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CymaBay Announces Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)NEWARK, Calif., May 18, 2021 (GLOBE NEWSWIRE) -- CymaBay Therapeutics, Inc. (NASDAQ: CBAY), a clinical-stage biopharmaceutical company focused on developing therapies for liver and other chronic diseases with high unmet need, today announced the grant of an inducement award to Dennis Kim, MD in connection with his appointment as the company’s Chief Medical Officer. The Compensation Committee of the Board of Directors of CymBay approved the grant of a non-qualified stock option to purchase an aggregate of 390,000 shares of its common stock as an inducement material to Dr. Kim entering into employment with CymaBay in accordance with Nasdaq Listing Rule 5635(c)(4), and is subject to the terms and conditions of the applicable award agreement covering such grant. This stock option grant has an exercise price of $4.37 per share, which is equal to the closing price of CymaBay’s common stock on May 17, 2021, the date of grant for the stock option. The stock option will vest and become exercisable as to 25% of the underlying shares on May 17, 2022, and will vest and become exercisable as to the remaining 75% of the underlying shares in 36 equal monthly installments fromMay 17, 2022, subject to Dr. Kim’s continued employment with CymaBay on such vesting dates. About CymaBay Public Relations Contact: Glenn Silver Investor Relations Contact: Hans Vitzthum |