On February 7, 2023 Blueprint Medicines Corporation (Nasdaq: BPMC), a precision therapy company focused on genomically defined cancers, rare diseases and cancer immunotherapy, reported that, effective February 1, 2023, the Compensation Committee of Blueprint Medicines’ Board of Directors granted non-qualified stock options to purchase an aggregate of 36,260 shares of its common stock and an aggregate of 18,119 restricted stock units (RSUs) to 24 new employees under Blueprint Medicines’ 2020 Inducement Plan (Press release, Blueprint Medicines, FEB 7, 2023, View Source [SID1234626933]).

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The 2020 Inducement Plan is used exclusively for the grant of equity awards to individuals who were not previously an employee or non-employee director of Blueprint Medicines, as an inducement material to such individual’s entering into employment with Blueprint Medicines, pursuant to Rule 5635(c)(4) of the Nasdaq Listing Rules.

The options have an exercise price of $46.05 per share, which is equal to the closing price of Blueprint Medicines’ common stock on February 1, 2023. Each option will vest as to 25% of the shares underlying such option on the first anniversary of the grant date and as to an additional 1/48th of the shares underlying the option monthly thereafter, in each case, subject to each such employee’s continued employment on each vesting date. Each RSU will vest as to 25% of the shares underlying the RSU award on the first anniversary of the grant date and as to an additional 25% of the shares underlying the RSU award annually thereafter, subject to each such employee’s continued employment on each vesting date. The options and RSUs are subject to the terms and conditions of Blueprint Medicines’ 2020 Inducement Plan, and the terms and conditions of the stock option and RSU agreement covering the grant.