Scholar Rock Reports New Employee Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
November 15 2024 - 4:15PM
Business Wire
Scholar Rock (NASDAQ: SRRK; the “Company”), a late-stage
biopharmaceutical company focused on advancing innovative
treatments for spinal muscular atrophy, cardiometabolic disorders,
and other serious diseases where protein growth factors play a
fundamental role, today announced that the company granted
inducement equity awards covering an aggregate of 100,500 shares of
its common stock to four newly hired employees, consisting of
inducement stock options to purchase an aggregate of 57,429 shares
of common stock and inducement restricted stock units, covering an
aggregate of 43,071 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, initially adopted by the Company’s board of directors
on June 16, 2022, and as amended from time to time, 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 inducement stock options have an exercise price of $28.15,
which is equal to the closing price of Scholar Rock’s common stock
on November 11, 2024. The inducement stock options 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
inducement stock options will vest in 12 equal quarterly
installments thereafter. Vesting for the inducement restricted
stock units 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 biopharmaceutical company that discovers,
develops, and delivers life-changing therapies for people with
serious diseases that have high unmet need. As a global leader in
the biology of the transforming growth factor beta (TGFβ)
superfamily of cell proteins and named for the visual resemblance
of a scholar rock to protein structures, the clinical-stage company
is focused on advancing innovative treatments where protein growth
factors are fundamental. Over the past decade, Scholar Rock has
created a pipeline with the potential to advance the standard of
care for neuromuscular disease, cardiometabolic disorders, cancer,
and other conditions where growth factor-targeted drugs can play a
transformational role.
Scholar Rock is the only company to show clinical
proof-of-concept for a muscle-targeted treatment in spinal muscular
atrophy (SMA). This commitment to unlocking fundamentally different
therapeutic approaches is powered by broad application of a
proprietary platform, which has developed novel monoclonal
antibodies to modulate protein growth factors with extraordinary
selectivity. By harnessing cutting-edge science in disease spaces
that are historically under-addressed through traditional
therapies, Scholar Rock works every day to create new possibilities
for patients. Learn more about our approach at ScholarRock.com and
follow @ScholarRock and on LinkedIn.
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/20241115276975/en/
Scholar Rock: Investors Rushmie Nofsinger Scholar Rock
rnofsinger@scholarrock.com ir@scholarrock.com 857-259-5573
Media Molly MacLeod Scholar Rock mmacleod@scholarrock.com
media@scholarrock.com 802-579-5995
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