CONSHOHOCKEN, PA — Madrigal Pharmaceuticals Inc. (Nasdaq: MDGL) granted 4,263 restricted stock units to 10 newly hired non-executive employees on Aug. 1, using equity compensation as an employment inducement as the biopharmaceutical company advances its MASH drug business.
The awards were issued under Madrigal’s 2025 Inducement Plan and approved by the company’s independent Compensation Committee in accordance with Nasdaq Listing Rule 5635(c)(4).
Madrigal characterized the grants as material inducements for the employees to accept positions with the company. The 4,263 restricted stock units represent the aggregate award across all 10 hires.
The units will vest in four equal installments on the first four anniversaries of the Aug. 1 grant date. Each employee must remain employed by Madrigal on the applicable vesting date to receive that portion of the award.
The equity grants come as Madrigal focuses on the commercialization and continued clinical development of Rezdiffra, or resmetirom, its treatment for metabolic dysfunction-associated steatohepatitis, known as MASH.
Rezdiffra has received approval from both the U.S. Food and Drug Administration and European Commission for MASH with moderate to advanced fibrosis, or stages F2 to F3. Madrigal is also evaluating the drug in a Phase 3 outcomes trial involving patients with compensated MASH cirrhosis, or F4c.
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