Source [SID1234629749]). These RSU awards were granted as of March 31, 2023. Each RSU award will vest over three years, with 33 1/3% percent of the shares underlying the RSU award vesting on each of the three consecutive anniversaries of the applicable employee’s employment commencement date.

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In addition, the Company granted an award of 60,000 RSUs to Tahira Payne, the Company’s newly hired Senior Vice President, Development Operations, with a grant date of March 31, 2023. The RSU award will vest as to 25% of the shares underlying the award, on each of four consecutive anniversaries of Ms. Payne’s employment commencement date.

Each of these equity awards were granted pursuant to the Company’s 2022 Inducement Stock Incentive Plan, as amended, as inducements material to the new employees entering into employment with Karyopharm in accordance with Nasdaq Listing Rule 5635(c)(4). The vesting of each RSU award is subject to the employee’s continued service as an employee of, or other service provider to, Karyopharm through the applicable vesting dates. In addition, each RSU award will be immediately exercisable in full if, on or prior to the first anniversary of the consummation of a "change in control event," the employee’s employment is terminated for "good reason" by the employee or terminated without "cause" by Karyopharm (as such terms are defined in the applicable RSU agreement).