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

Rhea-AI Summary

Insmed Incorporated (Nasdaq: INSM) announced on April 7, 2022, the granting of inducement awards to 20 new employees as part of NASDAQ Listing Rule 5635(c)(4). Each employee received options to purchase a total of 107,680 shares at an exercise price of $24.47 per share, which was the closing price on April 1, 2022. The options come with a 10-year term and a four-year vesting schedule. Insmed focuses on developing therapies for serious and rare diseases, with its first product approved in the US, Europe, and Japan.

Positive

• Inducement awards granted to 20 new employees, potentially enhancing talent acquisition.
• Options granted at a competitive exercise price of $24.47, stimulating employee investment in the company.

Negative

• None.

BRIDGEWATER, N.J., April 7, 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 20 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 April 1, 2022 to purchase an aggregate 107,680 shares of Insmed common stock at an exercise price of $24.47 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 did Insmed announce on April 7, 2022?

Insmed announced inducement awards to 20 new employees under NASDAQ Listing Rule 5635(c)(4), granting options for 107,680 shares.

What was the exercise price of the stock options granted by Insmed?

The exercise price for the stock options granted by Insmed was $24.47 per share.

How long is the term for the stock options granted by Insmed?

The stock options granted by Insmed have a 10-year term.

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

The inducement awards have a four-year vesting schedule.

What type of company is Insmed?

Insmed is a global biopharmaceutical company focused on therapies for serious and rare diseases.