On February 7, 2020 CytomX Therapeutics, Inc. (NASDAQ:CTMX), a clinical-stage oncology-focused biopharmaceutical company pioneering a novel class of investigational antibody therapeutics based on its Probody therapeutic technology platform, reported that on February 3, 2020, the Company granted its recently appointed senior vice president and chief medical officer, Alison L. Hannah, M.D., an option to purchase 250,000 shares of the Company’s common stock at an exercise price per share equal to $7.71, which was the closing trading price on February 3, 2020, the date of the grant (Press release, CytomX Therapeutics, FEB 7, 2020, View Source [SID1234554031]). The Company also granted Dr. Hannah a performance option to purchase 50,000 shares of the Company’s common stock at an exercise price per share equal to $7.71. The performance option vests upon the accomplishment of certain clinical trial related goals established by the Company.

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The stock options were granted pursuant to the Company’s 2019 Employment Inducement Incentive Plan, which was approved by the Company’s board of directors in February 2020 under Rule 5635(c)(4) of The Nasdaq Global Market for equity grants to induce new employees to enter into employment with the Company.