Scholar Rock Reports New Employee Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
August 18 2023 - 4:15PM
Business Wire
Scholar Rock (NASDAQ: SRRK; “The Company”), a Phase 3,
clinical-stage biopharmaceutical company focused on the treatment
of serious diseases in which protein growth factors play a
fundamental role, today announced that the company granted
inducement equity awards covering an aggregate of 150,938 shares of
its common stock to 8 newly hired employees, consisting of
inducement stock options to purchase an aggregate of 86,250 shares
of common stock and inducement restricted stock units, (“RSUs”),
covering an aggregate of 64,688 shares of its common stock.
The awards are subject to all terms and conditions and other
provisions set forth in the Company’s 2022 Inducement Equity Plan
(“The Plan”) and the award agreements thereunder.
The Plan, which was adopted by the Company’s board of directors
on June 16, 2022, is used exclusively for the grant of equity
awards to individuals who were not previously employees of Scholar
Rock, or following a bona fide period of non-employment, as an
inducement material to such individuals entering into employment
with Scholar Rock, pursuant to Nasdaq Listing Rule 5635(c)(4).
The options have an exercise price of $7.12, which is equal to
the closing price of Scholar Rock’s common stock on August 14,
2023. The stock option award will vest with respect to 25% of the
shares of common stock underlying the award on the first
anniversary of each employee’s start date, and the remaining 75% of
the shares of common stock underlying the Stock Option Award will
vest in 12 equal quarterly installments thereafter. Vesting for
RSUs will be in four equal annual installments. All vesting related
to inducement awards is subject to the employees’ continuing
service at the Company through the applicable vesting date.
About Scholar Rock
Scholar Rock is a clinical-stage biopharmaceutical company
focused on the discovery and development of innovative medicines
for the treatment of serious diseases in which signaling by protein
growth factors plays a fundamental role. Scholar Rock is creating a
pipeline of novel product candidates with the potential to
transform the lives of patients suffering from a wide range of
serious diseases, including neuromuscular disorders, cancer, and
fibrosis. Scholar Rock’s approach to targeting the molecular
mechanisms of growth factor activation enabled it to develop a
proprietary platform for the discovery and development of
monoclonal antibodies that locally and selectively target these
signaling proteins at the cellular level. By developing product
candidates that act in the disease microenvironment, the Company
intends to avoid the historical challenges associated with
inhibiting growth factors for therapeutic effect. Scholar Rock
believes its focus on biologically validated growth factors may
facilitate a more efficient development path. For more information,
please visit www.ScholarRock.com or follow Scholar Rock on Twitter
(@ScholarRock) and LinkedIn
(https://www.linkedin.com/company/scholar-rock/).
Scholar Rock® is a registered trademark of Scholar Rock,
Inc.
Availability of Other Information About Scholar Rock
Investors and others should note that we communicate with our
investors and the public using our company website
www.scholarrock.com, including, but not limited to, company
disclosures, investor presentations and FAQs, Securities and
Exchange Commission filings, press releases, public conference call
transcripts and webcast transcripts, as well as on Twitter and
LinkedIn. The information that we post on our website or on Twitter
or LinkedIn could be deemed to be material information. As a
result, we encourage investors, the media and others interested to
review the information that we post there on a regular basis. The
contents of our website or social media shall not be deemed
incorporated by reference in any filing under the Securities Act of
1933, as amended.
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version on businesswire.com: https://www.businesswire.com/news/home/20230818634456/en/
Scholar Rock:
Investors and Media Rushmie Nofsinger Scholar Rock
rnofsinger@scholarrock.com ir@scholarrock.com media@scholarrock.com
857-259-5573
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