Flexion Therapeutics Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Flexion Therapeutics, Inc. (Nasdaq: FLXN) announced on August 7, 2020, that it granted equity inducement to two new employees, comprising 25,315 restricted stock units (RSUs). Approved by the Board's Compensation Committee on August 3, 2020, these RSUs vest over four years, with 25% vesting annually, contingent on continued employment with the company. The grants align with the Nasdaq Listing Rule 5635(c)(4) and are governed by the 2013 Equity Incentive Plan. Flexion Therapeutics focuses on innovative local therapies for musculoskeletal conditions, including osteoarthritis.

Positive

• The equity inducement grants may help attract and retain talent, benefiting the company's workforce.
• The RSUs vesting over four years can motivate employees to remain with the company, potentially improving long-term performance.

Negative

• None.

BURLINGTON, Mass., Aug. 07, 2020 (GLOBE NEWSWIRE) -- Flexion Therapeutics, Inc. (Nasdaq:FLXN) today announced equity inducement grants to two new employees consisting of 25,315 restricted stock units. The Compensation Committee of the Board of Directors approved the grants with an effective date of August 3, 2020. The restricted stock units were granted as inducements material to the employees entering into employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4).

The restricted stock units vest over four years, with 25% of the shares vesting on each annual anniversary of the applicable vesting commencement date, subject to the new employee’s continued service relationship with the Company.  

The restricted stock units are subject to the terms and conditions of the Company's 2013 Equity Incentive Plan and a restricted stock unit agreement covering the grant.

About Flexion Therapeutics
Flexion Therapeutics (Nasdaq:FLXN) is a biopharmaceutical company focused on the development and commercialization of novel, local therapies for the treatment of patients with musculoskeletal conditions, beginning with osteoarthritis, the most common form of arthritis. The Company's core values are focus, ingenuity, tenacity, transparency and fun. Visit flexiontherapeutics.com.

Contact:
Scott Young
Vice President, Corporate Communications & Investor Relations
Flexion Therapeutics, Inc.
T: 781-305-7194
syoung@flexiontherapeutics.com

FAQ

What are the details of the equity inducement grants by Flexion Therapeutics?

Flexion Therapeutics granted 25,315 restricted stock units to two new employees, approved on August 3, 2020, with a vesting schedule over four years.

What is the purpose of the restricted stock units granted by Flexion Therapeutics?

The RSUs were granted as an inducement for new employees to join the company, according to Nasdaq Listing Rule 5635(c)(4).

How does the vesting schedule of the RSUs work for Flexion Therapeutics?

The RSUs vest over four years, with 25% vesting on each annual anniversary of the vesting commencement date.