BRIDGEWATER, N.J., Nov. 6, 2020 /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 10 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 November 2,
2020 to purchase an aggregate 50,660 shares of Insmed common
stock at an exercise price of $31.45
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 a first-in-disease
therapy approved in the United
States and the European Union to treat a chronic,
debilitating lung disease. The Company is also progressing a robust
pipeline of investigational therapies targeting areas of serious
unmet need, including neutrophil-mediated inflammatory diseases and
rare pulmonary disorders. Insmed is headquartered in Bridgewater, New Jersey, with a growing
footprint across Europe and in
Japan. For more information, visit
www.insmed.com.
Contact:
Investors:
Argot Partners
Laura Perry or Heather Savelle
(212) 600-1902
insmed@argotpartners.com
Media:
Mandy Fahey
Senior Director, Corporate Communications
Insmed
(732) 718-3621
amanda.fahey@insmed.com
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SOURCE Insmed Incorporated