Scholar Rock Reports New Employee Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
February 16 2024 - 4:15PM
Business Wire
Scholar Rock (NASDAQ: SRRK; “The Company”), a late-stage
biopharmaceutical company focused on advancing innovative
treatments for spinal muscular atrophy (SMA), cardiometabolic
disorders, and other serious diseases where protein growth factors
play a fundamental role, today announced that the company granted
inducement equity awards covering an aggregate of 131,688 shares of
its common stock to four newly hired employees, consisting of
inducement stock options to purchase an aggregate of 75,250 shares
of common stock and inducement restricted stock units (“RSUs”),
covering an aggregate of 56,438 shares of its common stock.
The awards are subject to all terms and conditions and other
provisions set forth in the Company’s 2022 Inducement Equity Plan
(“The Plan”) and the award agreements thereunder.
The Plan, which was adopted by the Company’s board of directors
on June 16, 2022, is used exclusively for the grant of equity
awards to individuals who were not previously employees of Scholar
Rock, or following a bona fide period of non-employment, as an
inducement material to such individuals entering into employment
with Scholar Rock, pursuant to Nasdaq Listing Rule 5635(c)(4).
The options have an exercise price of $15.75, which is equal to
the closing price of Scholar Rock’s common stock on February 12,
2024. The stock option award will vest with respect to 25% of the
shares of common stock underlying the award on the first
anniversary of each employee’s start date, and the remaining 75% of
the shares of common stock underlying the Stock Option Award will
vest in 12 equal quarterly installments thereafter. Vesting for
RSUs will be in four equal annual installments. All vesting related
to inducement awards is subject to the employees’ continuing
service at the Company through the applicable vesting date.
About Scholar Rock
Scholar Rock is a biopharmaceutical company that discovers,
develops, and delivers life-changing therapies for people with
serious diseases that have high unmet need. As a global leader in
the biology of the transforming growth factor beta (TGFβ)
superfamily of cell proteins and named for the visual resemblance
of a scholar rock to protein structures, the clinical-stage company
is focused on advancing innovative treatments where protein growth
factors are fundamental. Over the past decade, Scholar Rock has
created a pipeline with the potential to advance the standard of
care for neuromuscular disease, cardiometabolic disorders, cancer,
and other conditions where growth factor-targeted drugs can play a
transformational role.
Scholar Rock is the only company to show clinical
proof-of-concept for a muscle-targeted treatment in spinal muscular
atrophy (SMA). This commitment to unlocking fundamentally different
therapeutic approaches is powered by broad application of a
proprietary platform, which has developed novel monoclonal
antibodies to modulate protein growth factors with extraordinary
selectivity. By harnessing cutting-edge science in disease spaces
that are historically under-addressed through traditional
therapies, Scholar Rock works every day to create new possibilities
for patients. Learn more about our approach at ScholarRock.com and
follow @ScholarRock and on LinkedIn.
Scholar Rock® is a registered trademark of Scholar Rock,
Inc.
Availability of Other Information About Scholar Rock
Investors and others should note that we communicate with our
investors and the public using our company website
www.scholarrock.com, including, but not limited to, company
disclosures, investor presentations and FAQs, Securities and
Exchange Commission filings, press releases, public conference call
transcripts and webcast transcripts, as well as on Twitter and
LinkedIn. The information that we post on our website or on Twitter
or LinkedIn could be deemed to be material information. As a
result, we encourage investors, the media and others interested to
review the information that we post there on a regular basis. The
contents of our website or social media shall not be deemed
incorporated by reference in any filing under the Securities Act of
1933, as amended.
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version on businesswire.com: https://www.businesswire.com/news/home/20240216694867/en/
Scholar Rock: Investors Rushmie Nofsinger Scholar Rock
rnofsinger@scholarrock.com ir@scholarrock.com 857-259-5573 Media
Molly MacLeod Scholar Rock mmacleod@scholarrock.com
media@scholarrock.com 802-579-5995
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