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

Rhea-AI Summary

Flexion Therapeutics (Nasdaq:FLXN) announced equity inducement grants for four new employees, totaling 14,565 restricted stock units. Approved by the Compensation Committee, these grants became effective on March 1, 2021. The restricted stock units will vest over four years, with 25% vesting annually, contingent on the employees' ongoing service. This action is aligned with Nasdaq Listing Rule 5635(c)(4) and follows the company's 2013 Equity Incentive Plan.

Positive

• Inducement grants may attract talent, potentially benefiting company performance.
• Equity grants align employee incentives with shareholder interests.

Negative

• None.

BURLINGTON, Mass., March 05, 2021 (GLOBE NEWSWIRE) -- Flexion Therapeutics, Inc. (Nasdaq:FLXN) today announced equity inducement grants to four new employees consisting of 14,565 restricted stock units. The Compensation Committee of the Board of Directors approved the grants with an effective date of March 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 equity grants did Flexion Therapeutics announce on March 5, 2021?

Flexion Therapeutics announced 14,565 restricted stock units as equity inducement grants to four new employees on March 5, 2021.

When do the restricted stock units at Flexion Therapeutics vest?

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

What is the significance of the equity inducement grants for Flexion Therapeutics?

These grants are intended to incentivize new employees, aligning their interests with the company's goals and potentially enhancing performance.