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

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Blueprint Medicines Corporation has granted non-qualified stock options and restricted stock units (RSUs) to three new employees under its 2020 Inducement Plan. The options have an exercise price of $59.90 per share and will vest gradually over time, while the RSUs will vest annually. These grants are subject to the terms and conditions of the Inducement Plan and the stock option and RSU agreement.

CAMBRIDGE, Mass., Nov. 3, 2023 /PRNewswire/ -- Blueprint Medicines Corporation (Nasdaq: BPMC), today announced that, effective November 1, 2023, the Compensation Committee of Blueprint Medicines' Board of Directors granted non-qualified stock options to purchase an aggregate of 5,034 shares of its common stock and an aggregate of 2,517 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 $59.90 per share, which is equal to the closing price of Blueprint Medicines' common stock on November 1, 2023. 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 have brought our approved medicines to patients in the United States and Europe, and we are globally advancing multiple programs for mast cell disorders, including systemic mastocytosis and chronic urticaria, breast cancer and other cancers vulnerable to CDK2 inhibition, as well as EGFR-mutant lung cancer. 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 did Blueprint Medicines announce?

Blueprint Medicines announced the granting of stock options and RSUs to new employees.

How many shares of common stock were granted?

A total of 5,034 shares of common stock were granted.

What is the exercise price of the options?

The exercise price of the options is $59.90 per share.

How will the options vest?

The options will vest gradually, with 25% vesting on the first anniversary of the grant date and an additional 1/48th vesting monthly thereafter.

How will the RSUs vest?

The RSUs will vest annually, with 25% vesting on the first anniversary of the grant date and an additional 25% vesting each year thereafter.

What are the conditions for vesting?

Vesting is subject to each employee's continued employment on each vesting date.