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Flexion Therapeutics Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
BURLINGTON, Mass., June 01, 2018 (GLOBE NEWSWIRE) -- Flexion Therapeutics, Inc. (Nasdaq:FLXN) today announced a grant of inducement stock options to eight new employees for an aggregate of 50,000 shares of common stock. The Compensation Committee of the Board of Directors approved the grants with an effective date of June 1, 2018. The stock options have an exercise price of $27.01 per share and were granted as inducements material to the employees entering into employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4).
The stock options vest over four years, with 25% of the shares vesting on the one-year anniversary of the applicable vesting commencement date and 1/48 of the shares vesting monthly thereafter, subject to the new employee's continued service relationship with the Company. The stock options are subject to the terms and conditions of the Company's 2013 Equity Incentive Plan and a stock option agreement pursuant to which the stock option was granted.
About Flexion Therapeutics
Flexion Therapeutics (Nasdaq:FLXN) is a biopharmaceutical company focused on the development and commercialization of novel, local therapies for the treatment of patients with musculoskeletal conditions, beginning with osteoarthritis, a type of degenerative arthritis. The company's core values are focus, ingenuity, tenacity, transparency and fun. For the past two years, Flexion has been named one of the Best Places to Work by the Boston Business Journal, and Flexion was also recognized as a Top Place to Work in Massachusetts by The Boston Globe in 2017.
Vice President, Corporate Communications & Investor Relations
Flexion Therapeutics, Inc.