Scholar Rock (NASDAQ: SRRK; the “Company”), a late-stage biopharmaceutical company focused on advancing innovative treatments for neuromuscular diseases, cardiometabolic disorders, and other serious diseases, today announced that the company granted inducement equity awards covering an aggregate of 156,650 shares of its common stock to 19 newly hired employees, consisting of inducement stock options to purchase an aggregate of 89,515 shares of common stock and inducement restricted stock units, covering an aggregate of 67,135 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 $28.93, which is equal to the closing price of Scholar Rock’s common stock on April 14, 2025. 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.
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