Nektar Therapeutics Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Nektar Therapeutics (NASDAQ: NKTR) announced that on January 21, 2026 its Organization and Compensation Committee granted non-qualified stock options to purchase 1,600 shares to one newly hired employee under the 2025 Inducement Plan.

The options have an exercise price of $36.92 (closing price on January 21, 2026), an eight-year term, and vest over four years (25% after one year, then monthly 1/48ths).

Key Figures

Inducement options: 1,600 shares Exercise price: $36.92 per share Option term: 8 years +5 more

8 metrics

Inducement options 1,600 shares Non-qualified stock options granted Jan 21, 2026

Exercise price $36.92 per share Equal to Jan 21, 2026 closing price

Option term 8 years Term of inducement stock options

Vesting period 4 years Inducement options vest over four years

Initial vesting tranche 1/4 of shares Vests on one-year anniversary of grant date

Ongoing vesting 1/48 monthly Monthly vesting over remaining three years

Current price $35.23 Price before inducement grant disclosure

52-week range $6.48–$66.92 52-week low and high prior to this news

Market Reality Check

Price: $37.33 Vol: Volume 497,802 vs 20-day ...

normal vol

$37.33 Last Close

Volume Volume 497,802 vs 20-day average 712,076, indicating lighter-than-usual trading ahead of this news. normal

Technical Shares at $35.23 were trading slightly below the 200-day MA of $35.27 before the announcement.

Peers on Argus

Before this filing, NKTR was down 1.89% while close biotech peers were mixed: SA...

Before this filing, NKTR was down 1.89% while close biotech peers were mixed: SANA -2.54%, ABUS -0.24%, but PRAX, QURE, and SYRE showed gains between 1.56% and 2.71%, suggesting stock-specific rather than broad sector pressure.

Historical Context

5 past events · Latest: Dec 16 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Dec 16	Phase 2b results	Positive	-7.8%	REZOLVE-AA Phase 2b topline showed strong signals but missed primary endpoint.
Dec 15	Conference call notice	Neutral	-2.6%	Announcement of investor call to review upcoming REZOLVE-AA topline data.
Dec 05	Inducement grants	Neutral	+0.7%	Disclosure of 18,310 inducement stock options to two new employees.
Nov 08	Clinical data update	Positive	+3.6%	REZOLVE-AD Phase 2b data showed significant asthma and dermatitis improvements.
Nov 06	Earnings report	Neutral	+1.6%	Q3 2025 results with $270.2M cash and revenue decline after facility sale.

Pattern Detected

Recent major clinical and earnings updates generally aligned with price moves, while one mixed but largely positive alopecia readout saw a sharp negative reaction.

Recent Company History

Over the last few months, Nektar reported several key updates. A Dec 16, 2025 REZOLVE-AA Phase 2b topline readout showed efficacy signals but missed the primary endpoint in the main analysis, and shares fell 7.77%. Earlier, REZOLVE-AD Phase 2b data on Nov 8, 2025 showed statistically significant improvements and the stock rose 3.57%. Q3 2025 earnings on Nov 6, 2025 highlighted $270.2M in cash and support into Q2 2027, with a 1.58% gain. A prior inducement grant disclosure on Dec 5, 2025 saw a modest 0.67% uptick.

Market Pulse Summary

This announcement details a standard inducement grant of 1,600 non-qualified stock options under Nek...

Analysis

This announcement details a standard inducement grant of 1,600 non-qualified stock options under Nektar’s 2025 Inducement Plan, with an exercise price of $36.92, an eight-year term, and four-year vesting. It follows a period of active clinical and regulatory news flow, including recent REZOLVE-AA and REZOLVE-AD updates and Q3 2025 financials. Investors may watch upcoming February 2026 communications and further trial milestones for more consequential catalysts than this administrative equity action.

Key Terms

nasdaq listing rule 5635(c)(4), non-qualified stock options, exercise price

3 terms

nasdaq listing rule 5635(c)(4) regulatory

"pursuant to Nasdaq Listing Rule 5635(c)(4).The stock options have an..."

NASDAQ Listing Rule 5635(c)(4) is a rule that requires a company to get approval from its shareholders before selling a large amount of its shares, usually over 20%. This helps protect investors by making sure the company doesn't flood the market with new shares without their say, which could lower the stock's value.

non-qualified stock options financial

"granted non-qualified stock options to purchase 1,600 shares of its common..."

Non-qualified stock options are a type of employee benefit that gives individuals the right to buy company shares at a set price, usually lower than the market value, within a certain period. Unlike other options that may have special tax advantages, these options are taxed as income when exercised, which can affect how much money the employee or investor ultimately gains. They are important because they can influence company compensation strategies and impact the financial outcomes for employees and investors.

exercise price financial

"The stock options have an exercise price per share equal to $36.92..."

The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.

AI-generated analysis. Not financial advice.

SAN FRANCISCO, Jan. 30, 2026 /PRNewswire/ -- Nektar Therapeutics (NASDAQ: NKTR) today announced that, on January 21, 2026, the Organization and Compensation Committee of Nektar's Board of Directors granted non-qualified stock options to purchase 1,600 shares of its common stock to one newly-hired employee under Nektar's 2025 Inducement Plan.

Nektar's 2025 Inducement Plan was adopted by its Board of Directors on November 6, 2025 and is used exclusively for the grant of equity awards to individuals who were not previously an employee or non-employee director of Nektar (or following a bona fide period of non-employment), as an inducement material to such individual's entering into employment with Nektar, pursuant to Nasdaq Listing Rule 5635(c)(4).

The stock options have an exercise price per share equal to $36.92, which is equal to the closing price of Nektar's common stock on January 21, 2026. The stock options have an eight-year term and will vest over four years with 1/4^th of the shares vesting on the one-year anniversary of the employee's grant date and 1/48^th of the shares vesting monthly thereafter over the next three years, subject to each employee's continued employment with Nektar on such vesting dates. The stock options are subject to the terms and conditions of Nektar's 2025 Inducement Plan, and the terms and conditions of the stock option agreement covering the grant.

About Nektar Therapeutics

Nektar Therapeutics is a clinical-stage biotechnology company focused on developing treatments that address the underlying immunological dysfunction in autoimmune and chronic inflammatory diseases. Nektar's lead product candidate, rezpegaldesleukin (REZPEG, or NKTR-358), is a novel, first-in-class regulatory T cell stimulator being evaluated in two Phase 2b clinical trials, one in atopic dermatitis, one in alopecia areata, and in one Phase 2 clinical trial in Type 1 diabetes mellitus. Nektar's pipeline also includes a preclinical bivalent tumor necrosis factor receptor type II (TNFR2) antibody and bispecific programs, NKTR-0165 and NKTR-0166, and a modified hematopoietic colony stimulating factor (CSF) protein, NKTR-422. Nektar, together with various partners, is also evaluating NKTR-255, an investigational IL-15 receptor agonist designed to boost the immune system's natural ability to fight cancer, in several ongoing clinical trials.

Nektar is headquartered in San Francisco, California. For further information, visit www.nektar.com and follow us on LinkedIn.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements which can be identified by words such as: "could," "develop," "evaluate," "address," "may" and similar references to future periods. Examples of forward-looking statements include, among others, statements regarding the therapeutic potential of, and future development plans for, rezpegaldesleukin, NKTR-0165, NKTR-0166, NKTR-422, and NKTR-255. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results to differ materially from those indicated in the forward-looking statements include, among others: (i) our statements regarding the therapeutic potential of rezpegaldesleukin, NKTR-0165, NKTR-0166, NKTR-422 and NKTR-255 are based on preclinical and clinical findings and observations and are subject to change as research and development continue; (ii) rezpegaldesleukin, NKTR-0165, NKTR-0166, NKTR-422 and NKTR-255 are investigational agents and continued research and development for these drug candidates is subject to substantial risks, including negative safety and efficacy findings in future clinical studies (notwithstanding positive findings in earlier preclinical and clinical studies); (iii) rezpegaldesleukin, NKTR-0165, NKTR-0166, NKTR-422 and NKTR-255 are in clinical development and the risk of failure is high and can unexpectedly occur at any stage prior to regulatory approval; (iv) data reported from ongoing clinical trials are necessarily interim data only and the final results will change based on continuing observations; (v) the timing of the commencement or end of clinical trials and the availability of clinical data may be delayed or unsuccessful due to regulatory delays, slower than anticipated patient enrollment, manufacturing challenges, changing standards of care, evolving regulatory requirements, clinical trial design, clinical outcomes, competitive factors, or delay or failure in ultimately obtaining regulatory approval in one or more important markets; (vi) a Fast Track designation does not increase the likelihood that rezpegaldesleukin will receive marketing approval in the United States; (vii) patents may not issue from our patent applications for our drug candidates, patents that have issued may not be enforceable, or additional intellectual property licenses from third parties may be required; and (viii) certain other important risks and uncertainties set forth in our Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on November 7, 2025. Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

Contacts:

For Investors:

Vivian Wu
VWu@nektar.com

Corey Davis, Ph.D.
LifeSci Advisors, LLC
cdavis@lifesciadvisors.com
212-915-2577

Ahu Demir, Ph.D.
LifeSci Advisors, LLC
ademir@lifesciadvisors.com
212-915-3820

For Media:

Jonathan Pappas
LifeSci Communications
857-205-4403
jpappas@lifescicomms.com

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SOURCE Nektar Therapeutics

FAQ

What did Nektar (NKTR) grant under the 2025 Inducement Plan on January 21, 2026?

Nektar granted non-qualified stock options to purchase 1,600 shares to one newly hired employee. According to Nektar, the grant was made under the 2025 Inducement Plan to induce employment and complies with Nasdaq Rule 5635(c)(4).

What are the exercise price and term of the NKTR inducement stock options granted January 21, 2026?

The options have an exercise price of $36.92 per share and an eight-year term. According to Nektar, $36.92 equals the closing price on January 21, 2026 and governs option exercise pricing.

How do the NKTR inducement options vest for the employee hired January 21, 2026?

The options vest over four years: 25% at one year, then monthly 1/48ths over three years. According to Nektar, vesting is subject to the employee's continued employment on each vesting date.

Why did Nektar (NKTR) use the 2025 Inducement Plan for the January 21, 2026 grant?

The 2025 Inducement Plan is used for equity awards to individuals not previously employed or directors. According to Nektar, the plan provides inducement grants pursuant to Nasdaq Listing Rule 5635(c)(4).

Will the January 21, 2026 NKTR inducement grant dilute existing shareholders materially?

The grant covers 1,600 shares, a small absolute number relative to public float. According to Nektar, the award is a single inducement grant; material dilution is unlikely absent larger, additional issuances.