CONSHOHOCKEN, PA — Madrigal Pharmaceuticals (NASDAQ: MDGL) granted equity awards to seven newly hired non-executive employees under its inducement plan, using stock-based compensation to support recruitment as the biotechnology company continues to expand its workforce.
The awards, granted July 1 under the company’s 2025 Inducement Plan, were approved by Madrigal’s independent Compensation Committee in accordance with Nasdaq Listing Rule 5635(c)(4), the company said.
In total, the new employees received options to purchase 604 shares of Madrigal common stock and 2,952 time-based restricted stock units as inducements to join the company.
The stock options carry an exercise price of $514.39 per share, matching Madrigal’s closing stock price on the July 1 grant date.
Twenty-five percent of the option shares will vest on the first anniversary of the grant date, with the remaining shares vesting in quarterly installments of 6.25% thereafter. The restricted stock units will vest in four equal annual installments over four years.
All awards remain subject to the employees’ continued employment on the applicable vesting dates.
Madrigal develops treatments for metabolic dysfunction-associated steatohepatitis, or MASH. Its lead product, Rezdiffra, is approved in the United States and the European Union for treating MASH with moderate to advanced fibrosis, while the company continues a Phase 3 trial evaluating the therapy in patients with compensated MASH cirrhosis.
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