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

Rhea-AI Summary

Insmed Incorporated (Nasdaq: INSM) announced the granting of inducement awards to six new employees, totaling 43,610 stock options exercisable at $26.69 per share. These options come with a ten-year term and a four-year vesting schedule, with 25% vesting after one year and the remainder vesting semi-annually thereafter. This move, compliant with NASDAQ Listing Rule 5635(c)(4), aims to attract talent into the company. Insmed focuses on treating serious and rare diseases, with an approved therapy for a chronic lung disease and a pipeline of investigational therapies.

Positive

• Attraction of talent through inducement awards, enhancing workforce capabilities.
• Compliance with NASDAQ rules demonstrates adherence to corporate governance standards.

Negative

• No immediate financial metrics provided to assess impact on shareholder value.

BRIDGEWATER, N.J., Dec. 6, 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 six 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 December 1, 2021 to purchase an aggregate 43,610 shares of Insmed common stock at an exercise price of $26.69 per share, the closing trading price on the Nasdaq Global Select Market on the date of grant.

The options have a ten-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
Senior Director, Corporate Communications
Insmed
(732) 718-3621
amanda.fahey@insmed.com

 

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SOURCE Insmed Incorporated

FAQ

What are the stock options granted to employees at Insmed?

Insmed granted 43,610 stock options to six new employees, with an exercise price of $26.69 per share.

When did Insmed grant these inducement stock options?

The stock options were granted on December 1, 2021.

What is the vesting schedule for Insmed's stock options?

The options have a four-year vesting schedule, with 25% vesting on the first anniversary and the rest vesting semi-annually.

What is the purpose of the inducement stock options at Insmed?

The inducement stock options are intended to attract and retain top talent in the company.

Is the recent inducement award significant for Insmed shareholders?

The awards are a strategic move for talent acquisition, but no immediate financial metrics impact was reported.