CONSHOHOCKEN, PA — Madrigal Pharmaceuticals (NASDAQ: MDGL) granted stock options and restricted stock units to 10 newly hired employees under its inducement equity plan, using stock-based compensation to support recruitment as the company continues commercial and clinical development of its liver disease therapies.
The awards were approved July 15 by the company’s independent Compensation Committee under Nasdaq Listing Rule 5635(c)(4), which permits inducement grants to new employees outside shareholder-approved equity plans.
The employees received options to purchase a combined 4,770 shares of Madrigal common stock, along with 7,433 time-based restricted stock units and 1,908 performance-based restricted stock units.
The stock options carry an exercise price of $550.25 per share, matching Madrigal’s closing stock price on the grant date.
The options vest over five years, with 25% vesting after one year and the remaining shares vesting in quarterly installments thereafter, subject to continued employment.
The time-based restricted stock units vest in four equal annual installments. Performance-based restricted stock units will be earned based on Madrigal’s total shareholder return relative to a defined peer group over a three-year period and, if earned, will vest in the first quarter of 2029.
The grants were made under the company’s 2025 Inducement Plan and are intended as material incentives for employees accepting positions with the company, Madrigal stated.
Madrigal is focused on treatments for metabolic dysfunction-associated steatohepatitis, or MASH. Its lead product, Rezdiffra (resmetirom), is approved in the United States and Europe for adults with MASH and moderate-to-advanced liver fibrosis, while a Phase 3 trial is evaluating the therapy in patients with compensated MASH cirrhosis.
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