KalVista Pharmaceuticals Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

KalVista Pharmaceuticals, Inc. (NASDAQ: KALV) announced the granting of inducement options to a newly-hired employee, allowing the purchase of 7,000 shares of common stock at an exercise price of $15.00 per share. This price matches the company’s closing stock price on the grant date of April 1, 2022. The options will vest quarterly over four years, contingent on the employee’s continued service. This grant adheres to Nasdaq Listing Rule 5635(c)(4), reflecting KalVista's commitment to attracting talent.

Positive

• Inducement options granted to a new employee for 7,000 shares, supporting talent acquisition.
• Options priced at $15.00, equal to the stock's closing price, ensuring alignment with market values.

Negative

• None.

CAMBRIDGE, Mass. & SALISBURY, England--(BUSINESS WIRE)-- KalVista Pharmaceuticals, Inc. (NASDAQ: KALV), today announced that the compensation committee of KalVista’s board of directors granted one newly-hired employee inducement options to purchase an aggregate of 7,000 shares of KalVista common stock on April 1, 2022 as inducement material to such employee entering into employment with KalVista. The options were granted in accordance with Nasdaq Listing Rule 5635(c)(4).

The options have an exercise price of $15.00 per share, which was equal to the closing price of KalVista common stock on the grant date. One-fourth of the options vest on the one-year anniversary of the vesting commencement date and the remainder vest in equal monthly installments over the next three years, in each case subject to the new employee’s continued service with the company. Each stock option has a 10-year term and is subject to the terms and conditions of KalVista’s Inducement Equity Incentive Plan and a stock option agreement covering the grant.

About KalVista Pharmaceuticals, Inc.
KalVista Pharmaceuticals, Inc. is a pharmaceutical company focused on the discovery, development, and commercialization of small molecule protease inhibitors for diseases with significant unmet need. KalVista has developed a proprietary portfolio of novel, small molecule plasma kallikrein inhibitors initially targeting hereditary angioedema (HAE) and diabetic macular edema (DME). KalVista is developing KVD900 as an oral on-demand therapy for acute HAE attacks, which completed a Phase 2 efficacy trial in February 2021. KVD824 is in development for prophylactic treatment of HAE with the Phase 2 KOMPLETE clinical trial underway. In addition, KalVista’s oral Factor XIIa inhibitor program represents a new generation of therapies that may further improve the treatment of HAE for patients. In DME, an intravitreally administered plasma kallikrein inhibitor, called KVD001, has completed a Phase 2 clinical trial.

For more information, please visit www.kalvista.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220404005265/en/

KalVista Pharmaceuticals, Inc.

Ben Palleiko

CBO & CFO

857-999-0890

investors@kalvista.com

Source: KalVista Pharmaceuticals, Inc.

FAQ

What is the recent news about KalVista Pharmaceuticals (KALV)?

KalVista Pharmaceuticals announced the granting of inducement options to a new employee to purchase 7,000 shares at $15.00 each.

When were the options granted for KalVista Pharmaceuticals (KALV)?

The options were granted on April 1, 2022.

What is the vesting schedule for the options granted by KalVista Pharmaceuticals (KALV)?

The options vest one-fourth on the one-year anniversary and the remainder monthly over three years.

How many shares can the new employee purchase from KalVista Pharmaceuticals (KALV)?

The new employee can purchase an aggregate of 7,000 shares.

What is the significance of the options granted to the new employee at KalVista Pharmaceuticals (KALV)?

The options are part of KalVista's strategy to attract and retain talent, in compliance with Nasdaq Listing Rule 5635(c)(4).