CONSHOHOCKEN, PA — Madrigal Pharmaceuticals Inc. (Nasdaq: MDGL) granted stock options and restricted stock units to 27 newly hired non-executive employees in September, using equity incentives to support hiring as the biopharmaceutical company develops and commercializes treatments for metabolic dysfunction-associated steatohepatitis.
The awards, granted Sept. 1 and Sept. 14 under Madrigal’s 2025 Inducement Plan, included options to purchase an aggregate 2,754 common shares and 16,149 time-based restricted stock units.
Madrigal’s independent Compensation Committee approved the awards as employment inducements under Nasdaq Listing Rule 5635(c)(4), which permits equity grants to new employees under specified conditions without shareholder approval.
All of the options were granted Sept. 1 with an exercise price of $538.71 per share, equal to Madrigal’s closing share price that day.
Twenty-five percent of the option shares vest on the first anniversary of the grant date, followed by 6.25% on each quarterly anniversary. The restricted stock units vest in four equal installments on the first four anniversaries of their respective grant dates.
Vesting for both types of awards is contingent on continued employment through the applicable vesting dates.
Madrigal focuses on treatments for metabolic dysfunction-associated steatohepatitis, or MASH. Its Rezdiffra, or resmetirom, is a once-daily oral therapy approved by the U.S. Food and Drug Administration and European Commission for MASH with moderate to advanced fibrosis.
The company is also evaluating Rezdiffra in an ongoing Phase 3 outcomes trial for patients with compensated MASH cirrhosis.
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