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 ten new employees, as per NASDAQ Listing Rule 5635(c)(4). The new hires received options to purchase 35,910 shares at an exercise price of $25.19, the closing price on September 1, 2022. The options are set to vest over four years, with 25% vesting after the first year and 12.5% every six months thereafter. Insmed is focused on treatments for serious and rare diseases and has launched a first-in-disease therapy for a chronic lung condition.

Positive

• Inducement awards granted to 10 new employees, potentially enhancing workforce.
• Share options set at $25.19, aligning employees' interests with shareholder value.

Negative

• None.

BRIDGEWATER, N.J., Sept. 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 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 September 1, 2022 to purchase an aggregate 35,910 shares of Insmed common stock at an exercise price of $25.19 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

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/insmed-reports-inducement-grants-under-nasdaq-listing-rule-5635c4-301618977.html

SOURCE Insmed Incorporated

FAQ

What are the details of the inducement awards granted by Insmed on September 1, 2022?

Insmed granted inducement awards to 10 new employees, providing options to purchase 35,910 shares at an exercise price of $25.19.

How long is the vesting period for the stock options granted to Insmed employees?

The options have a 10-year term and a four-year vesting schedule, with 25% vesting after the first year and 12.5% every six months thereafter.

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

This rule allows Insmed to grant inducement awards to attract new employees by offering stock options, helping to align their incentives with company performance.