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

Rhea-AI Summary

Blueprint Medicines Corporation (NASDAQ: BPMC) announced on June 3, 2022, that it granted non-qualified stock options and restricted stock units (RSUs) to 27 new employees effective June 1, 2022. In total, 47,587 stock options and 23,787 RSUs were awarded under the 2020 Inducement Plan, which aims to attract new talent. The exercise price for the options is $56.04 per share, matching the closing price on the grant date. The vesting schedule for options and RSUs involves a 25% vest on the first anniversary, followed by monthly or annual vesting, depending on the award type.

Positive

• Granting of 47,587 stock options and 23,787 RSUs can enhance employee retention and attract new talent.
• The exercise price of $56.04 reflects the current market value, indicating potential stability.

Negative

• None.

CAMBRIDGE, Mass., June 3, 2022 /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 June 1, 2022, the Compensation Committee of Blueprint Medicines' Board of Directors granted non-qualified stock options to purchase an aggregate of 47,587 shares of its common stock and an aggregate of 23,787 restricted stock units (RSUs) to twenty-seven 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 $56.04 per share, which is equal to the closing price of Blueprint Medicines' common stock on June 1, 2022. 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 science into a broad pipeline of precision therapies. Today, we are delivering approved medicines directly to patients in the United States and Europe, and we are globally advancing multiple programs for systemic mastocytosis, lung 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 was announced by Blueprint Medicines on June 3, 2022?

Blueprint Medicines announced the grant of stock options and RSUs to new employees effective June 1, 2022.

How many shares were granted to employees at Blueprint Medicines?

A total of 47,587 stock options and 23,787 restricted stock units (RSUs) were granted.

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

The exercise price of the stock options is $56.04 per share.

What is the vesting schedule for the stock options awarded by Blueprint Medicines?

The options vest 25% on the first anniversary and then monthly thereafter.

What purpose does the 2020 Inducement Plan serve at Blueprint Medicines?

The 2020 Inducement Plan is designed to grant equity awards to new employees as an inducement for joining the company.