Schrödinger Reports Incentive Grants Pursuant to Nasdaq Listing Rule 5635(c)(4)

NEW YORK, October 17, 2024–(BUSINESS WIRE)–Schrödinger, Inc. (Nasdaq: SDGR), whose physics-based computing platform is transforming the way therapeutics and materials are discovered, today announced that on October 12, 2024 (i) a a non-statutory stock option to purchase 5,700 shares of the Company’s common stock to one newly hired employee and (ii) restricted stock units (RSUs) with respect to 15,890 shares of the Company’s common stock to seven newly hired employees. These grants were made pursuant to the Company’s 2021 Inducement Equity Incentive Plan, were approved by the Board of Directors’ Compensation Committee on behalf of the Company’s Board of Directors, and served as a material incentive for such employees to accept employment with the Company pursuant to Nasdaq Listing Rule 5635(c)( 4) be linked to his work remuneration.

The stock option has an exercise price of $17.67 per share, which represents the closing price of the Company’s common stock on October 11, 2024. The stock option has a term of ten years and vests over a period of four years, with 25 percent of the shares underlying. The option vests when the employee has completed 12 months of continuous service, measured from the date of commencement of employment, and the Balance of shares will vest in a series of successive equal monthly installments of 1/48 of the original number of shares once the employee completes each additional month of service over the 36-month period following the first anniversary of commencement of employment.

The RSUs vest over a period of four years, with 25 percent of such RSUs vesting upon the employee completing 12 months of continuous service from the start of vesting, and the remainder of the RSUs vesting in a series of successive equal annual installments of 1/4 the initial number of RSUs upon completion of each additional year of service for each such employee within three years following the first anniversary of the vesting date.

The incentive grants are subject to the terms of the grant agreements covering the grants and the Company’s 2021 Inducement Equity Incentive Plan.

About Schrödinger

Schrödinger is changing the way therapeutics and materials are discovered. Schrödinger has developed a physics-based computing platform that enables the discovery of high-value, novel molecules for drug development and materials applications faster and at a lower cost compared to traditional methods. The computing platform is licensed by biopharmaceutical and industrial companies, academic institutions and government laboratories around the world. Schrödinger’s multidisciplinary drug discovery team also uses the software platform to advance a portfolio of collaborative and proprietary programs to address unmet medical needs.

The story continues

Founded in 1990, Schrödinger employs around 850 people and works with customers and partners in more than 70 countries. To find out more, visit www.schrodinger.com, follow us on LinkedIn or visit our blog Extrapolations.com.

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Contacts

Contact for investors:
Allie Nicodemo
[email protected]