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

Rhea-AI Summary

CAMBRIDGE, Mass., July 2, 2020 /PRNewswire/ -- Blueprint Medicines Corporation (NASDAQ: BPMC) announced stock options and restricted stock units (RSUs) granted to 13 new employees under its 2020 Inducement Plan, effective July 1, 2020. A total of 30,778 stock options and 15,388 RSUs were awarded, aimed at attracting talent. The options have an exercise price of $79.02, equal to the stock's closing price on the grant date. Vesting schedules for both options and RSUs are set to reward employees for continued employment.

Positive

• Attraction of talent through equity awards.
• Stock options and RSUs granted as part of growth strategy.

Negative

• None.

CAMBRIDGE, Mass., July 2, 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 July 1, 2020, the Compensation Committee of Blueprint Medicines' Board of Directors granted non-qualified stock options to purchase an aggregate of 30,778 shares of its common stock and an aggregate of 15,388 restricted stock units (RSUs) to 13 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 $79.02 per share, which is equal to the closing price of Blueprint Medicines' common stock on July 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.

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SOURCE Blueprint Medicines Corporation

FAQ

What equity awards were granted by BPMC on July 1, 2020?

Blueprint Medicines granted 30,778 stock options and 15,388 RSUs to 13 new employees.

What is the exercise price of the stock options granted by BPMC?

The exercise price of the stock options is $79.02, equal to the closing stock price on the grant date.

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

The 2020 Inducement Plan is designed to grant equity awards to attract new employees.

What are the vesting terms for the stock options and RSUs granted by BPMC?

Options vest 25% after one year and monthly thereafter; RSUs vest 25% after one year and annually thereafter.