CONSHOHOCKEN, PA — Madrigal Pharmaceuticals (NASDAQ: MDGL) has awarded equity inducement grants to 40 newly hired, non-executive employees, signaling continued workforce expansion as the company advances its approved liver disease therapy and late-stage pipeline.
The company said the equity awards were granted January 15 under Madrigal’s 2025 Inducement Plan and approved by its independent Compensation Committee in accordance with Nasdaq Listing Rule 5635(c)(4), which permits equity incentives for new hires outside of shareholder-approved plans.
In aggregate, the new employees received options to purchase 3,049 shares of Madrigal common stock and 13,145 time-based restricted stock units. The stock options carry an exercise price of $495.88 per share, equal to the company’s closing share price on the grant date.
Under the terms of the awards, 25% of the option shares will vest on the first anniversary of the grant date, with the remaining shares vesting in equal quarterly installments thereafter. The restricted stock units will vest in four equal annual installments over four years. All vesting is contingent on continued employment at each applicable vesting date.
The inducement grants come as Madrigal continues to scale operations around Rezdiffra, its once-daily oral therapy for metabolic dysfunction-associated steatohepatitis, or MASH, a serious liver disease with significant unmet medical need.
Rezdiffra, also known as resmetirom, is the first and only medication approved by both the U.S. Food and Drug Administration and the European Commission for the treatment of MASH with moderate to advanced fibrosis. The company is also conducting a Phase 3 outcomes trial evaluating the drug in patients with compensated MASH cirrhosis.
The equity awards reflect Madrigal’s strategy of using stock-based incentives to attract and retain talent as it builds out commercial capabilities and advances clinical development, aligning employee compensation with long-term shareholder value creation.
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