CONSHOHOCKEN, PA — Madrigal Pharmaceuticals Inc. (Nasdaq: MDGL) recently granted equity awards to 20 new non-executive employees on April 1 under its 2025 Inducement Plan, as part of hiring incentives.
The company awarded a total of 8,079 time-based restricted stock units, which will vest in four equal installments on the first through fourth anniversaries of the grant date, subject to continued employment.
The awards were approved by Madrigal’s independent Compensation Committee in accordance with Nasdaq Listing Rule 5635(c)(4), which allows companies to issue equity as an inducement for new hires.
Madrigal said the grants were provided as a material incentive for employees to accept positions with the company.
Madrigal Pharmaceuticals focuses on developing treatments for metabolic dysfunction-associated steatohepatitis, a liver disease with limited treatment options.
The company’s lead product, Rezdiffra (resmetirom), is a once-daily oral therapy approved by the U.S. Food and Drug Administration and the European Commission for patients with moderate to advanced fibrosis.
A Phase 3 clinical trial is ongoing to evaluate the drug for use in patients with compensated MASH cirrhosis.
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