bluebird bio, Inc. Reports Inducement Grants to CCO Tom Klima Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

bluebird bio, Inc. (Nasdaq: BLUE) has announced the approval of inducement grants for stock options and restricted stock units (RSUs) totaling 50,000 shares and 25,000 RSUs to Chief Commercial Officer Tom Klima. The stock options have an exercise price of $31.11 and will vest over four years. The RSUs will also vest over four years, starting with 25% on the first anniversary of the grant date. This move complies with NASDAQ Listing Rule 5635(c)(4) as part of Mr. Klima's employment agreement.

Positive

• Grant of 50,000 stock options and 25,000 RSUs to enhance executive retention.
• Stock options have a reasonable exercise price of $31.11 aligned with market value.

Negative

• None.

bluebird bio, Inc. (Nasdaq: BLUE) today announced that the Compensation Committee of the Company’s Board of Directors approved inducement grants of stock options to purchase a total of 50,000 shares of common stock and 25,000 restricted stock units (“RSUs”) to its Chief Commercial Officer Tom Klima with a grant date of June 1, 2021 (the “Inducement Grants”).

The stock options approved under the Inducement Grants have an exercise price per share equal to $31.11, the fair market value on the grant date. The stock options vest over four years, with 25% vesting on the one-year anniversary of Mr. Klima’s first day of employment with the Company and 1/36 of the remaining shares vesting monthly thereafter, subject to Mr. Klima’s continued service with the Company on each such date. The stock options have a 10-year term and are subject to the terms and conditions of the stock option agreement.

The RSUs approved under the Inducement Grants vest over four years, 25% on the first anniversary of the date of grant and in three equal annual installments for the following three years on the anniversaries of the date of grant.

The Company granted the stock options and RSUs as inducement materials to Tom Klima entering into employment with bluebird bio, Inc. in accordance with NASDAQ Listing Rule 5635(c)(4).

About bluebird bio, Inc.

bluebird bio, Inc. (NASDAQ: BLUE) is bluebird bio is pioneering gene therapy with purpose. From our Cambridge, Mass., headquarters, we’re developing gene and cell therapies for severe genetic diseases and cancer, with the goal that people facing potentially fatal conditions with limited treatment options can live their lives fully. Beyond our labs, we’re working to positively disrupt the healthcare system to create access, transparency and education so that gene therapy can become available to all those who can benefit.

bluebird bio is a human company powered by human stories. We’re putting our care and expertise to work across a spectrum of disorders including cerebral adrenoleukodystrophy, sickle cell disease, β-thalassemia and multiple myeloma using three gene therapy technologies: gene addition, cell therapy and (megaTAL-enabled) gene editing.

bluebird bio has additional nests in Seattle, Wash.; Durham, N.C.; and Zug, Switzerland. For more information, visit bluebirdbio.com.

Follow bluebird bio on social media: @bluebirdbio, LinkedIn, Instagram and YouTube.

bluebird bio is a trademark of bluebird bio, Inc.

Cautionary Note on Forward-Looking Statements

This press release includes forward-looking statements pertaining to the continued service of an employee and future vesting of inducement grants as well as to our business and operations, including the discovery, development, and commercialization of our product candidates. Such forward-looking statements can be guaranteed. Forward-looking statements in this press release should be evaluated together with the many risks and uncertainties that affect bluebird bio’s business, particularly those identified in the risk factors discussion in bluebird bio’s Annual Report on Form 10-K, as updated by our subsequent Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other filings with the Securities and Exchange Commission. The forward-looking statements included in this document are made only as of the date of this document and except as otherwise required by applicable law, bluebird bio undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, changed circumstances or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210602006012/en/

FAQ

What stock options were granted to Tom Klima at bluebird bio?

Tom Klima was granted 50,000 stock options with an exercise price of $31.11.

When do the restricted stock units (RSUs) vest for Tom Klima?

The RSUs vest over four years, with 25% vesting on the first anniversary of the grant date.

What is the total number of shares involved in the inducement grants to Tom Klima?

The total inducement grants include 50,000 stock options and 25,000 RSUs.

How does bluebird bio's inducement grants comply with NASDAQ regulations?

The inducement grants were made in accordance with NASDAQ Listing Rule 5635(c)(4) as part of Mr. Klima's employment.