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

Rhea-AI Summary

Blueprint Medicines Corporation (NASDAQ: BPMC) announced the grant of non-qualified stock options and restricted stock units to seven new employees, effective June 1, 2021. The total includes 49,102 stock options and 26,793 RSUs. Chief Scientific Officer Percy Carter received options for 39,200 shares and 21,843 RSUs. The options have an exercise price of $89.16, equal to the stock's closing price on the grant date. The awards are part of the 2020 Inducement Plan, aimed at attracting new talent under NASDAQ Listing Rule 5635(c)(4).

Positive

• Granting of stock options and RSUs indicates a commitment to attracting top talent.
• The 2020 Inducement Plan supports strategic hiring for growth.

Negative

• None.

CAMBRIDGE, Mass., June 4, 2021 /PRNewswire/ -- Blueprint Medicines Corporation (NASDAQ: BPMC) today announced that, effective on June 1, 2021, the Compensation Committee of Blueprint Medicines' Board of Directors granted non-qualified stock options to purchase an aggregate of 49,102 shares of its common stock and an aggregate of 26,793 restricted stock units (RSUs) to seven new employees, including a grant of non-qualified stock options to purchase 39,200 shares of common stock and 21,843 RSUs to Percy Carter, MBA, Ph.D., the company's recently appointed Chief Scientific Officer, 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 $89.16 per share, which is equal to the closing price of Blueprint Medicines' common stock on June 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 Blueprint Medicines on June 1, 2021?

Blueprint Medicines granted a total of 49,102 non-qualified stock options to seven new employees on June 1, 2021.

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

The exercise price of the stock options is $89.16 per share.

Who received the largest stock option grant at Blueprint Medicines?

Percy Carter, the newly appointed Chief Scientific Officer, received options to purchase 39,200 shares and 21,843 RSUs.

What purpose does the 2020 Inducement Plan serve for BPMC?

The 2020 Inducement Plan is used to grant equity awards as an inducement for new employees joining Blueprint Medicines.