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 five new employees effective November 1, 2020. The total includes 16,513 stock options and 8,255 RSUs, awarded under the 2020 Inducement Plan. The options have an exercise price of $102.28, matching the stock's closing price on October 31, 2020. Options and RSUs will vest incrementally over time, contingent on continued employment.

Positive

• Granting of stock options and RSUs indicates commitment to attracting talent.
• Total of 24,768 equity awards enhances employee compensation structure.

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• None.

CAMBRIDGE, Mass., Nov. 3, 2020 /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 November 1, 2020, the Compensation Committee of Blueprint Medicines' Board of Directors granted non-qualified stock options to purchase an aggregate of 16,513 shares of its common stock and an aggregate of 8,255  restricted stock units (RSUs) to five 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 $102.28 per share, which is equal to the closing price of Blueprint Medicines' common stock on October 31, 2020. 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 precision therapy company striving to improve human health. With a focus on genomically defined cancers, rare diseases and cancer immunotherapy, we are developing transformational medicines rooted in our leading expertise in protein kinases, which are proven drivers of disease. Our uniquely targeted, scalable approach empowers the rapid design and development of new treatments and increases the likelihood of clinical success. We have two approved precision therapies and are currently advancing multiple investigational medicines in clinical and pre-clinical development, along with a number of earlier-stage research programs.  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 latest stock option grant by Blueprint Medicines (BPMC)?

On November 3, 2020, Blueprint Medicines announced the grant of 16,513 stock options under its 2020 Inducement Plan.

How many restricted stock units were granted by Blueprint Medicines (BPMC)?

Blueprint Medicines granted an aggregate of 8,255 restricted stock units (RSUs) to new employees.

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

The exercise price for the options is $102.28 per share, equal to the closing stock price on October 31, 2020.

What conditions are attached to the vesting of the stock options and RSUs at Blueprint Medicines (BPMC)?

The vesting of stock options and RSUs is subject to the employee's continued employment with Blueprint Medicines.