Schrödinger Reports Incentive Grants Under Nasdaq Listing Rule 5635 (c) (4)
NEW YORK–(COMMERCIAL THREAD) – SchrÃ¶dinger, Inc. (Nasdaq: SDGR), whose physics-based software platform is transforming the way therapeutics and materials are discovered, today announced that on September 17, 2021, the company has granted non-statutory stock options to purchase an aggregate of 45,050 common shares of the company to 15 new employees. These allocations were made as part of the company’s 2021 stock-based incentive plan, were approved by the compensation committee of the board of directors pursuant to a delegation from the company’s board of directors, and have been made as a material inducement to accept employment by these employees. with the company in accordance with the Nasdaq listing rule 5635 (c) (4) as part of his employment compensation.
The stock options have an exercise price of $ 62.42 per share, equal to the closing price of SchrÃ¶dinger’s common stock on September 17, 2021. Each stock option has a term of ten years and vests over four years, 25% of the underlying shares the option vests when the employee completes 12 months of uninterrupted service from the employment start date and the remaining shares are vested in a series successive equal monthly payments of 1/48 of the initial number of shares at the end of each additional month by the service employee during the 36 months following the first anniversary of the date of entry into office. Incentive grants are subject to the terms and conditions of the award agreements covering the grants and the company’s 2021 stock incentive plan.
SchrÃ¶dinger is transforming the way therapeutics and materials are discovered. SchrÃ¶dinger pioneered a physics-based software platform that enables the discovery of new, high-quality molecules for drug development and material applications faster and at lower cost compared to traditional methods. The software platform is used by biopharmaceutical and industrial companies, academic institutions and government laboratories around the world. SchrÃ¶dinger’s multidisciplinary drug discovery team is also leveraging the software platform to advance collaborative programs and its own pipeline of new therapies to address unmet medical needs.
Founded in 1990, SchrÃ¶dinger has more than 500 employees and is engaged with customers and employees in more than 70 countries. To learn more, visit www.schrÃ¶dinger.com and follow us on LinkedIn and Twitter.