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

Rhea-AI Summary

Blueprint Medicines Corporation (NASDAQ: BPMC) has granted stock options and restricted stock units to twenty-three new employees under its 2020 Inducement Plan. As of May 1, 2022, the Compensation Committee approved the issuance of 40,684 stock options and 20,335 RSUs. The options have an exercise price of $58.35, equal to the closing stock price on April 29, 2022, with vesting over four years. This plan supports recruitment efforts for individuals not previously associated with the company, aligning with NASDAQ Listing Rules.

Positive

• Inducement grant of 40,684 stock options and 20,335 RSUs supports talent acquisition.
• The exercise price of stock options set at $58.35 aligns with market value.

Negative

• None.

CAMBRIDGE, Mass., May 5, 2022 /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 May 1, 2022, the Compensation Committee of Blueprint Medicines' Board of Directors granted non-qualified stock options to purchase an aggregate of 40,684 shares of its common stock and an aggregate of 20,335 restricted stock units (RSUs) to twenty-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 $58.35 per share, which is equal to the closing price of Blueprint Medicines' common stock on April 29, 2022. 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 are delivering approved medicines directly to patients in the United States and Europe, and we are globally advancing multiple programs for systemic mastocytosis, lung cancer and other genomically defined cancers, 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 stock options were granted by Blueprint Medicines on May 1, 2022?

Blueprint Medicines granted 40,684 stock options and 20,335 restricted stock units (RSUs) to twenty-three new employees as part of its 2020 Inducement Plan.

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

The exercise price of the stock options granted by Blueprint Medicines is $58.35 per share.

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

The 2020 Inducement Plan facilitates equity awards for new employees as an inducement to join the company, in compliance with NASDAQ Listing Rules.

How do the stock options vest for new employees at BPMC?

The stock options vest 25% on the first anniversary of the grant date, with the remaining shares vesting monthly thereafter, contingent upon continued employment.