Puma Biotechnology Grants Inducement Awards to New Employees Under Nasdaq Listing Rule 5635(c)(4)

Puma Biotechnology grants inducement awards to new employees under Nasdaq Listing Rule 5635(c)(4), including 27,875 shares of restricted stock units vesting over three years. The move aims to attract top talent as the company advances its oncology drug portfolio, including NERLYNX and alisertib.

Puma Biotechnology, Inc. (NASDAQ: PBYI), a biopharmaceutical company specializing in cancer care, has announced the granting of inducement restricted stock unit awards to three new non-executive employees. The awards, totaling 27,875 shares of Puma common stock, were approved by the Compensation Committee of Puma’s Board of Directors on August 5, 2025 [1].

The restricted stock unit awards are part of Puma’s 2017 Employment Inducement Incentive Award Plan, which provides for the granting of equity awards to new employees. The awards vest over a three-year period, with one-third of the shares vesting on the first anniversary of the award’s vesting commencement date, August 1, 2025, and one-sixth of the shares vesting on each six-month anniversary thereafter, subject to continued service. The grants were made to attract top talent and align with Nasdaq Listing Rule 5635(c)(4) [2].

Puma Biotechnology's portfolio includes NERLYNX® (neratinib), an oral medication approved by the U.S. Food and Drug Administration (FDA) in 2017 for extended adjuvant treatment of early-stage HER2-overexpressed/amplified breast cancer. In 2020, NERLYNX was approved in combination with capecitabine for advanced or metastatic HER2-positive breast cancer. The company also holds the global development and commercialization rights to alisertib, a selective, small molecule inhibitor of aurora kinase A, focusing on the treatment of small cell lung cancer and breast cancer. Puma initiated Phase II clinical trials for alisertib in February and November 2024 [1].

The inducement awards are a strategic move by Puma Biotechnology to attract and retain top talent as it continues to advance its oncology drug portfolio. The company aims to leverage these investments to enhance its position in the biopharmaceutical industry.

References:
[1] https://www.morningstar.com/news/business-wire/20250808110672/puma-biotechnology-reports-inducement-awards-under-nasdaq-listing-rule-5635c4
[2] https://www.biospace.com/press-releases/puma-biotechnology-reports-inducement-awards-under-nasdaq-listing-rule-5635c4-august-8-2025