Summit Therapeutics Inc. $(SMMT)$ has announced the issuance of inducement awards consisting of options to purchase up to 94,050 shares of common stock. These awards have been granted to nine new employees as part of their employment agreement with the company, in accordance with Nasdaq Listing Rule 5635(c)(4). Approved by the Company's Compensation Committee, the options have a ten-year term and an exercise price of $22.75 per share, reflecting the closing price on May 14, 2025. The options will vest in equal annual installments over four years and are subject to a stock option agreement to be signed by each recipient.
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