Kezar Sciences Board Member Shows Long-term Commitment with New Stock Options

Rhea-AI Filing Summary

Kezar Life Sciences Director Michael Kauffman received a stock option grant on June 18, 2025, according to a Form 4 filing. The derivative security details include:

• Grant of 5,000 stock options to purchase common stock
• Exercise price set at $4.46 per share
• Options will vest 100% on June 18, 2026, subject to continued service
• Options expire on June 17, 2035

The transaction represents a standard director compensation grant. Kauffman holds the options directly, with no indirect beneficial ownership reported. The filing was signed by Marc Belsky as attorney-in-fact on June 23, 2025.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Kauffman Michael

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Stock Option (right to buy)	5,000	$0.00	--

Holdings After Transaction: Stock Option (right to buy) — 5,000 shares (Direct)

Footnotes (1)

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Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Kauffman Michael

(Last) (First) (Middle)

C/O KEZAR LIFE SCIENCES, INC.

4000 SHORELINE COURT, SUITE 300

(Street)

SOUTH SAN FRANCISCO CA 94080

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Kezar Life Sciences, Inc. [ KZR ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
06/18/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (right to buy)	$4.46	06/18/2025		A		5,000		(1)	06/17/2035	Common Stock	5,000	$0	5,000	D

Explanation of Responses:

1. One-hundred percent (100%) of the shares subject to the option shall vest on 6/18/2026, subject to Reporting Person continuing to provide service through such date.

	/s/ Marc Belsky, Attorney-in-Fact	06/23/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What stock options did KZR director Michael Kauffman receive in June 2025?

Michael Kauffman received 5,000 stock options for KZR common stock on June 18, 2025, with an exercise price of $4.46 per share. These options will fully vest on June 18, 2026, and expire on June 17, 2035.

When do Michael Kauffman's KZR stock options vest?

The stock options granted to Michael Kauffman will vest 100% on June 18, 2026, provided he continues to provide service through that date. This represents a one-year cliff vesting schedule.

What is the exercise price of KZR stock options granted to director Kauffman?

The stock options were granted with an exercise price of $4.46 per share. These options give Kauffman the right to buy KZR common stock at this price until the expiration date of June 17, 2035.

Who filed the Form 4 for KZR's insider trading activity in June 2025?

The Form 4 was filed on behalf of Michael Kauffman, who serves as a Director of Kezar Life Sciences, Inc. The form was signed by Marc Belsky as Attorney-in-Fact on June 23, 2025.