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

Rhea-AI Summary

Insmed Incorporated (Nasdaq: INSM) announced on December 6, 2022, the granting of inducement awards to 15 new employees as per NASDAQ Listing Rule 5635(c)(4). These awards, aimed at encouraging new hires, involve options to purchase a total of 89,730 shares of common stock at an exercise price of $19.12 per share. The options come with a 10-year term and a four-year vesting schedule, contingent on continued employment. Insmed focuses on therapies for serious and rare diseases, with a commitment to transforming patient lives.

Positive

• Inducement awards enhance talent acquisition, supporting company growth and innovation.
• A total of 89,730 shares are allocated for new hires, promoting employee retention.

Negative

• None.

BRIDGEWATER, N.J., Dec. 6, 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 15 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 December 1, 2022 to purchase an aggregate 89,730 shares of Insmed common stock at an exercise price of $19.12 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 is the significance of Insmed's inducement awards on December 6, 2022?

The inducement awards signify Insmed's commitment to attracting new talent and enhancing its workforce, as per NASDAQ Listing Rule 5635(c)(4).

What are the terms of the stock options granted by Insmed?

The stock options grant employees the right to purchase 89,730 shares at $19.12 per share, with a 10-year term and a four-year vesting schedule.

How many shares were granted to Insmed's new employees?

Insmed granted options to purchase an aggregate of 89,730 shares to 15 new employees.

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

The exercise price for the shares granted to Insmed employees is $19.12 per share.

Who approved the inducement awards at Insmed?

The inducement awards were approved by Insmed's Compensation Committee.