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

Rhea-AI Summary

Insmed Incorporated (Nasdaq: INSM) announced on July 8, 2021, the granting of inducement awards to 12 new employees, approved by the Compensation Committee in accordance with NASDAQ Listing Rule 5635(c)(4). Each employee received options to purchase 72,350 shares of common stock at an exercise price of $29.47, the closing price on July 1, 2021. The options have a ten-year term with a four-year vesting schedule. Insmed is focused on developing therapies for serious and rare diseases, including a commercial product approved in the U.S., Europe, and Japan.

Positive

• Inducement awards granted to 12 new employees indicate growth and hiring, which may enhance operational capacity.
• Options granted to employees at $29.47 reflect confidence in the company's stock value.

Negative

• None.

BRIDGEWATER, N.J., July 8, 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 12 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 July 1, 2021 to purchase an aggregate 72,350 shares of Insmed common stock at an exercise price of $29.47 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 inducement awards did Insmed grant on July 8, 2021?

Insmed granted inducement awards to 12 new employees, allowing them to purchase 72,350 shares of common stock at an exercise price of $29.47.

What is the vesting schedule for the inducement awards at Insmed?

The options have a four-year vesting schedule, with 25% vesting on the first anniversary and 12.5% every six months thereafter.

What is the significance of NASDAQ Listing Rule 5635(c)(4) for Insmed?

The rule allows the company to grant inducement awards as a material incentive for new employees, helping to attract talent.

What does Insmed focus on in its business operations?

Insmed focuses on developing treatments for serious and rare diseases, with a robust pipeline of investigational therapies.