Kezar Director Cooper Receives New Stock Incentives Amid Biotech Market Changes

Rhea-AI Filing Summary

Director Graham K. Cooper of Kezar Life Sciences received a stock option grant on June 18, 2025, as reported in this Form 4 filing. The transaction details include:

• Granted 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

This grant represents standard director compensation and was filed within the required reporting timeframe. The options provide Cooper with the right to purchase Kezar shares at a fixed price over the next decade, aligning his interests with shareholders' long-term value creation.

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

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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^*

COOPER GRAHAM K

(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.
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FAQ

What stock options did KZR director Graham Cooper receive in June 2025?

Graham Cooper received a stock option grant for 5,000 shares of KZR common stock on June 18, 2025, with an exercise price of $4.46 per share. The options will fully vest on June 18, 2026, and expire on June 17, 2035.

When do Graham Cooper's KZR stock options vest?

The stock options granted to Graham Cooper will vest 100% on June 18, 2026, subject to his continued service with Kezar Life Sciences through that date.

What is the exercise price of KZR's June 2025 director stock option grant?

The stock options were granted with an exercise price of $4.46 per share.

Who filed Form 4 for KZR on June 28, 2025?

The Form 4 was filed for Graham K. Cooper, who serves as a Director of Kezar Life Sciences (KZR). The form was signed by Marc Belsky as Attorney-in-Fact on June 23, 2025.

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

The stock options granted to Director Graham Cooper will expire on June 17, 2035, ten years after the grant date.