Sesen Bio Inc (SESN)

[bleu22]

The Company granted each of Mr. Hurley, Dr. DeCillis, Dr. MacDonald and Dr. Adams a stock option to purchase 350,000, 100,000, 100,000 and 100,000 shares of the Company's common stock, respectively, each with an effective grant date of September 20, 2016 and an exercise price of $3.37 per share (the closing price per share of the Company’s common stock on September 20, 2016) as an inducement to each recipient in connection with his employment. The inducement equity awards were approved and recommended by Eleven’s Compensation Committee, approved by the Board of Directors and were made as an inducement material to each recipient’s acceptance of employment with the Company in accordance with NASDAQ Listing Rule 5635(c)(4).