[Form 4] Kezar Life Sciences, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Elizabeth Garner, Director at Kezar Life Sciences (KZR), received a stock option grant on June 18, 2025. The derivative securities 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 Form 4 filing represents a standard director compensation equity grant. The options provide Garner with the right to purchase company shares at a fixed price, aligning her interests with shareholders over the long term. The one-year cliff vesting schedule incentivizes retention and continued service on the board.

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^*

Garner Elizabeth

(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 Elizabeth Garner at KZR on June 18, 2025?

Elizabeth Garner was granted 5,000 stock options with an exercise price of $4.46 per share. These options represent the right to buy KZR common stock and were granted on June 18, 2025 with an expiration date of June 17, 2035.

What is the vesting schedule for Elizabeth Garner's KZR stock options granted in June 2025?

The stock options will vest 100% on June 18, 2026, subject to Elizabeth Garner continuing to provide service through that date. This represents a one-year cliff vesting schedule.

What is Elizabeth Garner's role at Kezar Life Sciences (KZR)?

According to the Form 4 filing, Elizabeth Garner serves as a Director on the Board of Kezar Life Sciences (KZR). This is indicated by the 'X' marked in the Director box under the Relationship of Reporting Person(s) to Issuer section.

How many KZR derivative securities does Elizabeth Garner own after the June 2025 transaction?

Following the reported transaction, Elizabeth Garner beneficially owns 5,000 derivative securities (stock options) of KZR directly. This is shown in column 9 of Table II in the Form 4 filing.

What was the total value of KZR stock options granted to Elizabeth Garner in this Form 4?

The Form 4 shows that Elizabeth Garner received stock options with a listed price of $0 (grant price), though these options give her the right to purchase 5,000 shares of KZR common stock at an exercise price of $4.46 per share.