Schrödinger Reports Inducement Grants under Nasdaq Listing Rule 5635(c)(4)
February 16 2024 - 8:30AM
Business Wire
Schr�dinger, Inc. (Nasdaq: SDGR), whose physics-based
computational platform is transforming the way therapeutics and
materials are discovered, today reported that on February 13, 2024,
the company granted (i) non-statutory stock options to purchase
4,800 shares of the company’s common stock to four newly hired
employees and (ii) restricted stock units (RSUs) with respect to
5,550 shares of the company’s common stock to eight newly hired
employees. These grants were made pursuant to the company’s 2021
Inducement Equity Incentive Plan, were approved by the compensation
committee of the board of directors pursuant to a delegation by the
company’s board of directors, and were made as a material
inducement to such employees’ acceptance of employment with the
company in accordance with Nasdaq Listing Rule 5635(c)(4) as a
component of his or her employment compensation.
The stock options have an exercise price of $26.58 per share,
equal to the closing price of Schr�dinger’s common stock on
February 13, 2024. The stock options have a ten-year term and vest
over four years, with 25 percent of the shares underlying the
option vesting when the employee completes 12 months of continuous
service measured from the employment start date and the balance of
the shares vesting in a series of successive equal monthly
installments of 1/48 of the original number of shares upon the
employee’s completion of each additional month of service over the
36-month period following the first anniversary of the employment
start date.
The RSUs vest over four years, with 25 percent of such RSUs
vesting when such employee completes 12 months of continuous
service measured from the vesting commencement date, and the
balance of the RSUs vesting in a series of successive equal yearly
installments of 1/4 of the original number of RSUs upon each such
employee’s completion of each additional year of service over the
three-year period following the first anniversary of the vesting
commencement date.
The inducement grants are subject to the terms and conditions of
award agreements covering the grants and the company’s 2021
Inducement Equity Incentive Plan.
About Schr�dinger
Schr�dinger is transforming the way therapeutics and materials
are discovered. Schr�dinger has pioneered a physics-based
computational platform that enables discovery of high-quality,
novel molecules for drug development and materials applications
more rapidly and at lower cost compared to traditional methods. The
computational platform is licensed by biopharmaceutical and
industrial companies, academic institutions, and government
laboratories around the world. Schr�dinger’s multidisciplinary drug
discovery team also leverages the software platform to advance a
portfolio of collaborative and proprietary programs to address
unmet medical needs.
Founded in 1990, Schr�dinger has approximately 850 employees and
is engaged with customers and collaborators in more than 70
countries. To learn more, visit www.schrodinger.com, follow us on LinkedIn, or visit our blog, Extrapolations.com.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240216289344/en/
Investor contact: Allie Nicodemo
allie.nicodemo@schrodinger.com
Schrodinger (NASDAQ:SDGR)
Historical Stock Chart
From Jul 2024 to Aug 2024
Schrodinger (NASDAQ:SDGR)
Historical Stock Chart
From Aug 2023 to Aug 2024