CONSHOHOCKEN, PA — Madrigal Pharmaceuticals Inc. (NASDAQ: MDGL) granted 9,642 restricted stock units to 26 newly hired non-executive employees in October, using equity compensation to support recruitment as the biotechnology company develops and commercializes treatments for metabolic dysfunction-associated steatohepatitis, or MASH.
The awards were issued October 1 and October 14 under Madrigal’s 2025 Inducement Plan, according to the company.
Madrigal’s independent Compensation Committee approved the grants under Nasdaq Listing Rule 5635(c)(4), which permits equity awards to new employees as a material inducement to accepting employment.
The restricted stock units are time-based and will vest in four equal annual installments on the first through fourth anniversaries of their respective grant dates. Vesting is contingent on each employee remaining with the company through the applicable date.
The grants represent an aggregate award of 9,642 units across the 26 employees, rather than an equal allocation to each recipient.
Madrigal develops therapies for MASH, a liver disease associated with inflammation and scarring. Its lead medication, Rezdiffra (resmetirom), is a once-daily oral treatment designed to target underlying mechanisms of the disease.
Rezdiffra was the first medication approved by both the U.S. Food and Drug Administration and the European Commission for treating MASH with moderate to advanced liver fibrosis, classified as stages F2 to F3.
The company is also conducting a Phase 3 outcomes trial evaluating Rezdiffra in patients with compensated MASH cirrhosis, classified as F4c.
The October equity grants provide compensation that vests over four years, tying employees’ ability to receive the full awards to continued employment at Madrigal.
Support the local news that supports Chester County. MyChesCo delivers reliable, fact-based reporting and essential community resources—free for everyone. If you value that, click here to become a patron today.