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

Rhea-AI Summary

Blueprint Medicines Corporation announced the granting of non-qualified stock options for 9,725 shares and 4,862 restricted stock units (RSUs) to seven new employees as part of its 2020 Inducement Plan, effective January 1, 2022. The exercise price for these options is set at $107.11 per share, matching the closing stock price from December 31, 2021. The RSUs will vest over four years, while the options will vest 25% after one year and monthly thereafter, contingent upon continued employment. This strategy aims to attract new talent to advance the company's precision therapies for cancer and rare diseases.

Positive

• Grant of stock options and RSUs may enhance employee retention and attract talent.
• The exercise price aligns with the company's stock performance, reflecting stability.

Negative

• None.

CAMBRIDGE, Mass., Jan. 6, 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 January 1, 2022, the Compensation Committee of Blueprint Medicines' Board of Directors granted non-qualified stock options to purchase an aggregate of 9,725 shares of its common stock and an aggregate of 4,862 restricted stock units (RSUs) to seven 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 $107.11 per share, which is equal to the closing price of Blueprint Medicines' common stock on December 31, 2021. 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 hematologic 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 genomically defined cancers, systemic mastocytosis, and cancer immunotherapy. For more information, visit www.BlueprintMedicines.com and follow us on Twitter (@BlueprintMeds) and LinkedIn.

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SOURCE Blueprint Medicines Corporation

FAQ

What stock options were granted by Blueprint Medicines on January 1, 2022?

Blueprint Medicines granted 9,725 stock options and 4,862 restricted stock units (RSUs) to new employees on January 1, 2022.

What is the exercise price of options granted by Blueprint Medicines?

The exercise price for the options granted is $107.11 per share.

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

The 2020 Inducement Plan is designed to grant equity awards to new employees as an inducement for their employment.

How will the RSUs granted by Blueprint Medicines vest?

The RSUs will vest 25% on the first anniversary and an additional 25% annually thereafter.

What is Blueprint Medicines' focus in their business operations?

Blueprint Medicines focuses on precision therapies for genomically defined cancers, rare diseases, and cancer immunotherapy.