Schrödinger settles derivative suit over director pay; adopts compensation reforms

Schrodinger, Inc.

Company adopted new director comp policy capping each element at 60th percentile of peer group.
Settlement requires retention of independent compensation consultant for annual peer analysis.
Company to pay $390,000 in attorneys' fees; no admission of wrongdoing by defendants.
Court approval hearing scheduled for June 18, 2025 in New York Supreme Court.
Governance reforms must be maintained for at least four years from adoption.

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