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

Rhea-AI Summary

Blueprint Medicines Corporation (NASDAQ: BPMC) announced on September 3, 2021, that its Compensation Committee granted stock options for 23,720 shares and 11,858 restricted stock units (RSUs) to 12 new employees. This grant is part of the 2020 Inducement Plan, designed for new hires, effective September 1, 2021. The options have an exercise price of $96.13 per share, equal to the stock's closing price on the grant date. Vesting occurs annually for options and RSUs, contingent on continued employment.

Positive

• Attracting talent by granting stock options and RSUs to new hires.
• Equity awards align employee incentives with company performance.

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• None.

CAMBRIDGE, Mass., Sept. 3, 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 September 1, 2021, the Compensation Committee of Blueprint Medicines' Board of Directors granted non-qualified stock options to purchase an aggregate of 23,720 shares of its common stock and an aggregate of 11,858 restricted stock units (RSUs) to 12 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 $96.13 per share, which is equal to the closing price of Blueprint Medicines' common stock on September 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 are the details of Blueprint Medicines' inducement grants under NASDAQ rule 5635?

On September 3, 2021, Blueprint Medicines announced inducement grants of 23,720 stock options and 11,858 RSUs to 12 new employees as per NASDAQ rule 5635, effective from September 1, 2021.

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

The exercise price for the stock options granted is $96.13 per share.

When do the stock options and RSUs vest for Blueprint Medicines' new employees?

The stock options vest 25% on the first anniversary and the rest monthly, while RSUs vest 25% annually for four years, contingent on continued employment.