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

Rhea-AI Summary

Blueprint Medicines Corporation (NASDAQ: BPMC) announced on October 5, 2021, the grant of non-qualified stock options for 24,068 shares and 12,033 restricted stock units (RSUs) to eight new employees, effective October 1, 2021. These grants are part of their 2020 Inducement Plan, aimed at attracting new talent. The options have an exercise price of $101.72 per share, matching the closing stock price on the grant date. Both the options and RSUs will vest over a period, contingent on continued employment.

Positive

• Attraction of new talent through the grants of stock options and RSUs.
• The exercise price of stock options aligns with the market price, possibly reflecting favorable conditions.

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• None.

CAMBRIDGE, Mass., Oct. 5, 2021 /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 October 1, 2021, the Compensation Committee of Blueprint Medicines' Board of Directors granted non-qualified stock options to purchase an aggregate of 24,068 shares of its common stock and an aggregate of 12,033  restricted stock units (RSUs) to eight 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 $101.72 per share, which is equal to the closing price of Blueprint Medicines' common stock on October 1, 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 stock options were granted by BPMC on October 1, 2021?

BPMC granted non-qualified stock options to purchase 24,068 shares and 12,033 restricted stock units (RSUs) on October 1, 2021.

What is the exercise price of BPMC's stock options?

The exercise price for BPMC's stock options is $101.72 per share.

What plan is used for the equity grants at BPMC?

The equity grants were made under Blueprint Medicines' 2020 Inducement Plan.

Who received the stock options and RSUs from BPMC?

The stock options and RSUs were granted to eight new employees at BPMC.

What is the vesting schedule for BPMC's equity awards?

The options and RSUs vest over time, with 25% vesting on the first anniversary and the remainder vesting monthly or annually thereafter.