MEI Pharma Announces Inducement Grant under Nasdaq Listing Rule 5635(c)(4)

MEI Pharma, Inc. (NASDAQ: MEIP), a late-stage pharmaceutical company focused on advancing new therapies for cancer, today announced the grant of inducement stock options for an aggregate of 131,000 shares of the company’s common stock to four new employees. The stock options were granted as a material inducement to the new employees accepting employment with MEI in accordance with Nasdaq Listing Rule 5635(c)(4).

The stock options have a $0.39 exercise price per share, which is equal to the closing price of the Company’s common stock on the grant date. The options were granted pursuant to the MEI Pharma, Inc. 2021 Inducement Grant Equity Compensation Plan, and have terms and conditions consistent with the MEI Pharma, Inc. Amended and Restated 2008 Stock Omnibus Equity Compensation Plan. The options were approved by the Company’s Compensation Committee of the Board of Directors in reliance on the employment inducement exception under Rule 5635(c)(4), which requires that grants relying on this exception be disclosed promptly in a press release.

The options have a 10-year term and will vest 25% of the shares subject to the option on the 12-month anniversary of the date of the grant and 2.0833% of the shares subject to the option on the first day of each of the next 36 calendar months following the 12-month anniversary of the effective date, subject to earlier vesting in connection with a change of control.

About MEI Pharma

MEI Pharma, Inc. (Nasdaq: MEIP) is a late-stage pharmaceutical company focused on developing potential new therapies for cancer. MEI Pharma's portfolio of drug candidates contains multiple clinical-stage assets, including zandelisib, currently in ongoing clinical trials which may support marketing approvals with the U.S. Food and Drug Administration and other regulatory authorities globally. Each of MEI Pharma's pipeline candidates leverages a different mechanism of action with the objective of developing therapeutic options that are: (1) differentiated, (2) address unmet medical needs and (3) deliver improved benefit to patients either as standalone treatments or in combination with other therapeutic options. For more information, please visit www.meipharma.com. Follow us on Twitter @MEI_Pharma and on LinkedIn.