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

Rhea-AI Summary

Flexion Therapeutics (Nasdaq: FLXN) announced the grant of 13,940 restricted stock units to three new employees as part of equity inducement, approved by its Compensation Committee. These grants, effective September 1, 2020, are intended to attract talent and vest over four years at a rate of 25% annually. The restricted stock units comply with Nasdaq Listing Rule 5635(c)(4) and are governed by the company's 2013 Equity Incentive Plan.

Positive

• Equity inducement grants to attract three new employees.
• Restricted stock units vesting over four years may enhance employee retention.

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• None.

BURLINGTON, Mass., Sept. 04, 2020 (GLOBE NEWSWIRE) -- Flexion Therapeutics, Inc. (Nasdaq:FLXN) today announced equity inducement grants to three new employees consisting of 13,940 restricted stock units. The Compensation Committee of the Board of Directors approved the grants with an effective date of September 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 did Flexion Therapeutics announce on September 4, 2020?

Flexion Therapeutics announced equity inducement grants of 13,940 restricted stock units to three new employees.

What are the terms of 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.

Why were the restricted stock units granted to new employees at Flexion Therapeutics?

The grants are intended as inducements to attract talent in accordance with Nasdaq Listing Rule 5635(c)(4).