Flexion Therapeutics Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
Flexion Therapeutics, Inc. (Nasdaq:FLXN) today announced equity
inducement grants to 13 new employees consisting of an aggregate of
80,550 stock options and 13,425 restricted stock units. The
Compensation Committee of the Board of Directors approved the
grants with an effective date of October 1, 2019. The stock options
and restricted stock units were granted as inducements material to
the employees entering into employment with the Company in
accordance with Nasdaq Listing Rule 5635(c)(4).
The stock options have an exercise price of $13.47 per share and
vest over four years, with 25% of the shares vesting on the
one-year anniversary of the applicable vesting commencement date
and 1/48 of the shares vesting monthly thereafter, subject to the
new employee's continued service relationship with the Company.
The restricted stock units vest over four years, with 25% of the
shares vesting on each annual anniversary of the applicable vesting
commencement date, subject to the new employee’s continued service
relationship with the Company.
The stock options and restricted stock units are subject to the
terms and conditions of the Company's 2013 Equity Incentive Plan
and a stock option or restricted stock unit agreement, as
applicable, covering the grant.
About Flexion Therapeutics Flexion Therapeutics
(Nasdaq:FLXN) is a biopharmaceutical company focused on the
development and commercialization of novel, local therapies for the
treatment of patients with musculoskeletal conditions, beginning
with osteoarthritis, a type of degenerative arthritis. The
company's core values are focus, ingenuity, tenacity, transparency
and fun. For the past three years, Flexion has been named one of
the Best Places to Work by the Boston Business Journal, and
Flexion was also recognized as a Top Place to Work in Massachusetts
by The Boston Globe in 2017 and 2018.
Contact:Scott YoungVice President, Corporate
Communications & Investor RelationsFlexion Therapeutics, Inc.T: