Schrodinger reports inducement grants under Nasdaq Listing Rule

Schrodinger reported that on March 19, 2023, the company granted non-statutory stock options to purchase an aggregate of 32,700 shares of the company’s common stock to 10 newly hired employees, including two newly hired employees based outside of the United States. 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. The stock options have an exercise price of $25.62 per share, equal to the closing price of Schrodinger’s common stock on March 17, 2023.