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

Rhea-AI Summary

Insmed Incorporated (Nasdaq: INSM) announced the grant of inducement awards to 18 new employees on November 4, 2022. This was in compliance with NASDAQ Listing Rule 5635(c)(4) and approved by the Compensation Committee. Each new employee received options to purchase a total of 127,060 shares of common stock at an exercise price of $17.50, the closing price on November 1, 2022. The options have a 10-year term with a four-year vesting schedule.

Positive

• Inducement awards granted to 18 new employees, potentially enhancing talent acquisition.
• Options for 127,060 shares at $17.50, indicating alignment between employee and company performance.

Negative

• None.

BRIDGEWATER, N.J., Nov. 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 18 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, 2022 to purchase an aggregate 127,060 shares of Insmed common stock at an exercise price of $17.50 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 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 are the recent inducement awards granted by Insmed (INSM)?

Insmed granted inducement awards to 18 new employees, providing options to purchase 127,060 shares at $17.50 each.

When was the option grant date for Insmed's new employees?

The option grant date for Insmed's new employees was November 1, 2022.

How long is the vesting schedule for the options granted by Insmed?

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

What is the purpose of the inducement awards at Insmed?

The inducement awards serve as a material incentive for new employees to join the company.