Kezar Director Shows Long-term Commitment with 10-Year Stock Option Grant

Rhea-AI Filing Summary

Form 4 Filing Details: Micki Klearman, Director at Kezar Life Sciences (KZR), received a stock option grant on June 18, 2025. The transaction involves the acquisition of 5,000 stock options with the following key terms:

• Exercise price set at $4.46 per share
• Options expire on June 17, 2035
• 100% vesting scheduled for June 18, 2026, contingent on continued service
• Underlying security is Common Stock

This Form 4 filing, signed by Marc Belsky as Attorney-in-Fact on June 23, 2025, represents a standard director compensation equity grant. The options provide Klearman with the right to purchase 5,000 shares of Kezar Life Sciences common stock upon vesting, aligning the director's interests with those of shareholders through long-term equity ownership potential.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Klearman Micki

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^*

Klearman Micki

(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 were granted to Micki Klearman at KZR on June 18, 2025?

Micki Klearman was granted 5,000 stock options with an exercise price of $4.46 per share. These options are exercisable until June 17, 2035 and will fully vest on June 18, 2026, subject to continued service.

What is the vesting schedule for KZR director Micki Klearman's June 2025 stock options?

The stock options granted to Micki Klearman have a single vesting date - 100% of the 5,000 shares will vest on June 18, 2026, provided the director continues to provide service through that date.

What position does Micki Klearman hold at Kezar Life Sciences (KZR)?

According to the Form 4 filing, Micki Klearman serves as a Director at Kezar Life Sciences (KZR), as indicated by the 'X' marked in the Director box under the Relationship of Reporting Person(s) to Issuer section.

What is the expiration date for KZR's stock options granted in June 2025?

The stock options granted on June 18, 2025, have an expiration date of June 17, 2035, giving them a 10-year term from the date of grant.

How much did Micki Klearman pay for the KZR stock options granted in June 2025?

According to the Form 4 filing, the stock options were granted at a price of $0, though they have an exercise price of $4.46 per share if Klearman chooses to exercise them after vesting.