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

Rhea-AI Summary

Blueprint Medicines Corporation (NASDAQ: BPMC) announced on November 5, 2021 that it granted non-qualified stock options for 24,373 shares and 12,183 restricted stock units (RSUs) to new employees, effective November 1, 2021. This is part of the 2020 Inducement Plan aimed at incentivizing new hires per NASDAQ Rule 5635(c)(4). The options have an exercise price of $112.82, equal to the stock's closing price on the grant date. Vesting for options and RSUs will occur gradually over several years, contingent on continued employment.

Positive

• Granting of equity awards (24,373 stock options and 12,183 RSUs) indicates company growth and recruitment efforts.
• Equity awards are structured to retain talent through staggered vesting schedules.

Negative

• None.

CAMBRIDGE, Mass., Nov. 5, 2021 /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 November 1, 2021, the Compensation Committee of Blueprint Medicines' Board of Directors granted non-qualified stock options to purchase an aggregate of 24,373 shares of its common stock and an aggregate of  12,183 restricted stock units (RSUs) to eighteen 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 $112.82 per share, which is equal to the closing price of Blueprint Medicines' common stock on November 1, 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 was announced by Blueprint Medicines on November 5, 2021?

Blueprint Medicines announced the grant of stock options and RSUs to new employees under its 2020 Inducement Plan.

How many shares were granted as stock options by Blueprint Medicines?

Blueprint Medicines granted a total of 24,373 stock options to new employees.

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

The exercise price of the stock options is $112.82 per share.

When did the stock options and RSUs become effective?

The stock options and RSUs became effective on November 1, 2021.

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

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