Insmed Reports Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)
Insmed has announced the grant of inducement awards to 15 new employees, approved by its Compensation Committee in accordance with NASDAQ Listing Rule 5635(c)(4). Each employee received options to purchase a total of 52,180 shares at an exercise price of $31.05, the closing price as of November 1, 2021. The options have a ten-year term and will vest over four years, with the first 25% vesting after one year, followed by 12.5% every six months. Insmed aims to improve the lives of patients with serious and rare diseases and continues expanding its pipeline of therapies.
- Inducement awards granted to 15 new employees indicate growth and expansion.
- Options to purchase 52,180 shares at $31.05 may incentivize employees and align their interests with shareholder value.
- None.
BRIDGEWATER, N.J., Nov. 5, 2021 /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 15 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 November 1, 2021 to purchase an aggregate 52,180 shares of Insmed common stock at an exercise price of
The options have a ten-year term and a four-year vesting schedule, with
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
Senior Director, Corporate Communications
Insmed
(732) 718-3621
amanda.fahey@insmed.com
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SOURCE Insmed Incorporated
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