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

Rhea-AI Summary

Insmed (Nasdaq: INSM) has granted inducement awards to 27 new employees as of November 1, 2024. The awards consist of options to purchase a total of 66,740 shares of common stock at an exercise price of $68.32 per share, which was the closing price on Nasdaq Global Select Market on the grant date. These stock options have a 10-year term and follow a four-year vesting schedule: 25% vests after one year, followed by 12.5% vesting every six months until the fourth anniversary, contingent on continued employment.

Positive

• Stock price at $68.32 indicates strong market valuation
• Company continues to expand workforce with 27 new hires

Negative

• Stock option grants may lead to future dilution of existing shareholders

BRIDGEWATER, N.J., Nov. 7, 2024 /PRNewswire/ -- Insmed Incorporated (Nasdaq: INSM), a people-first global biopharmaceutical company striving to deliver first- and best-in-class therapies to transform the lives of patients facing serious diseases, today announced the granting of inducement awards to 27 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, 2024 to purchase an aggregate 66,740 shares of Insmed common stock at an exercise price of $68.32 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 people-first global biopharmaceutical company striving to deliver first- and best-in-class therapies to transform the lives of patients facing serious diseases. The Company is advancing a diverse portfolio of approved and mid- to late-stage investigational medicines as well as cutting-edge drug discovery focused on serving patient communities where the need is greatest. Insmed's most advanced programs are in pulmonary and inflammatory conditions, including a therapy approved in the United States, Europe, and Japan to treat a chronic, debilitating lung disease. The Company's early-stage research programs encompass a wide range of technologies and modalities, including gene therapy, AI-driven protein engineering, protein manufacturing, RNA end-joining, and synthetic rescue.

Headquartered in Bridgewater, New Jersey, Insmed has offices and research locations throughout the United States, Europe, and Japan. Insmed is proud to be recognized as one of the best employers in the biopharmaceutical industry, including spending four consecutive years as the No. 1 Science Top Employer. Visit www.insmed.com to learn more.

Contact:

Investors:

Bryan Dunn
Executive Director, Investor Relations
(646) 812-4030
bryan.dunn@insmed.com 

Michael V. Morabito, Ph.D.
Director, Investor Relations
(917) 936-8430
michael.morabito@insmed.com

Gianna De Palma
Manager, Investor Relations
(873) 886-2236
gianna.depalma@insmed.com

Media:

Mandy Fahey
Vice President, Corporate Communications
(732) 718-3621
amanda.fahey@insmed.com

 

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SOURCE Insmed Incorporated

FAQ

How many shares were granted in Insmed's November 2024 inducement awards?

Insmed granted options to purchase 66,740 shares of common stock to 27 new employees.

What is the exercise price for Insmed's (INSM) November 2024 stock options?

The exercise price for the stock options is $68.32 per share, which was the closing price on the Nasdaq Global Select Market on November 1, 2024.

What is the vesting schedule for Insmed's November 2024 inducement grants?

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