Scholar Rock (NASDAQ: SRRK), a late-stage biopharmaceutical company dedicated to developing innovative treatments for spinal muscular atrophy, cardiometabolic disorders, and other serious diseases influenced by protein growth factors, today announced the granting of inducement equity awards to five newly hired employees. These awards cover a total of 85,200 shares of common stock, comprising inducement stock options to purchase 48,685 shares and inducement restricted stock units (RSUs) covering 36,515 shares.
The awards are governed by the terms and conditions of the Company’s 2022 Inducement Equity Plan (the “Plan”) and associated award agreements.
The Plan, initially adopted by Scholar Rock’s board of directors on June 16, 2022, and subsequently amended on September 4, 2022, February 3, 2023, and January 25, 2024, is exclusively used for granting equity awards to individuals who were not previously employed by the Company or are rejoining following a bona fide period of non-employment. These inducements are material to their acceptance of employment with Scholar Rock, in accordance with Nasdaq Listing Rule 5635(c)(4).
The inducement stock options have an exercise price of $9.48, equivalent to the closing price of Scholar Rock’s common stock on August 12, 2024. These options will vest 25% after the first year of each employee’s start date, with the remaining 75% vesting in 12 equal quarterly installments thereafter. The inducement RSUs will vest in four equal annual installments, with all vesting contingent upon the employee’s continued service with the Company through the applicable vesting dates.
About Scholar Rock
Scholar Rock is a biopharmaceutical company focused on discovering, developing, and delivering life-changing therapies for serious diseases with high unmet needs. As a leader in the study of the transforming growth factor beta (TGFβ) superfamily of cell proteins, Scholar Rock specializes in advancing treatments where protein growth factors are crucial. Over the past decade, the company has built a pipeline poised to transform the standard of care for neuromuscular diseases, cardiometabolic disorders, cancer, and other conditions where targeting growth factors can be revolutionary.
Scholar Rock is the first company to demonstrate clinical proof-of-concept for a muscle-targeted treatment in spinal muscular atrophy (SMA). This pioneering approach is driven by a proprietary platform that has developed highly selective monoclonal antibodies to modulate protein growth factors. By focusing on disease areas that have traditionally been under-addressed, Scholar Rock is dedicated to creating new therapeutic possibilities for patients. Learn more at ScholarRock.com and follow @ScholarRock on Twitter and LinkedIn.
Scholar Rock® is a registered trademark of Scholar Rock, Inc.
Availability of Additional Information About Scholar Rock
Investors and the public are encouraged to stay informed through our company website, www.scholarrock.com, where we regularly post updates, including investor presentations, SEC filings, press releases, and more. We also share information on Twitter and LinkedIn, which may be considered material. The contents of our website and social media channels are not incorporated by reference into any SEC filing.
