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

Rhea-AI Summary

Blueprint Medicines Corporation (NASDAQ: BPMC) announced the grant of stock options and restricted stock units (RSUs) to five new employees on September 1, 2020. A total of 15,236 stock options and 7,617 RSUs were awarded under the 2020 Inducement Plan, which is designed for new hires. The options have an exercise price of $76.99 per share, matching the stock's closing price on the grant date. Vesting is set to occur over a period of four years, contingent on continued employment. This action reflects the company's commitment to attract talent in the precision medicine sector.

Positive

• Granting of 15,236 stock options and 7,617 RSUs indicates a strategic effort to attract new talent.
• The exercise price of $76.99 aligns with the market value, minimizing immediate dilution risk.

Negative

• None.

CAMBRIDGE, Mass., Sept 4, 2020 /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 September 1, 2020, the Compensation Committee of Blueprint Medicines' Board of Directors granted non-qualified stock options to purchase an aggregate of 15,236 shares of its common stock and an aggregate of 7,617  restricted stock units (RSUs) to five 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 $76.99 per share, which is equal to the closing price of Blueprint Medicines' common stock on September 1, 2020. 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 precision therapy company striving to improve human health. With a focus on genomically defined cancers, rare diseases and cancer immunotherapy, we are developing transformational medicines rooted in our leading expertise in protein kinases, which are proven drivers of disease. Our uniquely targeted, scalable approach empowers the rapid design and development of new treatments and increases the likelihood of clinical success. We have one FDA-approved precision therapy and are currently advancing multiple investigational medicines in clinical development, along with a number of research programs. For more information, visit www.BlueprintMedicines.com and follow us on Twitter (@BlueprintMeds) and LinkedIn.

View original content to download multimedia:http://www.prnewswire.com/news-releases/blueprint-medicines-announces-inducement-grants-under-nasdaq-listing-rule-5635c4-301124316.html

SOURCE Blueprint Medicines Corporation

FAQ

What stock options were granted by BPMC on September 1, 2020?

Blueprint Medicines granted 15,236 stock options and 7,617 RSUs to new employees.

What is the exercise price for the stock options granted by Blueprint Medicines?

The exercise price for the stock options is $76.99 per share.

Who received the stock options and RSUs from Blueprint Medicines?

Five new employees received stock options and RSUs under the 2020 Inducement Plan.

What is the purpose of the 2020 Inducement Plan by BPMC?

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