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

Rhea-AI Summary

Blueprint Medicines Corporation (NASDAQ: BPMC) announced the granting of non-qualified stock options for 16,354 shares and 8,174 restricted stock units (RSUs) to eight new employees, effective December 1, 2020. This grant is part of the 2020 Inducement Plan, adhering to NASDAQ Listing Rule 5635(c)(4). The stock options have an exercise price of $105.65 per share, matching the closing price on the grant date. Vesting schedules for both options and RSUs are detailed, ensuring employee retention as they vest based on continued employment.

Positive

• Granting of stock options and RSUs indicates company growth and employee attraction.
• Options priced at $105.65 reflect the current market value.

Negative

• None.

CAMBRIDGE, Mass., Dec. 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 December 1, 2020, the Compensation Committee of Blueprint Medicines' Board of Directors granted non-qualified stock options to purchase an aggregate of 16,354 shares of its common stock and an aggregate of 8,174 restricted stock units (RSUs) to eight 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 $105.65 per share, which is equal to the closing price of Blueprint Medicines' common stock on December 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 two approved precision therapies and are currently advancing multiple investigational medicines in clinical and pre-clinical development, along with a number of earlier-stage 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 is the recent stock options grant announced by BPMC?

Blueprint Medicines announced the granting of 16,354 stock options and 8,174 RSUs to new employees, effective December 1, 2020.

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

The stock options granted by Blueprint Medicines have an exercise price of $105.65 per share.

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

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

How do the stock options and RSUs vest for BPMC employees?

The stock options and RSUs vest over a four-year period, with 25% vesting after the first year and the remainder vesting monthly or annually thereafter.