Kala Pharmaceuticals Reports Inducement Grant Under NASDAQ Listing Rule 5635(c)(4)

Rhea-AI Summary

Kala Pharmaceuticals, Inc. (NASDAQ:KALA) announced the granting of non-statutory stock options to 16 new employees as inducement awards outside its 2017 Equity Incentive Plan. A total of 92,000 stock options were granted on July 15, 2021, with an exercise price of $4.01 per share, reflecting the closing price on that date. These options will vest over four years, with 25% vesting after the first year. This move is part of the company's strategy to attract and retain talent in its ongoing development of innovative ocular therapies.

Positive

• Grant of 92,000 stock options to attract new talent.
• Exercise price set at $4.01 per share, aligned with market value.

Negative

• None.

WATERTOWN, Mass., July 19, 2021 (GLOBE NEWSWIRE) -- Kala Pharmaceuticals, Inc. (NASDAQ:KALA), today announced that the Company granted non-statutory stock options to new employees as inducement awards outside the Company’s 2017 Equity Incentive Plan in accordance with NASDAQ Listing Rule 5635(c)(4).

The Company granted stock options to purchase up to an aggregate of 92,000 shares of Kala Pharmaceuticals common stock to sixteen new employees. The stock options were granted on July 15, 2021. The grants were approved by the Compensation Committee and were made as an inducement material to each employee entering into employment with Kala Pharmaceuticals in accordance with NASDAQ Listing Rule 5635(c)(4). The option awards have an exercise price of $4.01 per share, the closing price of Kala Pharmaceuticals’ common stock on July 15, 2021. The options have a ten-year term and vest over four years, with 25% of the original number of shares vesting on the first anniversary of the applicable employee’s new hire date and the remainder vesting in equal monthly installments over the following three years. Vesting of each option is subject to such employee’s continued service with Kala Pharmaceuticals through the applicable vesting dates.

About Kala Pharmaceuticals, Inc.
Kala is a biopharmaceutical company focused on the discovery, development, and commercialization of innovative therapies for diseases of the eye. Kala has applied its AMPPLIFY® mucus-penetrating particle (MPP) Drug Delivery Technology to two ocular therapies, EYSUVIS® (loteprednol etabonate ophthalmic suspension) 0.25% for the short-term (up to two weeks) treatment of signs and symptoms of dry eye disease and INVELTYS® (loteprednol etabonate ophthalmic suspension) 1% for the treatment of post-operative inflammation and pain following ocular surgery. The Company also has a pipeline of pre-clinical development programs targeted to address unmet medical needs, including both front and back of the eye diseases. For more information on Kala, please visit www.kalarx.com.

Investor Contacts:
Jill Steier
jill.steier@kalarx.com
781-810-4086

Hannah Deresiewicz
hannah.deresiewicz@sternir.com
212-362-1200

FAQ

What company granted stock options to new employees on July 15, 2021?

Kala Pharmaceuticals, Inc. (NASDAQ:KALA) granted stock options to new employees on July 15, 2021.

How many stock options were granted by Kala Pharmaceuticals?

Kala Pharmaceuticals granted a total of 92,000 stock options.

What is the exercise price of the stock options granted by KALA?

The exercise price of the stock options granted by Kala Pharmaceuticals is $4.01 per share.

What is the vesting schedule for the stock options at KALA?

The stock options vest over four years, with 25% vesting on the first anniversary of the employee's hire date.