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

Rhea-AI Summary

Blueprint Medicines announced the granting of non-qualified stock options and restricted stock units to new employees under their 2020 Inducement Plan. The options have an exercise price of $94.86 per share and will vest over time based on continued employment.

CAMBRIDGE, Mass., May 6, 2024 /PRNewswire/ -- Blueprint Medicines Corporation (Nasdaq: BPMC), today announced that, effective May 1, 2024, the Compensation Committee of Blueprint Medicines' Board of Directors granted non-qualified stock options to purchase an aggregate of 6,400 shares of its common stock and an aggregate of 3,200 restricted stock units (RSUs) to two 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 $94.86 per share, which is equal to the closing price of Blueprint Medicines' common stock on May 1, 2024. 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, fully integrated biopharmaceutical company that invents life-changing medicines. We seek to alleviate human suffering by solving important medical problems in two core focus areas: allergy/inflammation and oncology/hematology. Our approach begins by targeting the root causes of disease, using deep scientific knowledge in our core focus areas and drug discovery expertise across multiple therapeutic modalities. We have a track record of success with two approved medicines, including AYVAKIT®/AYVAKYT® (avapritinib), which we are bringing to patients with systemic mastocytosis (SM) in the U.S. and Europe. Leveraging our established research, development, and commercial capability and infrastructure, we now aim to significantly scale our impact by advancing a broad pipeline of programs ranging from early science to advanced clinical trials in mast cell diseases including SM and chronic urticaria, breast cancer and other solid tumors. For more information, visit www.BlueprintMedicines.com and follow us on X (formerly Twitter; @BlueprintMeds) and LinkedIn.

View original content to download multimedia:https://www.prnewswire.com/news-releases/blueprint-medicines-announces-inducement-grants-under-nasdaq-listing-rule-5635c4-302136893.html

SOURCE Blueprint Medicines Corporation

FAQ

What did Blueprint Medicines announce?

Blueprint Medicines announced the granting of stock options and restricted stock units to new employees.

What is the exercise price of the options granted?

The exercise price of the options is $94.86 per share.

How will the options and RSUs vest?

The options and RSUs will vest over time based on continued employment.

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

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