Madrigal Pharmaceuticals Announces Grants of Inducement Awards under Nasdaq Listing Rule 5635(c)(4)

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Madrigal Pharmaceuticals (NASDAQ:MDGL) announced inducement equity awards granted on October 15, 2025 to 19 new non-executive employees under its 2025 Inducement Plan and Nasdaq Listing Rule 5635(c)(4).

The grants aggregate to 889 stock options with an exercise price of $433.45 (equal to the closing price on the grant date) and 8,581 time-based restricted stock units (RSUs). Option vesting: 25% of option shares vest on the first anniversary, then 6.25% each quarterly anniversary thereafter. RSUs vest in four equal annual installments on each of the first through fourth anniversaries. All vesting is subject to continued employment.

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On the day this news was published, MDGL declined 3.27%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

CONSHOHOCKEN, Pa., Oct. 21, 2025 (GLOBE NEWSWIRE) -- Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL), a biopharmaceutical company focused on delivering novel therapeutics for metabolic dysfunction-associated steatohepatitis (MASH), today announced that it granted equity awards on October 15, 2025 to 19 new non-executive employees as equity inducement awards under the terms of Madrigal’s 2025 Inducement Plan. The equity awards were approved by Madrigal’s independent Compensation Committee in accordance with Nasdaq Listing Rule 5635(c)(4).

The equity awards were granted as inducement material to employees’ acceptance of employment with the company. The new employees received, in the aggregate, options to purchase 889 shares of Madrigal’s common stock, and in the aggregate 8,581 time-based restricted stock units. Options have an exercise price of $433.45 per share, which is equal to the closing price of the company’s common stock on the grant date. Options vest as follows: (i) 25% of the option shares will vest on the first anniversary of the grant date and (ii) 6.25% of the option shares will vest on each quarterly anniversary following the first anniversary of the grant date. All restricted stock units granted vest in four equal installments on each of the first through fourth anniversaries of the grant date. The vesting of all awards described above shall be subject to each such employee’s continued employment as of the applicable vesting date.

About Madrigal Pharmaceuticals

Madrigal Pharmaceuticals, Inc. (Nasdaq: MDGL) is a biopharmaceutical company focused on delivering novel therapeutics for metabolic dysfunction-associated steatohepatitis (MASH), a liver disease with high unmet medical need. Madrigal’s medication, Rezdiffra (resmetirom), is a once-daily, oral, liver-directed THR-β agonist designed to target key underlying causes of MASH. Rezdiffra is the first and only medication approved by both the FDA and European Commission for the treatment of MASH with moderate to advanced fibrosis (F2 to F3). An ongoing Phase 3 outcomes trial is evaluating Rezdiffra for the treatment of compensated MASH cirrhosis (F4c). For more information, visit www.madrigalpharma.com.

Investor Contact
Tina Ventura, IR@madrigalpharma.com

Media Contact
Christopher Frates, media@madrigalpharma.com

FAQ

What did Madrigal (MDGL) grant on October 15, 2025?

Madrigal granted inducement awards to 19 new employees totaling 889 options and 8,581 RSUs on October 15, 2025.

What is the exercise price of the MDGL options granted October 15, 2025?

The options have an exercise price of $433.45 per share, equal to the closing price on the grant date.

How do the MDGL options vest for the October 15, 2025 grants?

Options vest 25% on the first anniversary, then 6.25% each quarter after the first anniversary, subject to continued employment.

What is the vesting schedule for the MDGL restricted stock units granted October 15, 2025?

All RSUs vest in four equal installments on each of the first through fourth anniversaries of the grant date, subject to continued employment.

Under what Nasdaq rule were the MDGL inducement awards approved?

The awards were approved under Nasdaq Listing Rule 5635(c)(4) by Madrigal’s independent Compensation Committee.