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KalVista Pharmaceuticals Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
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KalVista Pharmaceuticals, Inc. (KALV) recently granted four newly-hired employees inducement options to purchase an aggregate of 42,000 shares of KalVista common stock. The options have an exercise price of $15.74 per share and vest over a four-year period. Each stock option has a 10-year term and is subject to the terms and conditions of KalVista’s Inducement Equity Incentive Plan and a stock option agreement covering the grant.
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CAMBRIDGE, Mass. & SALISBURY, England--(BUSINESS WIRE)--
KalVista Pharmaceuticals, Inc. (NASDAQ: KALV), today announced that the compensation committee of KalVista’s board of directors granted four newly-hired employees inducement options to purchase an aggregate of 42,000 shares of KalVista common stock on February 1, 2024 as inducements material to each employee entering into employment with KalVista. The options were granted in accordance with Nasdaq Listing Rule 5635(c)(4).
The options have an exercise price of $15.74 per share, which was equal to the closing price of KalVista common stock on the grant date. One-fourth of the options vest on the one-year anniversary of the vesting commencement date and the remainder vest in equal monthly installments over the next three years, in each case subject to the new employee’s continued service with the company. Each stock option has a 10-year term and is subject to the terms and conditions of KalVista’s Inducement Equity Incentive Plan and a stock option agreement covering the grant.
About KalVista Pharmaceuticals, Inc.
KalVista Pharmaceuticals, Inc. is a pharmaceutical company focused on the discovery, development, and commercialization of oral, small molecule protease inhibitors for diseases with significant unmet need. KalVista is developing sebetralstat as an oral on-demand therapy for HAE and anticipates providing data from the phase 3 KONFIDENT clinical trial in early 2024. In addition, KalVista’s oral Factor XIIa inhibitor program represents a new generation of therapies that may further improve the treatment for people living with HAE and other diseases.
For more information about KalVista, please visit www.kalvista.com
For more information on the sebetralstat HAE on-demand Phase 3 KONFIDENT study, please visit www.konfidentstudy.com
How many shares of KalVista common stock were granted to the newly-hired employees?
Four newly-hired employees were granted inducement options to purchase an aggregate of 42,000 shares of KalVista common stock.
What is the exercise price of the options granted?
The exercise price of the options is $15.74 per share.
How long is the vesting period for the options?
The options vest over a four-year period, with one-fourth vesting on the one-year anniversary and the remainder vesting in equal monthly installments over the next three years.
What is the term of each stock option?
Each stock option has a 10-year term.
What are the conditions for the options granted?
The options are subject to the terms and conditions of KalVista’s Inducement Equity Incentive Plan and a stock option agreement covering the grant.
kalvista is a clinical stage pharmaceuticals company focused on the discovery, development, and commercialization of small molecule protease inhibitors.
