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

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Blueprint Medicines grants stock options and restricted stock units to new employees

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• Blueprint Medicines Corporation has granted non-qualified stock options and restricted stock units to four new employees under its 2020 Inducement Plan. The options have an exercise price of $50.22 per share and will vest over time, subject to continued employment. This move aims to incentivize and retain new talent.

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CAMBRIDGE, Mass., Oct. 5, 2023 /PRNewswire/ -- Blueprint Medicines Corporation (Nasdaq: BPMC), today announced that, effective October 1, 2023, the Compensation Committee of Blueprint Medicines' Board of Directors granted non-qualified stock options to purchase an aggregate of 3,655 shares of its common stock and an aggregate of 1,827 restricted stock units (RSUs) to four 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 $50.22 per share, which is equal to the closing price of Blueprint Medicines' common stock on September 29, 2023. 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 blood 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 our scientific innovation into a broad pipeline of important approved and investigational precision therapies aimed at addressing difficult-to-treat cancers and blood disorders. Today, we are delivering our approved medicines to patients in the United States, Europe, and in other geographies ourselves or through our partners.  In addition, we are globally advancing multiple programs for systemic mastocytosis, lung cancer, breast cancer, and other genomically defined cancers, 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 did Blueprint Medicines announce?

Blueprint Medicines granted stock options and restricted stock units to new employees.

How many shares were granted?

An aggregate of 3,655 shares of common stock and 1,827 restricted stock units were granted.

What is the exercise price of the options?

The exercise price of the options is $50.22 per share.

How will the options vest?

The options will vest as to 25% of the shares on the first anniversary of the grant date and additional shares monthly thereafter, subject to continued employment.

What is the purpose of the grants?

The grants aim to incentivize and retain new employees.