Zentalis Pharmaceuticals Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
Zentalis Pharmaceuticals, Inc. (Nasdaq: ZNTL) announced on November 1, 2022, the grant of non-qualified stock options for 350,025 shares to four newly hired employees.
Sentiment and the balance of points
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Rhea-AI Summary
Zentalis Pharmaceuticals, Inc. (Nasdaq: ZNTL) announced on November 1, 2022, the grant of non-qualified stock options for 350,025 shares to four newly hired employees. This grant is part of their 2022 Employment Inducement Incentive Award Plan, complying with Nasdaq Listing Rule 5635(c)(4). The options have an exercise price of $25.60 per share, equal to the stock's closing price on the grant date, and will vest over four years. Zentalis focuses on developing small molecule cancer therapeutics, with various oncology candidates in their pipeline.
Positive
- Granting of 350,025 stock options indicates company growth and talent acquisition.
- Stock options are structured to incentivize long-term employee retention.
Negative
- None.
Details
News Market Reaction – ZNTL
The recorded move for ZNTL in the trading session of this news was -4.30%.
Data tracked by StockTitan Argus. Session date unavailable.
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NEW YORK and SAN DIEGO, Nov. 01, 2022 (GLOBE NEWSWIRE) -- Zentalis™ Pharmaceuticals, Inc. (Nasdaq: ZNTL), a clinical-stage biopharmaceutical company focused on discovering and developing clinically differentiated small molecule therapeutics targeting fundamental biological pathways of cancer, today announced that on November 1, 2022, the Compensation Committee of Zentalis’ Board of Directors granted non-qualified stock options to purchase an aggregate of 350,025 shares of the Company’s common stock to four 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 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 such individuals’ entering into employment with Zentalis, pursuant to Nasdaq Listing Rule 5635(c)(4).
The stock options have an exercise price of
About Zentalis Pharmaceuticals
Zentalis™ Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company focused on discovering and developing small molecule therapeutics targeting fundamental biological pathways of cancers. The Company is developing a broad pipeline of potentially best-in-class oncology candidates, all internally discovered, which include ZN-c3, a Wee1 inhibitor for advanced solid tumors, ZN-d5, a BCL-2 inhibitor for hematologic malignancies and related disorders and a heterobifunctional degrader of BCL-xL for solid and hematological malignancies. The Company has licensed ZN-c3, ZN-d5 and ZN-c5 to its joint venture, Zentera Therapeutics, Ltd. to develop and commercialize these candidates in China. Zentalis has operations in both New York and 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.
Investor Contacts:
Adam D. Levy, PhD, MBA
Senior Vice President, Investor Relations
alevy@zentalis.com
Alexandra Roy
Solebury Strategic Communications
aroy@soleburystrat.com
Media Contact:
Julia Deutsch
Solebury Strategic Communications
jdeutsch@soleburystrat.com
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