ALX Oncology Announces Inducement Grant for New Chief Development and Operating Officer

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ALX Oncology, a clinical-stage biotechnology company, announced that it has granted an inducement stock option to purchase 800,000 shares of the company's common stock to Jeff Knight, M.P.H., the newly appointed Chief Development and Operating Officer. The inducement stock option was granted in accordance with Nasdaq Listing Rule 5635(c)(4) to support Mr. Knight's employment with the company.

Why it matters

Inducement grants are a common practice in the biotechnology industry to attract and retain key talent. This grant to the new Chief Development and Operating Officer signals ALX Oncology's commitment to building a strong leadership team to advance its pipeline of novel cancer therapies.

The details

The inducement stock option has an exercise price of $1.68 per share, which is equal to the closing price of ALX Oncology's common stock on the grant date. The option vests over a four-year period, with 25% of the shares vesting on the one-year anniversary of April 13, 2026 and the remaining shares vesting monthly thereafter, subject to Mr. Knight's continued service with the company.

• The inducement stock option was granted on April 16, 2026.
• 25% of the shares subject to the option will vest on the one-year anniversary of April 13, 2026.

What’s next

ALX Oncology will continue to advance its pipeline of novel cancer therapies, with the support of its newly expanded leadership team.