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

Rhea-AI Summary

Insmed Incorporated (Nasdaq: INSM) announced the granting of inducement awards to eight new employees as part of its hiring strategy. The awards, compliant with NASDAQ Listing Rule 5635(c)(4), included options to purchase 42,320 shares of common stock at an exercise price of $24.13, the closing price on August 2, 2021. The options come with a ten-year term, featuring a four-year vesting schedule. Insmed aims to address serious and rare diseases with its therapies, focusing on unmet medical needs.

Positive

• Inducement awards could enhance talent acquisition and retention.
• The exercise price of $24.13 aligns with the market value, indicating fair compensation for new employees.

Negative

• None.

BRIDGEWATER, N.J., Aug. 6, 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 eight 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 August 2, 2021 to purchase an aggregate 42,320 shares of Insmed common stock at an exercise price of $24.13 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 inductions were announced by Insmed on August 6, 2021?

Insmed announced inducement awards for eight new employees involving options to purchase 42,320 shares of common stock.

What is the exercise price of the shares granted to new employees at Insmed?

The exercise price for the shares granted is $24.13, the closing price on August 2, 2021.

How long 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's inducement awards?

This rule requires the disclosure of inducement awards to ensure transparency in the hiring process.