Insmed Reports Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)
08 Juin 2017 - 2:00PM
Insmed Incorporated (Nasdaq:INSM), a global biopharmaceutical
company focused on the unmet needs of patients with rare diseases,
today announced the granting of inducement awards to Paolo Tombesi,
Chief Financial Officer, and Paul Streck, M.D., Chief Medical
Officer. 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 executive’s entry into
employment with the Company.
In connection with the appointment of Mr. Tombesi as Chief
Financial Officer on June 1, 2017, Mr. Tombesi received an option
to purchase 127,160 shares of Insmed common stock at an exercise
price of $15.60 per share, the closing trading price on the Nasdaq
Global Select Market on the date of grant. Also, in
connection with the appointment of Dr. Streck as Chief Medical
Officer, on June 5, 2017, Dr. Streck received an option to purchase
109,210 shares of Insmed common stock at an exercise price of
$15.38 per share, the closing trading price on the date of
grant.
The agreements governing these options are consistent with
Insmed's standard stock option inducement award agreement. 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 executive's continued service with the Company on the
applicable vesting date.
About Insmed
Insmed Incorporated is a global biopharmaceutical company
focused on the unmet needs of patients with rare diseases. The
company is advancing a global phase 3 clinical study of ARIKAYCE®
(liposomal amikacin for inhalation) for adult patients with
treatment refractory nontuberculous mycobacteria (NTM) lung disease
caused by Mycobacterium avium complex (MAC), which is a rare and
often chronic infection that is capable of causing irreversible
lung damage and can be fatal. There are currently no approved
inhaled products specifically indicated for the treatment of
refractory NTM lung disease caused by MAC in the United States or
the European Union. Insmed's earlier-stage clinical pipeline
includes INS1007, a novel oral reversible inhibitor of DPP1 with
therapeutic potential in non-cystic fibrosis bronchiectasis, and
INS1009, an inhaled nanoparticle 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.
"Insmed" and "ARIKAYCE" are the company's trademarks. All other
trademarks, trade names or service marks appearing in this press
release are the property of their respective owners.
Investor Contact:
Laura Perry or Heather Savelle
Argot Partners
212.600.1902
laura@argotpartners.com
heather@argotpartners.com
Insmed (NASDAQ:INSM)
Graphique Historique de l'Action
De Sept 2024 à Oct 2024
Insmed (NASDAQ:INSM)
Graphique Historique de l'Action
De Oct 2023 à Oct 2024