CV Therapeutics offers stock options to 22 new hires

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CV Therapeutics, in accordance with Nasdaq Marketplace Rule 4350, has issued new inducement stock options to 22 new non-executive officers, primarily in connection with its commercialization efforts in the U.S.

The Palo Alto, Calif.-based company said that the inducement stock options cover an aggregate 75,500 shares of common stock and are classified as non-qualified stock options with an exercise price equal to the fair market value on the grant date. The options have a 10-year term and vest over four years as follows: 20 percent of the options will vest on the date one year from the optionee's hire date, 20 percent of the options will vest in monthly increments during each of the second and third years and 40 percent of the options will vest in monthly increments during the fourth year.