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

Rhea-AI Summary

Blueprint Medicines Corporation (NASDAQ: BPMC) announced on February 4, 2022, that its Compensation Committee granted non-qualified stock options for 26,212 shares and 13,103 restricted stock units (RSUs) to 15 new employees, effective February 1, 2022. These grants are part of Blueprint's 2020 Inducement Plan, aimed at attracting new talent. The options have an exercise price of $79.16 per share, reflecting the stock's closing price on the grant date. Vesting occurs over several years, contingent upon continued employment.

Positive

• Grants incentivize talent acquisition, enhancing workforce capabilities.
• Options and RSUs align employee interests with shareholder value.

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• None.

CAMBRIDGE, Mass., Feb. 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 on February 1, 2022, the Compensation Committee of Blueprint Medicines' Board of Directors granted non-qualified stock options to purchase an aggregate of 26,212 shares of its common stock and an aggregate of 13,103 restricted stock units (RSUs) to fifteen 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 $79.16 per share, which is equal to the closing price of Blueprint Medicines' common stock on February 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 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 is the date of the stock option grant by Blueprint Medicines?

The stock option grant by Blueprint Medicines was effective on February 1, 2022.

How many shares were granted as stock options by Blueprint Medicines?

Blueprint Medicines granted stock options to purchase an aggregate of 26,212 shares.

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

The exercise price for the stock options is $79.16 per share.

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

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

Who received the stock options and RSUs from Blueprint Medicines?

Fifteen new employees received stock options and restricted stock units (RSUs) from Blueprint Medicines.