Scholar Rock (NASDAQ: SRRK) announced that they have granted a newly hired employee incentive equity awards covering an aggregate of 26,250 shares of their common stock. The incentive equity awards include 15,000 shares of stock options and 11,250 restricted stock units (RSUs). This is part of the company’s mission to develop treatments for serious diseases in which protein growth factors play a fundamental role.
The Company’s 2022 Inducement Equity Plan (“The Plan”) and its accompanying stock option agreement provide the terms and conditions that govern the awarding of these options. Take advantage of this opportunity and join us in achieving our shared vision!
Scholar Rock’s board of directors adopted the Equity Award Plan on June 16, 2022, as a way to attract and retain the best talent. This Plan provides equity awards to individuals who are new to the company or who have been away from it for a period of time. It is designed to be an incentive for them to join and stay with Scholar Rock, in accordance with Nasdaq Listing Rule 5635(c)(4).
Scholar Rock’s stock options come with an exercise price of $9.52, the same as the closing price of its common stock on March 13, 2023. Upon commencement of service, 25% of the shares of common stock underlying the award will vest, and the remaining 75% will vest in 12 equal quarterly installments. For Restricted Stock Units, vesting will occur in four equal annual installments. All vesting related to inducement awards is contingent upon the employee’s continued service with the Company through the applicable vesting date.
About Scholar Rock
Scholar Rock is on a mission to revolutionize the way serious diseases are treated. Through their proprietary platform, they are developing highly innovative biopharmaceuticals that are capable of targeting protein growth factors at the cellular level to address a wide range of diseases, including neuromuscular disorders, cancer and fibrosis. By selectively targeting the molecular mechanisms of growth factor activation, they are aiming to avoid the limitations of traditional treatments and create therapies that can truly transform the lives of patients. Scholar Rock believes their focus on biologically validated growth factors is the key to unlocking a more efficient development path and delivering life-changing treatments.