Insmed Reports Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)
December 04 2018 - 8:30AM
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 two 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 December 3, 2018 to purchase an
aggregate 58,990 shares of Insmed common stock at an exercise price
of $18.70 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 is ARIKAYCE® (amikacin
liposome inhalation suspension), which is approved in the United
States for the treatment of 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 rare and often chronic infection that can
cause irreversible lung damage and can be fatal. Insmed's
earlier-stage clinical pipeline includes INS1007, a novel oral
reversible inhibitor of dipeptidyl peptidase 1 with therapeutic
potential in non-cystic fibrosis bronchiectasis and other
inflammatory diseases, and INS1009, 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:Blaine Davis Vice President, Head of
Investor Relations Insmed Incorporated (908) 947-2841
blaine.davis@insmed.com
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