Scholar Rock Reports New Employee Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
CAMBRIDGE, Mass.–(BUSINESS WIRE)–
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 to R. Keith Woods, its newly named Chief Operating Officer and Vikas Sinha, its newly named Chief Financial Officer, covering an aggregate of up to 1,420,134 shares of its common stock, consisting of 110,067 stock options to purchase shares of common stock, 100,000 restricted stock units (“RSUs”), and up to 500,000 performance based restricted stock units (“PSUs”) to each executive.
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 to purchase common stock were granted on May 2, 2025 and the RSUs and PSUs were granted on April 27, 2025. The inducement stock options have an exercise price of $32.91, which is equal to the closing price of Scholar Rock’s common stock on May 2, 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 RSUs will be in four equal annual installments. Vesting for the inducement PSUs are subject to performance and time-based vesting conditions. All vesting related to inducement awards is subject to the employees’ continuing service at the Company through the applicable vesting date.
About Scholar Rock
Scholar Rock is a biopharmaceutical company that discovers, develops, and delivers life-changing therapies for people with serious diseases that have high unmet need. As a global leader in the biology of the transforming growth factor beta (TGFβ), the company is named for the visual resemblance of a scholar rock to protein structures. Over the past decade, Scholar Rock has created a pipeline with the potential to advance the standard of care for neuromuscular disease, cardiometabolic disorders, cancer, and other conditions where growth factor-targeted drugs can play a transformational role.
This commitment to unlocking fundamentally different therapeutic approaches is powered by broad application of a proprietary platform, which has developed novel monoclonal antibodies to modulate protein growth factors with extraordinary selectivity. By harnessing cutting-edge science in disease spaces that are historically under-addressed through traditional therapies, Scholar Rock works every day to create new possibilities for patients. Learn more about our approach at ScholarRock.com and follow @ScholarRock and on LinkedIn.
Scholar Rock® is a registered trademark of Scholar Rock, Inc.
Availability of Other Information About Scholar Rock
Investors and others should note that we communicate with our investors and the public using our company website www.scholarrock.com, including, but not limited to, company disclosures, investor presentations and FAQs, Securities and Exchange Commission filings, press releases, public conference call transcripts and webcast transcripts, as well as on X (formerly known as Twitter) and LinkedIn. The information that we post on our website or on X (formerly known as Twitter) or LinkedIn could be deemed to be material information. As a result, we encourage investors, the media and others interested to review the information that we post there on a regular basis. The contents of our website or social media shall not be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250506670740/en/
Scholar Rock:
Rushmie Nofsinger
Scholar Rock
[email protected]
[email protected]
857-259-5573
KEYWORDS: United States North America Massachusetts
INDUSTRY KEYWORDS: Biotechnology Pharmaceutical Health
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