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

Rhea-AI Summary

Flexion Therapeutics (Nasdaq:FLXN) has granted 18,200 restricted stock units to eight new employees as equity inducement, effective May 3, 2021. This decision was approved by the Compensation Committee and follows Nasdaq Listing Rule 5635(c)(4). The units will vest over four years, contingent on continued employment. The grants align with Flexion's strategic focus on recruiting talent to advance its portfolio of local therapies for musculoskeletal conditions, notably osteoarthritis.

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• Equity inducement grants of 18,200 restricted stock units signal company growth and commitment to attracting talent.

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• None.

BURLINGTON, Mass., May 07, 2021 (GLOBE NEWSWIRE) -- Flexion Therapeutics, Inc. (Nasdaq:FLXN) today announced equity inducement grants to eight new employees consisting of 18,200 restricted stock units. The Compensation Committee of the Board of Directors approved the grants with an effective date of May 3, 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 was announced by Flexion Therapeutics on May 7, 2021?

On May 7, 2021, Flexion Therapeutics announced equity inducement grants of 18,200 restricted stock units to eight new employees.

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

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

What is the purpose of the stock unit grants at Flexion Therapeutics?

The stock unit grants were issued as inducements material to the employees entering employment with Flexion Therapeutics.

Which rule governs the stock unit grants by Flexion Therapeutics?

The stock unit grants were made in accordance with Nasdaq Listing Rule 5635(c)(4).

What is Flexion Therapeutics focused on?

Flexion Therapeutics focuses on developing and commercializing novel local therapies for musculoskeletal conditions, especially osteoarthritis.