Form 4: Schrodinger Director Jeffrey Chodakewitz Receives Stock Options and Restricted Stock Units

Director Jeffrey Chodakewitz acquired 5,000 restricted stock units and stock options for 8,550 shares of Schrodinger, Inc. on June 18, 2024.

Summary

• On June 18, 2024, Jeffrey Chodakewitz, a director of Schrodinger, Inc., was granted 5,000 restricted stock units (RSUs) and options to purchase 8,550 shares of common stock.
• The RSUs were granted under the Issuer's 2022 Equity Incentive Plan, each representing a contingent right to receive one share of common stock.
• The RSUs vest on the twelve-month anniversary of the grant date or the next annual meeting of stockholders, subject to continued service.
• The stock options have an exercise price of $19.32 and also vest on the twelve-month anniversary of the grant date or the next annual meeting of stockholders, subject to continued service.
• Following these transactions, Chodakewitz beneficially owns 11,250 shares of common stock, including 5,000 unvested RSUs, and options for 8,550 shares.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. It reflects a standard equity grant, which is generally viewed favorably as it aligns management's interests with shareholders.

Positives

• The grant of RSUs and stock options aligns the director's interests with those of the shareholders, incentivizing continued service and performance.
• The vesting schedule encourages long-term commitment from the director.

Industry Context

This filing is a routine disclosure of equity grants to a company director, a common practice in publicly traded companies to incentivize and retain key personnel. It reflects standard compensation practices within the biotech/software industry.

Comparison to Industry Standards

• Equity grants to directors are a common practice across the industry.
• Companies like Relay Therapeutics, Recursion Pharmaceuticals, and Exscientia also utilize stock options and RSUs as part of their compensation packages for directors and executives.
• The vesting schedules and grant sizes are generally comparable to industry norms, aligning with the goal of incentivizing long-term value creation.

Stakeholder Impact

• Shareholders may view the equity grant positively as it incentivizes the director to work towards increasing shareholder value.
• Employees may see this as a positive sign of the company investing in its leadership.

Key Dates