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

Rhea-AI Summary

Insmed Incorporated (Nasdaq:INSM) announced inducement awards to 11 new employees as per NASDAQ Listing Rule 5635(c)(4). The awards, approved by the Compensation Committee, include options to purchase a total of 59,020 shares at an exercise price of $25.17, equal to the closing price on June 1, 2021. The options have a ten-year term, with a four-year vesting schedule. Insmed focuses on transforming the lives of patients with serious and rare diseases, offering therapies for chronic lung diseases and advancing a pipeline targeting serious unmet medical needs.

Positive

• Inducement awards granted to 11 new employees, possibly enhancing talent acquisition.
• Options to purchase shares at $25.17, aligning with the current market price.

Negative

• None.

BRIDGEWATER, N.J., June 4, 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 11 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, 2021 to purchase an aggregate 59,020 shares of Insmed common stock at an exercise price of $25.17 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 details of the inducement awards granted by Insmed (INSM)?

Insmed granted inducement awards to 11 new employees, which included options to purchase an aggregate 59,020 shares at an exercise price of $25.17.

How long do the options awarded by Insmed (INSM) last?

The options have a ten-year term with a four-year vesting schedule.

When were the inducement awards to employees of Insmed (INSM) approved?

The inducement awards were approved on June 1, 2021.

What is the purpose of the inducement awards granted by Insmed (INSM)?

The awards were made as a material inducement to the entry of each employee into employment with Insmed.

Why are inducement awards important for Insmed (INSM)?

They enhance talent acquisition and align employee interests with the company's stock performance.