Blueprint Medicines Announces Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)

Rhea-AI Summary

Blueprint Medicines Corporation (NASDAQ: BPMC) announced the grant of non-qualified stock options for 12,591 shares and 6,293 restricted stock units (RSUs) to twelve new employees, effective March 1, 2022. The grants are part of the 2020 Inducement Plan aimed at attracting new talent. The stock options have an exercise price of $61.31 per share, equal to the closing price on the grant date, with a four-year vesting schedule. This move reflects the company’s strategy to incentivize new hires in precision therapy for cancer and rare diseases, supporting its growth trajectory.

Positive

• Grant of non-qualified stock options for 12,591 shares and 6,293 RSUs indicates investment in new talent.
• The exercise price of $61.31 per share aligns with the market price, showing responsible financial practice.

Negative

• None.

CAMBRIDGE, Mass., March 4, 2022 /PRNewswire/ -- Blueprint Medicines Corporation (NASDAQ: BPMC), a precision therapy company focused on genomically defined cancers, rare diseases and cancer immunotherapy, today announced that, effective on March 1, 2022, the Compensation Committee of Blueprint Medicines' Board of Directors granted non-qualified stock options to purchase an aggregate of 12,591 shares of its common stock and an aggregate of 6,293  restricted stock units (RSUs) to twelve new employees under Blueprint Medicines' 2020 Inducement Plan.

The 2020 Inducement Plan is used exclusively for the grant of equity awards to individuals who were not previously an employee or non-employee director of Blueprint Medicines, as an inducement material to such individual's entering into employment with Blueprint Medicines, pursuant to Rule 5635(c)(4) of the NASDAQ Listing Rules.

The options have an exercise price of $61.31 per share, which is equal to the closing price of Blueprint Medicines' common stock on March 1, 2022. Each option will vest as to 25% of the shares underlying such option on the first anniversary of the grant date and as to an additional 1/48th of the shares underlying the option monthly thereafter, in each case, subject to each such employee's continued employment on each vesting date. Each RSU will vest as to 25% of the shares underlying the RSU award on the first anniversary of the grant date and as to an additional 25% of the shares underlying the RSU award annually thereafter, subject to each such employee's continued employment on each vesting date. The options and RSUs are subject to the terms and conditions of Blueprint Medicines' 2020 Inducement Plan, and the terms and conditions of the stock option and RSU agreement covering the grant.

About Blueprint Medicines

Blueprint Medicines is a global precision therapy company that invents life-changing therapies for people with cancer and blood disorders. Applying an approach that is both precise and agile, we create medicines that selectively target genetic drivers, with the goal of staying one step ahead across stages of disease. Since 2011, we have leveraged our research platform, including expertise in molecular targeting and world-class drug design capabilities, to rapidly and reproducibly translate science into a broad pipeline of precision therapies. Today, we are delivering approved medicines directly to patients in the United States and Europe, and we are globally advancing multiple programs for systemic mastocytosis, lung cancer and other genomically defined cancers, and cancer immunotherapy. For more information, visit www.BlueprintMedicines.com and follow us on Twitter (@BlueprintMeds) and LinkedIn.

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/blueprint-medicines-announces-inducement-grants-under-nasdaq-listing-rule-5635c4-301495176.html

SOURCE Blueprint Medicines Corporation

FAQ

What does the recent grant of stock options and RSUs by BPMC mean?

The grant indicates Blueprint Medicines' commitment to attract and retain talent, which is crucial for its growth in precision therapy.

What is the exercise price for BPMC's stock options?

The exercise price for Blueprint Medicines' stock options is $61.31 per share, which matches the closing market price on the grant date.

When were the stock options and RSUs granted by BPMC?

The stock options and RSUs were granted effective March 1, 2022.

How do the stock options vest for BPMC employees?

The options vest 25% after one year and subsequently 1/48th monthly, subject to continued employment.