Schrödinger Reports Inducement Grants under Nasdaq Listing Rule 5635(c)(4) to Newly Appointed Chief Commercial Officer
Schrödinger, Inc. (NASDAQ:SDGR) today announced the grant of inducement equity awards to the company's newly appointed EVP, Chief Commercial Officer, Global Head of Software Sales & Marketing, Mannix Aklian. As previously announced, Mr. Aklian joined the company on May 28, 2025. The grants were made pursuant to the company's 2021 Inducement Equity Incentive Plan, as amended, were approved by the compensation committee of the board of directors pursuant to a delegation by the company's board of directors, effective as of May 29, 2025, and were made as a material inducement to Mr. Aklian's acceptance of employment with the company in accordance with Nasdaq Listing Rule 5635(c)(4) as a component of his employment compensation.
The inducement grants consisted of a non-statutory stock option to purchase 84,375 shares of the company's common stock and restricted stock units (RSUs) with respect to 14,063 shares of the company's common stock.
The stock option has an exercise price of $21.44 per share, equal to the closing price of the company's common stock on May 29, 2025. The stock option has a ten-year term and vests over four years, with 25 percent of the shares underlying the option vesting when Mr. Aklian completes 12 months of continuous service measured from his employment start date, and the balance of the shares vesting in a series of successive equal monthly installments of 1/48 of the original number of shares upon Mr. Aklian's completion of each additional month of service over the 36-month period following the first anniversary of his employment start date, subject to continued service.
The RSUs vest over four years, with 25 percent of such RSUs vesting when Mr. Aklian completes 12 months of continuous service measured from the vesting commencement date, and the balance of the RSUs vesting in a series of successive equal yearly installments of 1/4 of the original number of RSUs upon Mr. Aklian's completion of each additional year of service over the three-year period following the first anniversary of the vesting commencement date.
The inducement grants are subject to the terms and conditions of award agreements covering the grants and the company's 2021 Inducement Equity Incentive Plan.
About Schrödinger
Schrödinger is transforming molecular discovery with its computational platform, which enables the discovery of novel, highly optimized molecules for drug development and materials design. Schrödinger's software platform is built on more than 30 years of R&D investment and is licensed by biotechnology, pharmaceutical and industrial companies, and academic institutions around the world. Schrödinger also leverages the platform to advance a portfolio of collaborative and proprietary programs and is advancing three clinical-stage oncology programs. Founded in 1990, Schrödinger has approximately 800 employees operating from 15 locations globally. To learn more, visit www.schrodinger.com, follow us on LinkedIn, or visit our blog, Extrapolations.com
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