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

Rhea-AI Summary

Blueprint Medicines Corporation (NASDAQ: BPMC) granted stock options and restricted stock units (RSUs) to 13 new employees on May 1, 2021, under its 2020 Inducement Plan. The company awarded options for 21,045 shares at an exercise price of $96.32 per share, equal to the closing price on April 30, 2021. Options will vest 25% after one year and then monthly thereafter. Meanwhile, the RSUs will vest 25% annually over four years. This move aims to attract talent as part of their strategy to advance precision therapies for cancer and hematologic disorders.

Positive

• Granting of stock options and RSUs incentivizes and attracts new talent.
• The exercise price of the options matches the recent stock closing price, maintaining investor confidence.

Negative

• None.

CAMBRIDGE, Mass., May 5, 2021 /PRNewswire/ -- Blueprint Medicines Corporation (NASDAQ: BPMC) today announced that, effective on May 1, 2021, the Compensation Committee of Blueprint Medicines' Board of Directors granted non-qualified stock options to purchase an aggregate of 21,045 shares of its common stock and an aggregate of 10,520 restricted stock units (RSUs) to 13 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 $96.32 per share, which is equal to the closing price of Blueprint Medicines' common stock on April 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 did Blueprint Medicines announce on May 5, 2021?

Blueprint Medicines announced stock options and RSUs grants to new employees under their 2020 Inducement Plan on May 5, 2021.

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

The exercise price for the stock options granted is $96.32 per share.

How many shares of common stock were awarded under the stock options?

A total of 21,045 shares of common stock were awarded under the stock options.

Who received the stock options and RSUs from Blueprint Medicines?

Thirteen new employees received the stock options and RSUs from Blueprint Medicines.

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

The 2020 Inducement Plan is intended to grant equity awards to attract new talent who were not previously employees.