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

Madrigal Pharmaceuticals (MDGL) granted equity inducement awards to 27 new non-executive employees on September 1 and 14, 2026 under its 2025 Inducement Plan.

Rhea-AI Summary

Madrigal Pharmaceuticals (MDGL) granted equity inducement awards to 27 new non-executive employees on September 1 and 14, 2026 under its 2025 Inducement Plan.

The awards, approved by the independent Compensation Committee under Nasdaq Rule 5635(c)(4), comprise options to purchase a total of 2,754 shares at an exercise price of $538.71 per share and 16,149 time-based restricted stock units. Options vest 25% after one year and 6.25% quarterly thereafter, while RSUs vest in four equal annual installments, subject to continued employment.

Market Context

On Aug 20, a comparable inducement-award notice was followed by -0.45%; the current notice likewise ...

Analysis

On Aug 20, a comparable inducement-award notice was followed by -0.45%; the current notice likewise concerned employee equity grants under the same plan, with different award terms.

Key Figures

Recipients: 27 new non-executive employees Stock options: 2,754 shares Restricted stock units: 16,149 units +4 more

Recipients

27 new non-executive employees

September 2026 inducement awards

Stock options

2,754 shares

Aggregate inducement awards

Restricted stock units

16,149 units

Aggregate time-based awards

Exercise price

$538.71 per share

Options granted September 1, 2026

Initial option vesting

25%

On the first anniversary of the grant date

Subsequent option vesting

6.25%

On each quarterly anniversary after the first anniversary

RSU vesting

Four equal installments

On each of the first through fourth anniversaries

Historical Context

2 past events · Latest: Aug 20

2 events

1. Aug 20

   Inducement awards

   24h Move

   -0.5%

   Equity inducement awards granted to 13 new non-executive employees

2. Aug 06

   Inducement awards

   24h Move

   -0.1%

   Equity inducement awards granted to ten new non-executive employees

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

restricted stock units, nasdaq listing rule 5635(c)(4)

2 terms

restricted stock units financial

"16,149 time-based restricted stock units"

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

nasdaq listing rule 5635(c)(4) regulatory

"in accordance with Nasdaq Listing Rule 5635(c)(4)"

NASDAQ Listing Rule 5635(c)(4) is a rule that requires a company to get approval from its shareholders before selling a large amount of its shares, usually over 20%. This helps protect investors by making sure the company doesn't flood the market with new shares without their say, which could lower the stock's value.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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CONSHOHOCKEN, Pa., Sept. 16, 2026 (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 September 1, 2026 and September 14, 2026 to a total of 27 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 an inducement material to employees’ acceptance of employment with the company. The new employees received, in the aggregate, options to purchase 2,754 shares of Madrigal’s common stock, and in the aggregate 16,149 time-based restricted stock units. All options were granted on September 1, 2026 and have an exercise price of $538.71 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 was the first 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