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

Rhea-AI Summary

Insmed Incorporated (Nasdaq: INSM) has announced the granting of inducement awards to 52 new employees in accordance with NASDAQ Listing Rule 5635(c)(4). The awards, approved by Insmed's Compensation Committee, were made as a material inducement to each employee's entry into employment with the Company.

On October 1, 2024, the new employees received options to purchase an aggregate of 106,160 shares of Insmed common stock at an exercise price of $72.88 per share, which was 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% vesting on the first anniversary and 12.5% vesting every six months thereafter through the fourth anniversary, subject to continued service with Insmed.

Positive

• Granted stock options to 52 new employees, potentially attracting and retaining talent
• Options have a 10-year term, providing long-term incentives for employees
• Four-year vesting schedule encourages employee retention

Negative

• Potential dilution of existing shareholders due to the issuance of 106,160 new stock options

News Market Reaction – INSM

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+1.22% News Effect

On the day this news was published, INSM gained 1.22%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

BRIDGEWATER, N.J., Oct. 4, 2024 /PRNewswire/ -- Insmed Incorporated (Nasdaq: INSM), a people-first global biopharmaceutical company striving to deliver first- and best-in-class therapies to transform the lives of patients facing serious diseases, today announced the granting of inducement awards to 52 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 October 1, 2024 to purchase an aggregate 106,160 shares of Insmed common stock at an exercise price of $72.88 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 people-first global biopharmaceutical company striving to deliver first- and best-in-class therapies to transform the lives of patients facing serious diseases. The Company is advancing a diverse portfolio of approved and mid- to late-stage investigational medicines as well as cutting-edge drug discovery focused on serving patient communities where the need is greatest. Insmed's most advanced programs are in pulmonary and inflammatory conditions, including a therapy approved in the United States, Europe, and Japan to treat a chronic, debilitating lung disease. The Company's early-stage research programs encompass a wide range of technologies and modalities, including gene therapy, AI-driven protein engineering, protein manufacturing, RNA end-joining, and synthetic rescue.

Headquartered in Bridgewater, New Jersey, Insmed has offices and research locations throughout the United States, Europe, and Japan. Insmed is proud to be recognized as one of the best employers in the biopharmaceutical industry, including spending three consecutive years as the No. 1 Science Top Employer. Visit www.insmed.com to learn more.

Contact:

Investors:

Bryan Dunn
Executive Director, Investor Relations
Insmed
(646) 812-4030
bryan.dunn@insmed.com 

Media:

Mandy Fahey
Vice President, Corporate Communications
Insmed
(732) 718-3621
amanda.fahey@insmed.com

 

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SOURCE Insmed Incorporated

FAQ

How many new employees received inducement grants from Insmed (INSM) on October 1, 2024?

Insmed (INSM) granted inducement awards to 52 new employees on October 1, 2024.

What was the exercise price for the stock options granted by Insmed (INSM) on October 1, 2024?

The exercise price for the stock options granted by Insmed (INSM) on October 1, 2024, was $72.88 per share, which was the closing trading price on the Nasdaq Global Select Market on the date of grant.

What is the vesting schedule for the stock options granted by Insmed (INSM) to new employees?

The stock options granted by Insmed (INSM) have a four-year vesting schedule, with 25% vesting on the first anniversary and 12.5% vesting every six months thereafter through the fourth anniversary, subject to continued service with the company.

How many shares of Insmed (INSM) common stock were included in the aggregate stock options granted on October 1, 2024?

Insmed (INSM) granted stock options to purchase an aggregate of 106,160 shares of common stock on October 1, 2024.