Schrödinger Reports Inducement Grants under Nasdaq Listing Rule 5635(c)(4)
June 14 2024 - 7:30AM
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 June 11, 2024, the
company granted (i) a non-statutory stock option to purchase 2,400
shares of the company’s common stock to one newly hired employee
and (ii) restricted stock units (RSUs) with respect to 9,420 shares
of the company’s common stock to seven 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 option has an exercise price of $21.00 per share,
equal to the closing price of the company’s common stock on June
11, 2024. The stock option has a ten-year term and vests 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20240614979992/en/
Investor: Allie Nicodemo
allie.nicodemo@schrodinger.com
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