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

Rhea-AI Summary

Flexion Therapeutics (Nasdaq:FLXN) announced the granting of 8,510 restricted stock units to five new employees as equity inducement, with an effective date of June 1, 2021. This grant was approved by the Compensation Committee of the Board of Directors, in line with Nasdaq Listing Rule 5635(c)(4). The units will vest over four years, with 25% vesting annually, contingent on continued employment. This move aims to attract and retain talent within the company, which focuses on developing innovative therapies for musculoskeletal conditions, including osteoarthritis.

Positive

• Granting of 8,510 restricted stock units to new employees to attract talent.
• Equity inducement aligns employee interests with shareholder value.

Negative

• None.

BURLINGTON, Mass., June 04, 2021 (GLOBE NEWSWIRE) -- Flexion Therapeutics, Inc. (Nasdaq:FLXN) today announced equity inducement grants to five new employees consisting of 8,510 restricted stock units. The Compensation Committee of the Board of Directors approved the grants with an effective date of June 1, 2021. 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. Please visit flexiontherapeutics.com.

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

FAQ

What is the equity inducement grant announced by Flexion Therapeutics on June 4, 2021?

Flexion Therapeutics announced an equity inducement grant of 8,510 restricted stock units to five new employees, effective June 1, 2021.

How do the restricted stock units vest for new employees at Flexion Therapeutics?

The restricted stock units vest over four years, with 25% vesting on each annual anniversary of the grant.

What is the purpose of the equity inducement grants by Flexion Therapeutics?

The grants aim to attract and retain talent as part of the company's employment strategy.

Which Nasdaq listing rule did Flexion Therapeutics follow for the equity grant?

Flexion Therapeutics complied with Nasdaq Listing Rule 5635(c)(4) for the equity inducement grants.

What is the focus of Flexion Therapeutics as a company?

Flexion Therapeutics is focused on developing and commercializing local therapies for musculoskeletal conditions, particularly osteoarthritis.