Zentalis Pharmaceuticals Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
Rhea-AI Summary
Zentalis Pharmaceuticals (ZNTL) has announced new equity grants under its 2022 Employment Inducement Incentive Award Plan. The company granted one newly hired employee 50,000 non-qualified stock options at an exercise price of $1.92 per share and 25,000 restricted stock units.
The stock options have a 10-year term with a four-year vesting schedule: 25% vesting after the first year and the remaining 75% vesting monthly over three years. The restricted stock units will vest in 25% increments annually over four years. Both grants are contingent on continued employment with Zentalis.
These grants were made in accordance with Nasdaq Listing Rule 5635(c)(4) as employment inducement awards for individuals not previously employed by Zentalis, a clinical-stage biopharmaceutical company developing WEE1 inhibitor treatments for ovarian cancer and other tumor types.
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News Market Reaction
On the day this news was published, ZNTL declined 2.60%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
SAN DIEGO, March 03, 2025 (GLOBE NEWSWIRE) -- Zentalis® Pharmaceuticals, Inc. (Nasdaq: ZNTL), a clinical-stage biopharmaceutical company developing a potentially first-in-class and best-in-class WEE1 inhibitor for patients with ovarian cancer and other tumor types, today announced that on March 3, 2025, the Compensation Committee of Zentalis’ Board of Directors granted non-qualified stock options to purchase an aggregate of 50,000 shares of the Company’s common stock and 25,000 restricted stock units to one newly hired employee. The stock options and restricted stock units were granted under the Zentalis Pharmaceuticals, Inc. 2022 Employment Inducement Incentive Award Plan (2022 Inducement Plan) as an inducement material to such individual’s entering into employment with Zentalis in accordance with Nasdaq Listing Rule 5635(c)(4).
The 2022 Inducement Plan is used exclusively for the grant of equity awards to individuals who were not previously employees of Zentalis, or following a bona fide period of non-employment, as an inducement material to each such individual’s entering into employment with Zentalis, pursuant to Nasdaq Listing Rule 5635(c)(4).
The stock options have an exercise price of
Vesting of the stock options and the restricted stock units are subject to the employee’s continued service to Zentalis on each vesting date.
About Zentalis Pharmaceuticals
Zentalis® Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company developing azenosertib (ZN-c3), a potentially first-in-class and best-in-class WEE1 inhibitor for patients with Cyclin E1+ platinum-resistant ovarian cancer (PROC). Azenosertib is being evaluated as a monotherapy and in combination across multiple tumor types in clinical trials and has broad franchise potential. In clinical trials, azenosertib has been well tolerated and has demonstrated anti-tumor activity as a single agent across multiple tumor types. The Company is also leveraging its extensive experience and capabilities to translate its science to advance research on additional areas of opportunity for azenosertib outside PROC. Zentalis has operations in San Diego.
For more information, please visit www.zentalis.com. Follow Zentalis on X/Twitter at @ZentalisP and on LinkedIn at www.linkedin.com/company/zentalis-pharmaceuticals.
Contacts:
Haibo Wang – Chief Business Officer
Ron Moldaver – Investor Relations
ir@zentalis.com
FAQ
What equity compensation did Zentalis (ZNTL) grant to its new employee in March 2025?
What is the vesting schedule for ZNTL's March 2025 stock option grants?
How will Zentalis's (ZNTL) restricted stock units vest under the March 2025 grant?
What is the exercise price of ZNTL's March 2025 stock option grants?
