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

Rhea-AI Summary

KalVista Pharmaceuticals recently granted inducement stock options to five new employees, totaling 18,000 shares at an exercise price of $16.83 per share, aligning with the company's stock price on the grant date of September 1, 2022. The options will vest over four years, starting with one-fourth on the anniversary of the commencement date. This initiative adheres to Nasdaq Listing Rule 5635(c)(4), reflecting KalVista's focus on growth and talent acquisition in the pharmaceutical sector.

Positive

• Inducement options granted to five new employees enhance talent acquisition.
• The exercise price aligns with the market value, indicating a fair grant.

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 five newly-hired employees inducement options to purchase an aggregate of 18,000 shares of KalVista common stock on September 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 $16.83 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 oral, 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 sebetralstat as an oral on-demand therapy for acute HAE attacks and is enrolling the Phase 3 KONFIDENT clinical trial. 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/20220902005066/en/

KalVista Pharmaceuticals, Inc.

Jarrod Aldom

Vice President, Corporate Communications

(201) 705-0254

jarrod.aldom@kalvista.com

 

Source: KalVista Pharmaceuticals, Inc.

FAQ

What employee stock options did KalVista Pharmaceuticals grant on September 1, 2022?

KalVista granted inducement options for 18,000 shares at an exercise price of $16.83.

How do the stock options vest for new employees at KalVista?

Options vest one-fourth on the anniversary date, with the remainder vesting monthly over three years.

What is the significance of Nasdaq Listing Rule 5635(c)(4) for KalVista?

This rule allows KalVista to grant stock options as an employment inducement.

How many shares of common stock are involved in the recent stock option grant by KalVista?

The recent stock option grant involves an aggregate of 18,000 shares.

What is the current trading symbol for KalVista Pharmaceuticals?

KalVista Pharmaceuticals is traded under the symbol KALV on NASDAQ.