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

Madrigal Pharmaceuticals (NASDAQ:MDGL), a biopharmaceutical company focused on MASH therapeutics, announced equity inducement awards to 30 new non-executive employees under its 2025 Inducement Plan.

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Madrigal Pharmaceuticals (NASDAQ:MDGL), a biopharmaceutical company focused on MASH therapeutics, announced equity inducement awards to 30 new non-executive employees under its 2025 Inducement Plan. The awards include options to purchase 5,675 shares and 19,863 time-based restricted stock units.

The options were granted at exercise prices of $300.16 (July 1) and $311.14 (July 15) per share. Options vest 25% after one year, followed by 6.25% quarterly thereafter. Restricted stock units vest in four equal annual installments. All awards require continued employment for vesting.

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CONSHOHOCKEN, Pa., July 16, 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 July 1, 2025 and July 15, 2025 to a total of 30 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 5,675 shares of Madrigal’s common stock, and in the aggregate 19,863 time-based restricted stock units. Options granted on July 1, 2025 have an exercise price of $300.16 per share and options granted on July 15, 2025 have an exercise price of $311.14, which is equal to the closing price of the company’s common stock on the applicable 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 the FDA for the treatment of MASH with moderate to advanced fibrosis (consistent with stages F2 to F3). An ongoing Phase 3 outcomes trial is evaluating Rezdiffra for the treatment of compensated MASH cirrhosis (consistent with stage F4c). For more information, visit www.madrigalpharma.com.

Investor Contact
Tina Ventura, IR@madrigalpharma.com

Media Contact
Christopher Frates, media@madrigalpharma.com

FAQ

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What equity awards did Madrigal Pharmaceuticals (MDGL) grant to new employees in July 2025?

Madrigal granted options to purchase 5,675 shares and 19,863 restricted stock units to 30 new non-executive employees.

What is the vesting schedule for MDGL's July 2025 stock options?

The options vest 25% after the first year, followed by 6.25% quarterly thereafter, subject to continued employment.

What was the exercise price for Madrigal's July 2025 stock options?

The options were granted at $300.16 per share on July 1 and $311.14 per share on July 15, 2025.

How do the restricted stock units (RSUs) vest in Madrigal's July 2025 inducement awards?

The RSUs vest in four equal annual installments over four years, subject to continued employment.