CAMBRIDGE, Mass., June 3, 2020 /PRNewswire/ -- Blueprint
Medicines Corporation (NASDAQ: BPMC), a precision therapy company
focused on genomically defined cancers, rare diseases and cancer
immunotherapy, today announced that, effective on June 1, 2020, the Compensation Committee of
Blueprint Medicines' Board of Directors granted non-qualified stock
options to purchase an aggregate of 49,493 shares of its common
stock and an aggregate of 24,745 restricted stock units (RSUs) to
four new employees under Blueprint Medicines' 2020 Inducement
Plan.
The 2020 Inducement Plan is used exclusively for the grant of
equity awards to individuals who were not previously an employee or
non-employee director of Blueprint Medicines, as an inducement
material to such individual's entering into employment with
Blueprint Medicines, pursuant to Rule 5635(c)(4) of the NASDAQ
Listing Rules.
The options have an exercise price of $66.24 per share, which is equal to the closing
price of Blueprint Medicines' common stock on June 1, 2020. Each option will vest as to 25% of
the shares underlying such option on the first anniversary of the
grant date and as to an additional 1/48th of the shares underlying
the option monthly thereafter, in each case, subject to each
such employee's continued employment on each vesting date. Each RSU
will vest as to 25% of the shares underlying the RSU award on the
first anniversary of the grant date and as to an additional 25% of
the shares underlying the RSU award annually thereafter, subject to
each such employee's continued employment on each vesting date. The
options and RSUs are subject to the terms and conditions of
Blueprint Medicines' 2020 Inducement Plan, and the terms and
conditions of the stock option and RSU agreement covering the
grant.
About Blueprint Medicines
Blueprint Medicines is a precision therapy company striving
to improve human health. With a focus on genomically defined
cancers, rare diseases and cancer immunotherapy, we are developing
transformational medicines rooted in our leading expertise in
protein kinases, which are proven drivers of disease. Our uniquely
targeted, scalable approach empowers the rapid design and
development of new treatments and increases the likelihood of
clinical success. We have one FDA-approved precision therapy and
are currently advancing multiple investigational medicines in
clinical development, along with a number of research programs. For
more information, visit www.BlueprintMedicines.com and follow
us on Twitter (@BlueprintMeds) and LinkedIn.
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SOURCE Blueprint Medicines Corporation