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

Rhea-AI Summary

Flexion Therapeutics (Nasdaq:FLXN) announced equity inducement grants to five new employees comprising 60,880 restricted stock units. This decision, approved by the Compensation Committee on April 1, 2021, aligns with Nasdaq Listing Rule 5635(c)(4). The restricted stock units will vest over four years, with 25% vesting annually, contingent on continued employment. These grants fall under the terms of the Company’s 2013 Equity Incentive Plan, designed to enhance employee retention and incentivize performance.

Positive

• Equity inducement grants signify commitment to attracting talent.
• Restricted stock units vesting over four years promote employee retention.

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• None.

BURLINGTON, Mass., April 02, 2021 (GLOBE NEWSWIRE) -- Flexion Therapeutics, Inc. (Nasdaq:FLXN) today announced equity inducement grants to five new employees consisting of 60,880 restricted stock units. The Compensation Committee of the Board of Directors approved the grants with an effective date of April 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 inducement grants were announced by Flexion Therapeutics on April 2, 2021?

Flexion Therapeutics announced equity inducement grants consisting of 60,880 restricted stock units to five new employees.

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.

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

The grants are intended to attract and retain talented employees in accordance with Nasdaq Listing Rules.

Which plan governs the restricted stock units granted by Flexion Therapeutics?

The restricted stock units are subject to the terms of the Company’s 2013 Equity Incentive Plan.