Schrodinger reports inducement grants under Nasdaq Listing Rule

Schrodinger reported that on January 16, 2023, the company granted non-statutory stock options to purchase an aggregate of 14,300 shares of the company’s common stock to six newly hired employees, including three newly hired employees based outside of the United States and restricted stock units with respect to 4,350 shares of the company’s common stock to one newly hired employee. These grants were made pursuant to the company’s 2021 Inducement Equity Incentive Plan, were approved by the compensation committee of the board of directors pursuant to a delegation by the company’s board of directors, and were made as a material inducement to such employees’ acceptance of employment with the company in accordance with Nasdaq Listing Rule 5635(c)(4) as a component of his or her employment compensation.