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

Rhea-AI Summary

KalVista Pharmaceuticals has granted inducement options to purchase 19,000 shares of common stock to four new employees as part of their hiring strategy. The options, issued on February 1, 2022, have an exercise price of $12.72 per share, matching the stock's closing price on the grant date. The vesting schedule allows for one-fourth of the options to vest one year after the grant, followed by monthly vesting over three years. KalVista focuses on developing small molecule protease inhibitors for unmet medical needs, particularly in hereditary angioedema and diabetic macular edema.

Positive

• Inducement options granted to four new employees may enhance recruitment and retention efforts.
• Exercise price of $12.72 aligns with current market value, minimizing dilution risk.

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 four newly-hired employees inducement options to purchase an aggregate of 19,000 shares of KalVista common stock on February 1, 2022 as inducements material to each 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 $12.72 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/20220202005184/en/

KalVista Pharmaceuticals, Inc.

Ben Palleiko

CBO & CFO

857-999-0890

investors@kalvista.com

Source: KalVista Pharmaceuticals, Inc.

FAQ

What are the details of KalVista Pharmaceuticals' stock options grant on February 1, 2022?

KalVista Pharmaceuticals granted options to purchase 19,000 shares at an exercise price of $12.72 to four newly hired employees.

How do the stock options vest for employees hired by KalVista Pharmaceuticals?

One-fourth of the options vest on the one-year anniversary, with the remaining options vesting monthly over three years.

What is the significance of the inducement options granted by KalVista Pharmaceuticals?

Inducement options help attract and retain talent by providing financial incentives tied to company stock.