Madrigal Pharmaceuticals Reports Inducement Grants under Nasdaq Listing Rule 5635(c)(4)
Madrigal Pharmaceuticals, Inc. (MDGL)
Last madrigal pharmaceuticals, inc. earnings: 2/26 06:50 am
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Source: GlobeNewswire
CONSHOHOCKEN, Pa., April 16, 2024 (GLOBE NEWSWIRE) -- Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL), a biopharmaceutical company pursuing novel therapeutics for nonalcoholic steatohepatitis (NASH), today announced that the company granted equity awards to 7 new employees, in each case with a grant date of April 15, 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 1,979 shares of Madrigal’s common stock, and in the aggregate 4,078 time-based restricted stock units. All options granted have an exercise price of $231.37 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 q
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