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

Rhea-AI Summary

Blueprint Medicines Corporation (NASDAQ: BPMC) announced the grant of stock options and restricted stock units (RSUs) to 14 new employees, effective August 1, 2022. The 29,359 stock options have an exercise price of $50.60, matching the closing price on the grant date. Each option will vest 25% after one year, with further monthly vesting. The 14,675 RSUs will also vest 25% annually after the first year. This move aligns with the company's 2020 Inducement Plan aimed at attracting new talent as per NASDAQ Listing Rules.

Positive

• Grant of 29,359 stock options and 14,675 RSUs to new employees enhances workforce and talent acquisition.
• Equity incentives align employee interests with shareholder value, potentially improving performance.

Negative

• None.

CAMBRIDGE, Mass., Aug. 4, 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 August 1, 2022, the Compensation Committee of Blueprint Medicines' Board of Directors granted non-qualified stock options to purchase an aggregate of 29,359 shares of its common stock and an aggregate of 14,675  restricted stock units (RSUs) to fourteen 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 $50.60 per share, which is equal to the closing price of Blueprint Medicines' common stock on August 1, 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 our scientific innovation into a broad pipeline of important approved and investigational precision therapies aimed at addressing difficult-to-treat cancers and blood disorders. Today, we are delivering our approved medicines to patients in the United States, Europe, and in other geographies ourselves or through our partners.  In addition, we are globally advancing multiple programs for systemic mastocytosis, lung cancer, breast 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 did Blueprint Medicines grant to employees?

Blueprint Medicines granted 29,359 stock options to new employees, with an exercise price of $50.60.

How many restricted stock units (RSUs) were awarded by Blueprint Medicines?

Blueprint Medicines awarded 14,675 restricted stock units (RSUs) to fourteen new employees.

What is the vesting schedule for the stock options granted by Blueprint Medicines?

The options will vest 25% after one year and an additional 1/48th monthly thereafter.

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

The 2020 Inducement Plan is designed to grant equity awards to attract new employees.

When were the stock options and RSUs granted by Blueprint Medicines?

The stock options and RSUs were granted effective August 1, 2022.