CONSHOHOCKEN, PA — Madrigal Pharmaceuticals Inc. (Nasdaq: MDGL) recently granted equity awards to five newly hired employees under its inducement plan, continuing the use of stock-based compensation to attract talent as the company expands following the launch of its liver disease treatment Rezdiffra.
The biopharmaceutical company said the awards, granted June 15, consist of an aggregate 1,397 time-based restricted stock units issued under the company’s 2025 Inducement Plan.
The awards were approved by Madrigal’s independent Compensation Committee in accordance with Nasdaq Listing Rule 5635(c)(4), which permits companies to grant equity awards to new employees outside shareholder-approved compensation plans as an inducement to employment.
The restricted stock units will vest in four equal installments on each of the first four anniversaries of the grant date, provided the employees remain with the company through the applicable vesting dates.
Madrigal, based in Conshohocken, is focused on treatments for metabolic dysfunction-associated steatohepatitis, or MASH, a chronic liver disease previously known as nonalcoholic steatohepatitis.
The company’s lead product, Rezdiffra (resmetirom), became the first therapy approved by both the U.S. Food and Drug Administration and the European Commission for treating MASH patients with moderate to advanced fibrosis. The company is also conducting a Phase 3 outcomes trial evaluating the drug in patients with compensated MASH cirrhosis.
Equity inducement awards are commonly used by biotechnology companies to recruit specialized talent and align employee compensation with long-term corporate performance.
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