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ImageneBio, Inc. (NASDAQ:IMA) announced that on Monday its board of directors approved the company’s 2025 Inducement Plan, reserving 589,585 shares of common stock for equity awards to new employees. The plan is intended for individuals who have not previously been employees or directors of the company, or who are rejoining after a bona fide period of non-employment.
The board’s compensation committee recommended the plan, which was adopted without stockholder approval under Nasdaq Listing Rule 5635(c)(4). The inducement plan is designed to provide equity grants as an incentive for individuals to enter into employment with the company.
Along with the plan, the board approved forms for stock option grant notices, option agreements, notices of exercise, and restricted stock unit (RSU) grant notices and agreements for use under the inducement plan. The terms of the inducement plan are substantially similar to ImageneBio’s stockholder-approved 2025 Equity Incentive Plan.
A complete copy of the inducement plan was filed as an exhibit to the company’s Form 8-K, which was signed by Chief Executive Officer Kristin Yarema, Ph.D. The information in this article is based on a press release statement included in the SEC filing.
In other recent news, Ikena Oncology announced a 1-for-12 reverse stock split, effective at the start of trading on July 28, which will result in the company rebranding as ImageneBio, Inc. This move will reduce the number of issued and outstanding shares from approximately 48.2 million to about 4 million, while the number of authorized shares remains unchanged. Additionally, Ikena shareholders have approved a merger with Inmagene Biopharmaceuticals, expected to close by the end of July 2025. The merger will be accompanied by a $75 million private placement, and the combined company will operate under the name ImageneBio, Inc., trading on Nasdaq with the ticker "IMA." Kristin Yarema, Ph.D., has been appointed as the Chief Executive Officer of the newly formed ImageneBio. Ikena also announced an amendment to the employment agreement with Dr. Jotin Marango, ensuring accelerated vesting of his equity awards if his employment ends during a designated change in control period. These developments mark significant changes for Ikena Oncology as it transitions into ImageneBio.
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