BRIDGEWATER, N.J., Aug. 2, 2024
/PRNewswire/ -- 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 97 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 August 1,
2024 to purchase an aggregate 133,130 shares of Insmed
common stock at an exercise price of $75.33 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 global biopharmaceutical company on a
mission to transform the lives of patients with serious and rare
diseases. Insmed's first commercial product is a first-in-disease
therapy approved in the United States, Europe,
and Japan to treat a chronic, debilitating lung disease.
The Company is progressing a robust pipeline of investigational
therapies targeting areas of serious unmet need, including
neutrophil-mediated inflammatory diseases and rare pulmonary
disorders. Insmed is also advancing an early-stage research engine
encompassing a wide range of technologies and modalities, including
artificial intelligence-driven protein engineering, gene therapy,
and protein manufacturing. Insmed is headquartered
in Bridgewater, New Jersey,
with additional offices and research locations throughout
the United States, Europe, and Japan. 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
View original content to download
multimedia:https://www.prnewswire.com/news-releases/insmed-reports-inducement-grants-under-nasdaq-listing-rule-5635c4-302213041.html
SOURCE Insmed Incorporated