Full Press Release Details
BRIDGEWATER, N.J. , Sept. 6, 2024 /PRNewswire/ -- Insmed Incorporated (Nasdaq: INSM ), a people-first global biopharmaceutical company striving to deliver first- and best-in-class therapies to transform the lives of patients facing serious diseases, today announced the granting of inducement awards to 60 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 September 3, 2024 to purchase an aggregate 137,140 shares of Insmed common stock at an exercise price of $73.31 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.
Insmed Incorporated is a people-first global biopharmaceutical company striving to deliver first- and best-in-class therapies to transform the lives of patients facing serious diseases. The Company is advancing a diverse portfolio of approved and mid- to late-stage investigational medicines as well as cutting-edge drug discovery focused on serving patient communities where the need is greatest. Insmed's most advanced programs are in pulmonary and inflammatory conditions, including a therapy approved in the United States , Europe , and Japan to treat a chronic, debilitating lung disease. The Company's early-stage research programs encompass a wide range of technologies and modalities, including gene therapy, AI-driven protein engineering, protein manufacturing, RNA end-joining, and synthetic rescue.
Headquartered in Bridgewater, New Jersey , Insmed has offices and research locations throughout the United States , Europe , and Japan . Insmed is proud to be recognized as one of the best employers in the biopharmaceutical industry, including spending three consecutive years as the No. 1 Science Top Employer. Visit www.insmed.com to learn more.
Bryan Dunn Executive Director, Investor Relations Insmed (646) 812-4030 [email protected]
Mandy Fahey Vice President, Corporate Communications Insmed (732) 718-3621 [email protected]
SOURCE Insmed Incorporated