Madrigal Pharmaceuticals Reports Inducement Grants under Nasdaq Listing Rule 5635(c)(4)
03 Abril 2024 - 5:05PM
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 30 new employees, in each case
with a grant date of April, 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
employees’ acceptance of employment with the company. The new
employees received, in the aggregate, options to purchase 1,813
shares of Madrigal’s common stock, and in the aggregate 12,709
time-based restricted stock units. All options granted have an
exercise price of $255.74 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 restricted stock units granted vest in a 25%
increment on each of the first through fourth anniversaries of the
grant date. 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
biopharmaceutical company pursuing novel therapeutics for
nonalcoholic steatohepatitis (NASH), a liver disease with high
unmet medical need. Madrigal’s medication, Rezdiffra (resmetirom),
is a once-daily, oral, liver-directed THR-β agonist designed to
target key underlying causes of NASH. For more information, visit
www.madrigalpharma.com.
Investor Contact Tina Ventura, Madrigal
Pharmaceuticals, Inc., IR@madrigalpharma.com
Media ContactChristopher Frates, Madrigal
Pharmaceuticals, Inc., media@madrigalpharma.com
Madrigal Pharmaceuticals (NASDAQ:MDGL)
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