Blueprint Medicines Corporation (Nasdaq: BPMC) has announced that as of March 1, 2024, the Compensation Committee of its Board of Directors has approved the granting of non-qualified stock options to purchase a total of 2,615 shares of its common stock and 1,307 restricted stock units (RSUs) to three newly hired employees under Blueprint Medicines’ 2020 Inducement Plan. This plan is specifically designated for offering equity awards to individuals who were not previously associated with Blueprint Medicines, serving as a material inducement for their employment, in accordance with Rule 5635(c)(4) of the Nasdaq Listing Rules.
The granted options are priced at $95.12 per share, matching the closing price of Blueprint Medicines’ common stock on March 1, 2024. Vesting for each option will occur in increments, with 25% of the underlying shares vesting on the first anniversary of the grant date, followed by an additional 1/48th of the shares monthly thereafter, contingent upon the employee’s continued employment. Similarly, each RSU will vest with 25% of the underlying shares on the first anniversary of the grant date and an additional 25% annually thereafter, subject to continued employment.
Both the options and RSUs are governed by the terms and conditions outlined in Blueprint Medicines’ 2020 Inducement Plan, as well as the specific agreements covering each grant.
Blueprint Medicines is a globally operating, fully integrated biopharmaceutical company focused on creating transformative medicines in allergy/inflammation and oncology/hematology. The company’s endeavors span from discovery to commercialization, targeting the underlying causes of diseases with precision. Currently, Blueprint Medicines is dedicated to providing AYVAKIT®/AYVAKYT® (avapritinib) to individuals afflicted with systemic mastocytosis (SM) in the United States and Europe. Furthermore, the company maintains an extensive pipeline of research and development programs addressing mast cell-mediated diseases like SM and chronic urticaria, as well as breast cancer and other solid tumors susceptible to CDK2 inhibition.
