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

Rhea-AI Summary

Flexion Therapeutics (Nasdaq: FLXN) announced the grant of 6,315 restricted stock units to three new employees, approved by the Board of Directors as of October 1, 2021. These grants are intended as inducements for employment, in compliance with Nasdaq Listing Rule 5635(c)(4). The restricted stock units will vest over four years, with 25% vesting on each annual anniversary of the vesting commencement date, contingent on the employees' continued service. This action is part of the company's strategy to attract and retain talent.

BURLINGTON, Mass., Oct. 01, 2021 (GLOBE NEWSWIRE) -- Flexion Therapeutics, Inc. (Nasdaq:FLXN) today announced equity inducement grants to three new employees consisting of 6,315 restricted stock units. The Compensation Committee of the Board of Directors approved the grants with an effective date of October 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 Flexion Therapeutics' recent equity inducement grant?

Flexion Therapeutics granted 6,315 restricted stock units to three new employees as an inducement for joining the company.

When were the restricted stock units granted by Flexion Therapeutics?

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

What are the vesting terms 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.

What is the purpose of the equity inducement grants at Flexion Therapeutics?

The grants are intended to attract and retain talent in accordance with Nasdaq regulations.