Schrödinger Reports Inducement Grants under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Schrödinger (SDGR) has announced new inducement grants for recently hired employees. The company granted a non-statutory stock option to purchase 1,575 shares to one employee and restricted stock units (RSUs) for 6,943 shares to seven employees.

The stock option, priced at $22.90 per share, has a ten-year term and vests over four years, with 25% vesting after 12 months and the remainder vesting monthly over the following 36 months. The RSUs also vest over four years, with 25% vesting after the first year and the remaining portions vesting annually over three years.

These grants were made under the company's 2021 Inducement Equity Incentive Plan and were approved by the compensation committee in accordance with Nasdaq Listing Rule 5635(c)(4).

NEW YORK--(BUSINESS WIRE)-- Schrödinger, Inc. (Nasdaq: SDGR) today reported that on March 15, 2025, the company granted (i) a non-statutory stock option to purchase 1,575 shares of the company’s common stock to one newly hired employee and (ii) restricted stock units (RSUs) with respect to 6,943 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 $22.90 per share, equal to the closing price of the company’s common stock on March 14, 2025. 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 Schrödinger

Schrödinger is transforming molecular discovery with its computational platform, which enables the discovery of novel, highly optimized molecules for drug development and materials design. Schrödinger’s software platform is built on more than 30 years of R&D investment and is licensed by biotechnology, pharmaceutical and industrial companies, and academic institutions around the world. Schrödinger also leverages the platform to advance a portfolio of collaborative and proprietary programs and is advancing three clinical-stage oncology programs. Founded in 1990, Schrödinger has approximately 900 employees operating from 15 locations globally. 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/20250318319327/en/

Investor contact:

Allie Nicodemo

allie.nicodemo@schrodinger.com

Source: Schrödinger

FAQ

What are the terms of Schrödinger's (SDGR) March 2025 stock option grants?

The stock option grant includes 1,575 shares at $22.90 per share, vesting over 4 years with 25% after first year and monthly thereafter.

How many RSUs did Schrödinger (SDGR) grant in March 2025?

Schrödinger granted 6,943 RSUs to seven new employees.

What is the vesting schedule for SDGR's March 2025 RSU grants?

The RSUs vest over 4 years - 25% after first year, then equal yearly installments over the next 3 years.

Under which plan were SDGR's March 2025 inducement grants issued?

The grants were issued under Schrödinger's 2021 Inducement Equity Incentive Plan.