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

Rhea-AI Summary

Blueprint Medicines Corporation (NASDAQ: BPMC) announced on August 4, 2021, the grant of non-qualified stock options for 11,299 shares and restricted stock units (RSUs) for 5,648 shares to eight new employees, effective August 1, 2021. This was executed under the 2020 Inducement Plan, aimed at attracting new talent. The stock options have an exercise price of $87.87, corresponding to the stock's closing price on July 30, 2021. Both stock options and RSUs will vest over a period of time, contingent upon continued employment.

Positive

• Granting of stock options and RSUs may enhance employee retention and attract talent.

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• None.

CAMBRIDGE, Mass., Aug. 4, 2021 /PRNewswire/ -- Blueprint Medicines Corporation (NASDAQ: BPMC) today announced that, effective on August 1, 2021, the Compensation Committee of Blueprint Medicines' Board of Directors granted non-qualified stock options to purchase an aggregate of 11,299 shares of its common stock and an aggregate of 5,648 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 $87.87 per share, which is equal to the closing price of Blueprint Medicines' common stock on July 30, 2021. 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 hematologic 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 genomically defined cancers, systemic mastocytosis, 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 is the significance of the stock options granted by BPMC on August 4, 2021?

The stock options represent an effort to attract and retain key talent, as they are part of an inducement plan for new employees.

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

The exercise price of the stock options is $87.87 per share, reflecting the closing price on July 30, 2021.

How many shares were granted in stock options and RSUs by BPMC?

Blueprint Medicines granted 11,299 shares in stock options and 5,648 shares in RSUs.

Under which plan were the stock options and RSUs granted to new BPMC employees?

The options and RSUs were granted under Blueprint Medicines' 2020 Inducement Plan.

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

The stock options will vest 25% on the first anniversary of the grant date, and 1/48th monthly thereafter, dependent on continued employment.