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

Rhea-AI Summary

Nektar Therapeutics (NASDAQ:NKTR) announced inducement equity grants on April 20, 2026 under its 2025 Inducement Plan. The Organization and Compensation Committee granted non-qualified stock options for 28,450 shares and 2,950 RSUs to six newly hired employees.

Options have an $100.35 exercise price, eight-year term, and standard four-year vesting; RSUs vest over four years with quarterly vesting after year one.

AI-generated analysis. Not financial advice.

News Market Reaction – NKTR

+0.50%

1 alert

+0.50% News Effect

On the day this news was published, NKTR gained 0.50%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Stock options granted: 28,450 shares RSUs granted: 2,950 units New employees: 6 employees +5 more

8 metrics

Stock options granted 28,450 shares Non-qualified stock options under 2025 Inducement Plan for new hires

RSUs granted 2,950 units Restricted stock units for six newly-hired employees

New employees 6 employees Recipients of inducement equity awards

Option exercise price $100.35 per share Equal to NKTR closing price on April 20, 2026

Option term 8 years Duration of non-qualified stock options granted

Initial option vesting 1/4 after 1 year First tranche of option vesting schedule

Subsequent option vesting 1/48 monthly Remaining vesting over next three years

RSU vesting cadence 1/4 then 1/16 quarterly RSU vesting over four years post grant

Market Reality Check

Price: $81.89 Vol: Volume 686,423 is below t...

low vol

$81.89 Last Close

Volume Volume 686,423 is below the 20-day average 1,188,618 (relative volume 0.58x) ahead of this filing-style news. low

Technical Shares at $86.46 are trading above the 200-day MA of $53.46, after a 2.21% gain over the prior 24 hours.

Peers on Argus

Peers show mixed moves: PRAX +2.37%, ABUS +2.5%, while SANA -1.21%, QURE -3.63%,...

1 Up

Peers show mixed moves: PRAX +2.37%, ABUS +2.5%, while SANA -1.21%, QURE -3.63%, SYRE -6.3%. With NKTR up 2.21% pre-news and no clear, aligned sector trend, this looks stock-specific rather than a coordinated biotech move.

Common Catalyst Another biotech peer, SYRE, also announced inducement awards today, suggesting routine HR-related equity news across the group rather than a clinical or regulatory sector catalyst.

Historical Context

5 past events · Latest: Apr 28 (Neutral)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Apr 28	Earnings call timing	Neutral	-0.7%	Announcement of date and time for Q1 2026 results and conference call.
Apr 23	Equity offering close	Negative	+0.5%	Closed $373.8M underwritten public offering including full option exercise.
Apr 21	Offering pricing	Negative	-3.3%	Priced upsized $325M equity offering at $92.00 per share with 30-day option.
Apr 20	Proposed offering	Negative	-2.2%	Proposed $250M common stock and pre-funded warrant offering subject to conditions.
Apr 20	Clinical data update	Positive	+18.3%	Reported 52-week Phase 2b REZOLVE-AA data showing improved responses and safety.

Pattern Detected

Recent news has been dominated by equity offerings and positive rezpegaldesleukin data, with generally aligned price reactions except for a slight divergence on the offering close.

Recent Company History

Over the last few weeks, Nektar has issued several material updates. On April 20, it reported positive 52-week Phase 2b REZOLVE-AA data with a 18.25% next-day gain, followed the same day by a proposed $250M equity offering that saw shares fall 2.18%. Subsequent offering pricing on April 21 and closing on April 23 produced modestly negative then slightly positive reactions. An earnings date notice on April 28 drew a small decline. Today’s inducement grants fit into ongoing capital-raising and clinical development activity but are administratively focused.

Market Pulse Summary

This announcement details routine inducement grants under Nektar’s 2025 Inducement Plan, including 2...

Analysis

This announcement details routine inducement grants under Nektar’s 2025 Inducement Plan, including 28,450 stock options at an exercise price of $100.35 and 2,950 RSUs for six new employees. The awards are time-vested over four years, aligning employee incentives with long-term performance. In the broader backdrop of recent equity offerings and positive Phase 2b data, this filing-style news primarily reflects ongoing hiring and compensation practices rather than a change in clinical or financing trajectory.

Key Terms

non-qualified stock options, restricted stock units, nasdaq listing rule 5635(c)(4), exercise price, +1 more

5 terms

non-qualified stock options financial

"granted non-qualified stock options to purchase an aggregate of 28,450 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.

restricted stock units financial

"and 2,950 restricted stock units (RSUs) to six newly-hired employees"

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

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 $100.35"

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, May 1, 2026 /PRNewswire/ -- Nektar Therapeutics (NASDAQ: NKTR) today announced that, on April 20, 2026, the Organization and Compensation Committee of Nektar's Board of Directors granted non-qualified stock options to purchase an aggregate of 28,450 shares of its common stock and 2,950 restricted stock units (RSUs) to six 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 $100.35, which is equal to the closing price of Nektar's common stock on April 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 RSUs vest over four years with 1/4^th of the shares vesting following the one-year anniversary of the employee's grant date and 1/16^th of the shares vesting quarterly thereafter over the next three years, subject to each employee's continued employment with Nektar on the applicable vesting dates. The stock options and RSUs are subject to the terms and conditions of Nektar's 2025 Inducement Plan, and the terms and conditions of the stock option and RSU 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 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 and NKTR-422. 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 and NKTR-422 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 and NKTR-422 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 and NKTR-422 are in clinical or preclinical 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 Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 13, 2026. 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

For Media:

Susan Roberts
LifeSci Communications
202-779-0929
sroberts@lifescicomms.com 

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SOURCE Nektar Therapeutics

FAQ

What equity awards did Nektar (NKTR) grant on April 20, 2026?

Nektar granted non-qualified stock options for 28,450 shares and 2,950 RSUs to six new hires. According to the company, options carry an $100.35 exercise price tied to the April 20, 2026 closing share price and RSUs vest over four years.

What are the vesting terms for the NKTR stock options granted April 20, 2026?

Options vest over four years with 1/4 vesting after one year, then monthly over three years. According to the company, the options also have an eight-year exercise term and vest only with continued employment.

How do the RSU vesting and schedule work for Nektar's April 2026 grants?

RSUs vest over four years with 1/4 after one year and 1/16th quarterly thereafter for three years. According to the company, vesting is subject to each employee's continued employment on applicable vesting dates.

What exercise price and term apply to Nektar's April 20, 2026 option grants (NKTR)?

The option exercise price is $100.35 per share and the term is eight years. According to the company, the exercise price equals the closing price on April 20, 2026 and options follow plan terms and agreements.

Why were these inducement grants made under Nektar's 2025 Inducement Plan (NKTR)?

The grants were made as inducements to newly hired employees under Nasdaq Rule 5635(c)(4). According to the company, the 2025 Inducement Plan is used exclusively for equity awards to recruits not previously employed.