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

Rhea-AI Summary

Blueprint Medicines Corporation (NASDAQ: BPMC) announced on January 5, 2021, that its Compensation Committee granted non-qualified stock options for 7,675 shares and 3,837 restricted stock units (RSUs) to three new employees, effective January 1, 2021. This is part of the 2020 Inducement Plan, designed to attract new talent. The options have an exercise price of $112.15 per share, the closing price on December 31, 2020, and will vest over four years, while the RSUs will vest over four annual increments. These actions reflect the company's strategy to enhance its workforce.

Positive

• Granting of stock options and RSUs to attract new talent.
• Equity awards are tied to performance through vesting schedule.

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• None.

CAMBRIDGE, Mass., Jan. 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 January 1, 2021, the Compensation Committee of Blueprint Medicines' Board of Directors granted non-qualified stock options to purchase an aggregate of 7,675 shares of its common stock and an aggregate of 3,837 restricted stock units (RSUs) to three 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 $112.15 per share, which is equal to the closing price of Blueprint Medicines' common stock on December 31, 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 stock options were granted by BPMC on January 1, 2021?

On January 1, 2021, BPMC granted non-qualified stock options to purchase 7,675 shares and 3,837 restricted stock units (RSUs) to three new employees.

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

The exercise price for the stock options granted by BPMC is $112.15 per share.

What is the purpose of BPMC's 2020 Inducement Plan?

The 2020 Inducement Plan is designed to grant equity awards to individuals who were not previously employed by BPMC, to attract new talent.

When will the stock options granted by BPMC begin to vest?

The stock options will vest as to 25% of the shares on the first anniversary of the grant date, with additional vesting monthly thereafter.

What are the vesting terms for the RSUs granted by BPMC?

The RSUs will vest 25% on the first anniversary of the grant date and 25% annually thereafter.