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

Rhea-AI Summary

Insmed Incorporated (Nasdaq: INSM) announced that it has granted inducement awards to 24 new employees as part of their employment offer. The approved awards, compliant with NASDAQ Listing Rule 5635(c)(4), include options to purchase 158,530 shares of common stock at an exercise price of $17.93 per share, equivalent to the closing price on June 1, 2022. The options have a 10-year term and a four-year vesting schedule. Insmed is focused on therapies for serious and rare diseases, with a strong commitment to enhancing patient lives.

Positive

• Granting options encourages employee retention and aligns interests with shareholders.
• Inducement awards may enhance the company's ability to attract talent.

Negative

• None.

BRIDGEWATER, N.J., June 3, 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 24 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 June 1, 2022 to purchase an aggregate 158,530 shares of Insmed common stock at an exercise price of $17.93 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 inducement awards did Insmed grant to new employees?

Insmed granted options to purchase 158,530 shares of common stock at an exercise price of $17.93 to 24 new employees.

What is the term and vesting schedule of the options granted by Insmed?

The options have a 10-year term and a four-year vesting schedule.

Under which NASDAQ rule did Insmed grant the inducement awards?

The inducement awards were granted in accordance with NASDAQ Listing Rule 5635(c)(4).

When were the stock options granted by Insmed?

The stock options were granted on June 1, 2022.