Madrigal Pharmaceuticals Reports Inducement Grants under Nasdaq Listing Rule 5635(c)(4)
2024年2月7日 - 6:05AM
Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL), a clinical-stage
biopharmaceutical company pursuing novel therapeutics for
nonalcoholic steatohepatitis (NASH), today announced that the
company granted equity awards to seven new employees, in each case
with a grant date of February 1, 2024, as equity inducement awards
under the terms of the company's 2023 Inducement Plan. The equity
awards were approved in accordance with Nasdaq Listing Rule
5635(c)(4).
The equity awards were granted as inducement material to the
employees’ acceptance of employment with the company. The new
employees received, in the aggregate, options to purchase 24,538
shares of Madrigal’s common stock, and in the aggregate 17,418
time-based restricted stock units and 8,025 market-based
performance stock units (“MSUs”). All options granted have an
exercise price of $222.23 per share, and vest as follows (i) 25% of
the option shares will vest on the first anniversary of the date of
grant and (ii) 6.25% of the option shares shall vest on each
quarterly anniversary following the first anniversary of the date
of grant. All time-based restricted stock units granted vest in a
25% increment on each of the first through fourth anniversaries of
the grant date. All MSUs granted vest upon certification concerning
the Madrigal’s stock price performance measured against
biotechnology stock index companies for the entire performance
period ending December 31, 2026. The vesting of all awards
described above shall be subject to each such employee’s continued
employment as of the vesting date.
About Madrigal Pharmaceuticals
Madrigal Pharmaceuticals, Inc. (Nasdaq: MDGL) is a
clinical-stage biopharmaceutical company pursuing novel
therapeutics for nonalcoholic steatohepatitis (NASH), a liver
disease with high unmet medical need. Madrigal’s lead candidate,
resmetirom, is a liver-directed THR-β agonist oral therapy that is
designed to target key underlying causes of NASH. For more
information, visit www.madrigalpharma.com.
Investor Contact Alex Howarth, Madrigal
Pharmaceuticals, Inc., IR@madrigalpharma.com
Media ContactChristopher Frates, Madrigal
Pharmaceuticals, Inc., media@madrigalpharma.com
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