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

Rhea-AI Summary

Flexion Therapeutics (Nasdaq:FLXN) announced equity inducement grants of 3,315 restricted stock units to two new employees, effective October 1, 2020. This grant aligns with Nasdaq Listing Rule 5635(c)(4) and is part of the company’s hiring strategy. The restricted stock units will vest over four years, with 25% vesting annually, contingent on the employees' continued service. These grants are governed by the 2013 Equity Incentive Plan and a related agreement. Flexion Therapeutics focuses on developing novel therapies for musculoskeletal conditions, particularly osteoarthritis.

Positive

• Equity inducement grants may attract skilled employees, enhancing workforce quality.
• The vesting schedule incentivizes employee retention and aligns employee interests with company performance.

Negative

• None.

BURLINGTON, Mass., Oct. 02, 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 October 1, 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 is the significance of the equity inducement grants by Flexion Therapeutics?

The equity inducement grants are intended to attract and retain new talent, essential for the company's growth and innovation in biopharmaceuticals.

How many restricted stock units were granted by Flexion Therapeutics?

Flexion Therapeutics granted a total of 3,315 restricted stock units to two 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 on each annual anniversary of the vesting commencement date.

Under what Nasdaq rule were the equity inducement grants made?

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