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

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Blueprint Medicines (Nasdaq: BPMC) granted non-qualified stock options and restricted stock units to three new employees under its 2020 Inducement Plan. The options have an exercise price of $96.42 per share, vesting over time based on continued employment. The RSUs also vest annually, subject to the employees' continued employment.

CAMBRIDGE, Mass., April 4, 2024 /PRNewswire/ -- Blueprint Medicines Corporation (Nasdaq: BPMC), today announced that, effective April 1, 2024, the Compensation Committee of Blueprint Medicines' Board of Directors granted non-qualified stock options to purchase an aggregate of 3,711 shares of its common stock and an aggregate of 1,854 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 $96.42 per share, which is equal to the closing price of Blueprint Medicines' common stock on April 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 type of equity awards were granted by Blueprint Medicines ?

Non-qualified stock options and restricted stock units.

How many shares of common stock were granted through the options?

3,711 shares.

What is the exercise price per share for the options?

$96.42 per share.

How do the options vest over time?

25% on the first anniversary and 1/48th monthly thereafter.

What is the vesting schedule for the RSUs?

25% on the first anniversary and 25% annually thereafter.

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

To grant equity awards to new employees as an inducement for their employment.