CONSHOHOCKEN, PA — Madrigal Pharmaceuticals (NASDAQ: MDGL) granted equity awards to 20 newly hired employees under its inducement compensation plan, a move tied to ongoing workforce expansion as the company commercializes its liver disease treatment and advances additional clinical development programs.
The biopharmaceutical company disclosed that its independent Compensation Committee approved the awards on June 1 under the terms of Madrigal’s 2025 Inducement Plan and in accordance with Nasdaq Listing Rule 5635(c)(4).
The grants consisted of an aggregate 6,881 time-based restricted stock units awarded to non-executive employees. The company stated the awards were provided as a material inducement for the employees to join Madrigal.
Under the terms of the awards, the restricted stock units vest in four equal installments on each of the first four anniversaries of the grant date, subject to continued employment.
Inducement awards are commonly used by publicly traded biotechnology and pharmaceutical companies to attract talent without seeking shareholder approval for each grant, provided the awards comply with Nasdaq listing requirements.
Madrigal is commercializing Rezdiffra (resmetirom), a treatment for metabolic dysfunction-associated steatohepatitis, or MASH. The drug was the first therapy approved by both the U.S. Food and Drug Administration and the European Commission for patients with MASH and moderate-to-advanced fibrosis.
The company is also conducting a Phase 3 outcomes trial evaluating Rezdiffra in patients with compensated MASH cirrhosis.
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