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

Rhea-AI Summary

Flexion Therapeutics (Nasdaq:FLXN) has announced equity inducement grants to six new employees, totaling 22,798 restricted stock units. These grants, approved by the Compensation Committee and effective December 1, 2020, are designed to incentivize new hires in accordance with Nasdaq Listing Rule 5635(c)(4). The units will vest over four years, with 25% vesting each year, contingent on the employees' continued service. The grants are governed by the Company's 2013 Equity Incentive Plan.

Positive

• Equity inducement grants enhance employee retention.
• The grant aligns employee incentives with the company's performance.

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• None.

BURLINGTON, Mass., Dec. 04, 2020 (GLOBE NEWSWIRE) -- Flexion Therapeutics, Inc. (Nasdaq:FLXN) today announced equity inducement grants to six new employees consisting of 22,798 restricted stock units. The Compensation Committee of the Board of Directors approved the grants with an effective date of December 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. 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 are the details of the equity inducement grants by Flexion Therapeutics (FLXN)?

Flexion Therapeutics granted 22,798 restricted stock units to six new employees, effective December 1, 2020, which vest over four years.

How do the restricted stock units at Flexion Therapeutics vest?

The restricted stock units vest 25% annually over four years, subject to continued employment.

What is the purpose of the stock grants announced by Flexion Therapeutics on December 1, 2020?

The stock grants serve as inducements for new employees to join Flexion Therapeutics.