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

Rhea-AI Summary

Nektar Therapeutics (NASDAQ:NKTR) announced inducement grants under its 2025 Inducement Plan on February 20, 2026. The Organization and Compensation Committee granted non-qualified stock options for a total of 4,300 shares to three newly hired employees with an exercise price of $73.73 per share.

The options carry an eight-year term and vest over four years (1/4 on the one-year anniversary, then monthly 1/48th for three years), subject to continued employment and the plan and option agreement terms.

News Market Reaction – NKTR

-2.19%

1 alert

-2.19% News Effect

On the day this news was published, NKTR declined 2.19%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Inducement options: 4,300 shares New hires: 3 employees Option exercise price: $73.73 per share +5 more

8 metrics

Inducement options 4,300 shares Aggregate non-qualified stock options granted to three new employees

New hires 3 employees Recipients under the 2025 Inducement Plan

Option exercise price $73.73 per share Equal to NKTR closing price on February 20, 2026

Option term 8 years Non-qualified stock option duration under inducement grant

Vesting period 4 years 1/4 after one year, then monthly over next three years

Initial vesting 1/4 of shares Cliff vesting on first anniversary of grant date

Ongoing vesting 1/48 monthly Monthly vesting over remaining three years subject to employment

Plan adoption date November 6, 2025 Board adopted the 2025 Inducement Plan on this date

Market Reality Check

Price: $84.86 Vol: Volume 734,771 is at 0.41...

low vol

$84.86 Last Close

Volume Volume 734,771 is at 0.41x the 20-day average of 1,799,864, indicating lighter trading ahead of this filing. low

Technical Shares at $70.70 are trading above the 200-day moving average of $41.57 and about 6.6% below the 52-week high of $75.67.

Peers on Argus

With NKTR down 2.42%, peers show mixed moves: QURE up 38.01%, PRAX up 2.44%, SAN...

2 Up 1 Down

With NKTR down 2.42%, peers show mixed moves: QURE up 38.01%, PRAX up 2.44%, SANA down 5.97%, and ABUS down 1.31%. Momentum data flags QURE and SANA in scanners, but directions are not uniform, supporting a stock-specific rather than broad sector move.

Common Catalyst Another biotech peer, SYRE, also reported inducement awards today, suggesting routine hiring-related equity grants rather than a sector-wide catalyst.

Historical Context

5 past events · Latest: Feb 26 (Neutral)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Feb 26	Earnings call timing	Neutral	+4.7%	Set date and time for Q4 and full-year 2025 results call.
Feb 24	Investor conferences	Neutral	+2.9%	Announced participation in two March 2026 healthcare investor conferences.
Feb 17	Research collaboration	Positive	+3.5%	Collaboration with UCSF on TNFR2 antibody NKTR‑0165 in multiple sclerosis models.
Feb 13	Equity offering close	Neutral	+3.5%	Closed underwritten equity offering raising about $460M in gross proceeds.
Feb 11	Equity offering pricing	Neutral	+7.0%	Priced upsized $400M offering of shares and pre-funded warrants.

Pattern Detected

Recent NKTR headlines over the last month have generally coincided with positive next-day price reactions, including financing and collaboration updates.

Recent Company History

Over the past month, Nektar reported several milestones. An offering priced on Feb 10 and closed on Feb 13 raised around $400–460 million, with associated 424B5 filings detailing use of proceeds and cash of about $229.1M. A Feb 17 research collaboration on NKTR‑0165 and a Feb 24 conference schedule were followed by an earnings date notice on Feb 26. Each of these items saw positive 24h price reactions, framing today’s inducement grants as a smaller, administrative update in a busy news period.

Market Pulse Summary

This announcement details routine inducement equity grants under Nasdaq Listing Rule 5635(c)(4), cov...

Analysis

This announcement details routine inducement equity grants under Nasdaq Listing Rule 5635(c)(4), covering 4,300 non‑qualified options for three new employees at an exercise price of $73.73 and an 8‑year term. Vesting occurs over 4 years. In context, Nektar recently completed sizeable equity financings and a research collaboration, so investors may focus more on cash resources, upcoming earnings on March 12, 2026, and clinical milestones than on these small hiring-related awards.

Key Terms

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

4 terms

non-qualified stock options financial

"granted non-qualified stock options to purchase an aggregate of 4,300 shares"

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.

nasdaq listing rule 5635(c)(4) regulatory

"as an inducement material to such individual's entering into employment with Nektar, pursuant to Nasdaq Listing Rule 5635(c)(4)"

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.

exercise price financial

"The stock options have an exercise price per share equal to $73.73"

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.

vesting financial

"will vest over four years with 1/4th of the shares vesting on the one-year anniversary"

Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.

AI-generated analysis. Not financial advice.

SAN FRANCISCO, March 6, 2026 /PRNewswire/ -- Nektar Therapeutics (NASDAQ: NKTR) today announced that, on February 20, 2026, the Organization and Compensation Committee of Nektar's Board of Directors granted non-qualified stock options to purchase an aggregate of 4,300 shares of its common stock to three newly-hired employees 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 $73.73, which is equal to the closing price of Nektar's common stock on February 20, 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 one Phase 2b clinical trial in atopic dermatitis, one Phase 2b clinical trial in alopecia areata, and 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) announce about inducement grants on March 6, 2026?

Nektar announced non-qualified stock options for a total of 4,300 shares granted to three new hires. According to the company, grants were made under its 2025 Inducement Plan with an exercise price equal to the February 20, 2026 closing price of $73.73 per share.

What are the exercise price and term for the NKTR inducement stock options?

The exercise price is $73.73 per share and each option has an eight-year term. According to the company, $73.73 equals the closing price on February 20, 2026, and options expire eight years from the grant date, subject to plan terms.

How do the NKTR inducement options vest for the newly hired employees?

Options vest over four years: 1/4 on the one-year anniversary, then monthly 1/48th over three years. According to the company, vesting is contingent on each employee's continued employment and governed by the inducement plan and option agreements.

Under which plan were the NKTR inducement options granted and why?

Grants were made under Nektar's 2025 Inducement Plan to attract new employees. According to the company, the plan is used exclusively to grant equity awards to individuals not previously employed or after a bona fide non-employment period, per Nasdaq Rule 5635(c)(4).

How many employees received inducement grants and how many shares were involved for NKTR?

Three newly hired employees received inducement stock options covering an aggregate of 4,300 shares. According to the company, the aggregate grant reflects non-qualified options allocated on February 20, 2026 under the 2025 Inducement Plan.