Insmed Reports Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)

Rhea-AI Summary

Insmed Incorporated announced the granting of inducement awards to 10 new employees as part of their recruitment strategy. Each employee received options to purchase a total of 74,410 shares of common stock at an exercise price of $23.71, aligning with the market closing price on February 1, 2022. The options have a 10-year term with a four-year vesting schedule. Insmed focuses on transforming lives through treatments for serious and rare diseases, and it is advancing a pipeline targeting unmet medical needs.

Positive

• Induction awards granted to 10 new employees may enhance talent acquisition.
• Options priced at $23.71 reflect the current market value, which supports employee confidence.

Negative

• None.

BRIDGEWATER, N.J., Feb. 4, 2022 /PRNewswire/ -- Insmed Incorporated (Nasdaq: INSM), a global biopharmaceutical company on a mission to transform the lives of patients with serious and rare diseases, today announced the granting of inducement awards to 10 new employees. In accordance with NASDAQ Listing Rule 5635(c)(4), the awards were approved by Insmed's Compensation Committee and made as a material inducement to each employee's entry into employment with the Company.

In connection with the commencement of their employment, the employees received options on February 1, 2022 to purchase an aggregate 74,410 shares of Insmed common stock at an exercise price of $23.71 per share, the closing trading price on the Nasdaq Global Select Market on the date of grant.

The options have a 10-year term and a four-year vesting schedule, with 25% of the shares subject to the option vesting on the first anniversary of the relevant grant date and 12.5% of the shares subject to the option vesting every six months thereafter through the fourth anniversary of the relevant grant date, subject to the relevant employee's continued service with Insmed on the applicable vesting date.

About Insmed

Insmed Incorporated is a global biopharmaceutical company on a mission to transform the lives of patients with serious and rare diseases. Insmed's first commercial product is a first-in-disease therapy approved in the United States, Europe, and Japan to treat a chronic, debilitating lung disease. The Company is also progressing a robust pipeline of investigational therapies targeting areas of serious unmet need, including neutrophil-mediated inflammatory diseases and rare pulmonary disorders. Insmed is headquartered in Bridgewater, New Jersey, with a growing footprint across Europe and in Japan. For more information, visit www.insmed.com.

Contact:

Investors:

Eleanor Barisser
Associate Director, Investor Relations
Insmed
(718) 594-5332
eleanor.barisser@insmed.com 

Media:

Mandy Fahey
Executive Director, Corporate Communications
Insmed
(732) 718-3621
amanda.fahey@insmed.com

 

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SOURCE Insmed Incorporated

FAQ

What was announced by Insmed on February 4, 2022?

Insmed announced the granting of inducement awards to 10 new employees.

How many shares were granted to new employees by Insmed?

A total of 74,410 shares of common stock were granted.

What is the exercise price for the options granted to Insmed employees?

The exercise price is $23.71 per share.

What is the vesting schedule for the options granted by Insmed?

The options have a four-year vesting schedule with 25% vesting after the first year and 12.5% every six months thereafter.