Zentalis Pharmaceuticals Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
Rhea-AI Summary
Zentalis Pharmaceuticals (Nasdaq: ZNTL) announced that its Compensation Committee has granted stock options to two newly hired employees on January 2, 2025. The grants include options to purchase 45,000 shares of common stock at an exercise price of $3.00 per share, matching the closing price on Nasdaq Global Market on the grant date.
The options were granted under the company's 2022 Employment Inducement Incentive Award Plan, following Nasdaq Listing Rule 5635(c)(4). These 10-year term options will vest over four years, with 25% vesting after the first year and the remaining 75% vesting monthly over the following three years, contingent on continued employment.
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News Market Reaction
On the day this news was published, ZNTL gained 8.00%, reflecting a notable positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
SAN DIEGO, Jan. 02, 2025 (GLOBE NEWSWIRE) -- Zentalis® Pharmaceuticals, Inc. (Nasdaq: ZNTL), a clinical-stage biopharmaceutical company discovering and developing clinically differentiated small molecule therapeutics targeting fundamental biological pathways of cancers, today announced that on January 2, 2025, the Compensation Committee of Zentalis’ Board of Directors granted non-qualified stock options to purchase an aggregate of 45,000 shares of the Company’s common stock to two newly hired employees. The stock options were granted under the Zentalis Pharmaceuticals, Inc. 2022 Employment Inducement Incentive Award Plan (2022 Inducement Plan) as an inducement material to each 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 is 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 discovering and developing clinically differentiated small molecule therapeutics targeting fundamental biological pathways of cancers. The Company’s lead product candidate, azenosertib (ZN-c3), is a potentially first-in-class and best-in-class WEE1 inhibitor for advanced solid tumors. Azenosertib is being evaluated as a monotherapy and in combination across multiple 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 and in combination with several chemotherapy backbones. As part of its azenosertib clinical development program, the Company is exploring enrichment strategies targeting tumors of high genomic instability, such as Cyclin E1 positive tumors, homologous recombination deficient tumors and tumors with oncogenic driver mutations. The Company is also leveraging its extensive experience and capabilities across cancer biology and medicinal chemistry to advance its research on protein degraders. Zentalis has operations in San Diego.
For more information, please visit www.zentalis.com. Follow Zentalis on Twitter at @ZentalisP and on LinkedIn at www.linkedin.com/company/zentalis-pharmaceuticals.
ZENTALIS® and its associated logo are trademarks of Zentalis and/or its affiliates. All website addresses and other links in this press release are for information only and are not intended to be an active link or to incorporate any website or other information into this press release.
Contacts:
Elizabeth Hickin
Vice President, Investor Relations
ehickin@zentalis.com
FAQ
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