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

Rhea-AI Summary

Flexion Therapeutics (Nasdaq:FLXN) announced the grant of 20,440 restricted stock units to five new employees, approved by its Compensation Committee with an effective date of July 1, 2021. These stock units, designed to attract talent, will vest over four years, with 25% vesting annually, contingent on the employees' ongoing service. The grants conform to Nasdaq Listing Rule 5635(c)(4) and are subject to the company's 2013 Equity Incentive Plan.

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• Inducement grants of 20,440 restricted stock units could enhance employee retention and motivation.

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BURLINGTON, Mass., July 02, 2021 (GLOBE NEWSWIRE) -- Flexion Therapeutics, Inc. (Nasdaq:FLXN) today announced equity inducement grants to five new employees consisting of 20,440 restricted stock units. The Compensation Committee of the Board of Directors approved the grants with an effective date of July 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 purpose of the equity inducement grants by Flexion Therapeutics?

The equity inducement grants aim to attract and retain new employees by offering restricted stock units that vest over four years.

When were the restricted stock units granted by Flexion Therapeutics?

The restricted stock units were granted on July 1, 2021.

How many restricted stock units were granted to Flexion Therapeutics' new employees?

A total of 20,440 restricted stock units were granted to five new employees.

What is the vesting schedule for the restricted stock units at Flexion Therapeutics?

The restricted stock units vest over four years, with 25% vesting annually.

What rule governs the restricted stock unit grants by Flexion Therapeutics?

The grants are in accordance with Nasdaq Listing Rule 5635(c)(4).