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

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Blueprint Medicines Corporation (Nasdaq: BPMC) granted stock options and restricted stock units to new employees under its 2020 Inducement Plan. The options have an exercise price of $95.12 per share, vesting over time, while the RSUs vest annually, subject to continued employment.

CAMBRIDGE, Mass., March 6, 2024 /PRNewswire/ -- Blueprint Medicines Corporation (Nasdaq: BPMC), today announced that, effective March 1, 2024, the Compensation Committee of Blueprint Medicines' Board of Directors granted non-qualified stock options to purchase an aggregate of 2,615 shares of its common stock and an aggregate of 1,307 restricted stock units (RSUs) to three 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 $95.12 per share, which is equal to the closing price of Blueprint Medicines' common stock on March 1, 2024. 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 fully integrated, commercial-stage, global biopharmaceutical company that invents life-changing medicines in two core, strategic areas of allergy/inflammation and oncology/hematology. We pursue discovery, development, and commercialization of therapies that potently and selectively target known drivers of disease, with focused investment in therapeutic areas where we can leverage our core expertise and business infrastructure to bring scale to our science. We are bringing AYVAKIT®/AYVAKYT® (avapritinib) to people living with systemic mastocytosis (SM) in the U.S. and Europe. Additionally, we have a pipeline of research and development programs that range from early science to advanced clinical trials in mast cell-mediated diseases, including SM and chronic urticaria, breast cancer, and other solid tumors vulnerable to CDK2 inhibition. For more information, visit www.BlueprintMedicines.com and follow us on X (formerly Twitter; @BlueprintMeds) and LinkedIn.

 

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SOURCE Blueprint Medicines Corporation

FAQ

What did Blueprint Medicines announce regarding stock options and RSUs?

Blueprint Medicines granted non-qualified stock options and restricted stock units to new employees under its 2020 Inducement Plan.

What is the exercise price of the stock options?

The exercise price of the stock options is $95.12 per share.

How do the options vest?

Each option will vest as to 25% of the shares underlying it on the first anniversary of the grant date and monthly thereafter, subject to continued employment.

How do the RSUs vest?

Each RSU will vest as to 25% of the shares underlying it on the first anniversary of the grant date and annually thereafter, subject to continued employment.

What is the purpose of Blueprint Medicines' 2020 Inducement Plan?

The 2020 Inducement Plan is used exclusively for granting equity awards to new employees as an inducement material to their employment with Blueprint Medicines.