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

Rhea-AI Summary

Flexion Therapeutics (Nasdaq:FLXN) announced equity inducement grants to two new employees, totaling 3,315 restricted stock units, approved by the Board of Directors on November 2, 2020. These units will vest over four years, with 25% vesting annually, contingent upon the employees' continued service. This issuance aligns with Nasdaq Listing Rule 5635(c)(4) and is governed by the company's 2013 Equity Incentive Plan. Flexion specializes in developing treatments for musculoskeletal conditions, especially osteoarthritis.

Positive

• Equity inducement grants may attract skilled employees, fostering growth.
• Restricted stock units align employee interests with shareholder success through vesting.

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• None.

BURLINGTON, Mass., Nov. 06, 2020 (GLOBE NEWSWIRE) -- Flexion Therapeutics, Inc. (Nasdaq:FLXN) today announced equity inducement grants to two new employees consisting of 3,315 restricted stock units. The Compensation Committee of the Board of Directors approved the grants with an effective date of November 2, 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 equity inducement grants were announced by Flexion Therapeutics on November 6, 2020?

Flexion Therapeutics announced 3,315 restricted stock units as equity inducement grants to two new employees, effective November 2, 2020.

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.

Under which rule were the restricted stock units granted by Flexion Therapeutics?

The restricted stock units were granted in accordance with Nasdaq Listing Rule 5635(c)(4).

What is the focus of Flexion Therapeutics as a biopharmaceutical company?

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