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

Rhea-AI Summary

Insmed Incorporated (Nasdaq: INSM) announced the grant of inducement awards to 12 new employees as per NASDAQ Listing Rule 5635(c)(4). Approved by the Compensation Committee, these awards include options to purchase a total of 84,520 shares at an exercise price of $28.17 per share, which is the closing price on September 1, 2020. The options come with a ten-year term and a four-year vesting schedule, aimed at incentivizing employee retention and commitment to the company.

Positive

• Grants of inducement awards to 12 new employees enhance talent acquisition.
• Options to purchase 84,520 shares at $28.17 promote employee alignment with shareholder interests.

Negative

• None.

BRIDGEWATER, N.J., Sept. 4, 2020 /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 September 1, 2020 to purchase an aggregate 84,520 shares of Insmed common stock at an exercise price of $28.17 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, ARIKAYCE® (amikacin liposome inhalation suspension), is the first and only therapy approved in the United States for the treatment of refractory Mycobacterium avium complex (MAC) lung disease as part of a combination antibacterial drug regimen for adult patients with limited or no alternative treatment options. MAC lung disease is a chronic, debilitating condition that can cause severe and permanent lung damage. Insmed is also advancing brensocatib, a novel oral reversible inhibitor of dipeptidyl peptidase 1 with therapeutic potential in bronchiectasis and other inflammatory diseases, and treprostinil palmitil, an inhaled formulation of a treprostinil prodrug that may offer a differentiated product profile for rare pulmonary disorders, including pulmonary arterial hypertension. For more information, visit www.insmed.com.

Contact:

Investors:

Argot Partners
Laura Perry or Heather Savelle
(212) 600-1902
insmed@argotpartners.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 were granted by Insmed on September 1, 2020?

Insmed granted inducement awards to 12 new employees, including options to purchase 84,520 shares at $28.17 per share.

How long is the vesting schedule for the stock options granted by Insmed?

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

What is the exercise price of the stock options granted to Insmed employees?

The exercise price of the stock options granted is $28.17 per share.

Under which NASDAQ rule did Insmed award inducement grants?

The inducement grants were made in accordance with NASDAQ Listing Rule 5635(c)(4).

What is the purpose of the stock options awarded to new employees at Insmed?

The stock options are awarded as a material inducement to attract and retain new talent within the company.