On October 6, 2023 Curis, Inc. (NASDAQ: CRIS), a biotechnology company focused on the development of innovative therapeutics for the treatment of cancer, reported that on October 2, 2023, the independent Compensation Committee of the Board of Directors of Curis approved the grant of inducement stock options to purchase a total of 11,340 shares of Curis common stock to two new employees, with a grant date of October 2, 2023 (the "Q4 2023 Inducement Grants") (Press release, Curis, OCT 6, 2023, View Source [SID1234635706]).

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Each of the Q4 2023 Inducement Grants has an exercise price per share equal to the closing price of the Company’s common stock on October 2, 2023. Each stock option has a 10 year term and vests over four years, with 25% of the original number of shares underlying the award vesting on the first anniversary of the employee’s date of hire and an additional 6.25% of the original number of shares underlying the award vesting on each successive three-month period thereafter, subject to the employee’s continued service with the Company through the respective vesting dates. Each stock option was granted as an inducement equity award outside of the Company’s Fourth Amended and Restated 2010 Stock Incentive Plan and was made as an inducement material to the employee’s acceptance of employment with the Company.