Madrigal Pharmaceuticals Reports Inducement Grants under Nasdaq Listing Rule 5635(c)(4)
January 22 2024 - 8:00AM
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 109 new employees, in each case
with a grant date of January 16, 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 14,206 shares of Madrigal’s common stock, and in the
aggregate 32,788 time-based restricted stock units. All options
granted have an exercise price of $243.92 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
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
Madrigal Pharmaceuticals (NASDAQ:MDGL)
Historical Stock Chart
From May 2024 to Jun 2024
Madrigal Pharmaceuticals (NASDAQ:MDGL)
Historical Stock Chart
From Jun 2023 to Jun 2024