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

Rhea-AI Summary

On May 6, 2022, Insmed Incorporated (Nasdaq: INSM) announced the granting of inducement awards to 10 new employees as per NASDAQ Listing Rule 5635(c)(4). These awards include options to purchase 70,080 shares of common stock at $22.45 per share, the closing price on May 2, 2022. The options have a 10-year term with a four-year vesting schedule. Insmed is focused on transforming the lives of patients with serious and rare diseases, with its first commercial product approved in the U.S., Europe, and Japan.

Positive

• Insmed granted options for 70,080 shares, incentivizing new talent.
• Options are priced at the market closing price, reflecting a strong employment strategy.

Negative

• None.

BRIDGEWATER, N.J., May 6, 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 10 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 May 2, 2022 to purchase an aggregate 70,080 shares of Insmed common stock at an exercise price of $22.45 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 is the purpose of the inducement awards granted by Insmed?

The inducement awards were granted to incentivize 10 new employees for joining Insmed.

What is the exercise price for the stock options granted by Insmed?

The exercise price for the stock options is $22.45 per share.

When were the stock options granted to the new employees of Insmed?

The stock options were granted on May 2, 2022.

How long is the vesting schedule for the stock options at Insmed?

The stock options have a four-year vesting schedule.

What stock symbol is associated with Insmed?

Insmed is traded under the stock symbol INSM on Nasdaq.