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

Rhea-AI Summary

KalVista Pharmaceuticals, Inc. (NASDAQ: KALV) announced the grant of inducement stock options to two newly-hired employees, totaling 8,000 shares with an exercise price of $9.90 per share. This price corresponds to the stock's closing price on July 1, 2022. The options vest over four years, beginning with a one-year cliff, and have a 10-year term.

KalVista focuses on developing oral protease inhibitors for unmet medical needs, targeting conditions like hereditary angioedema and diabetic macular edema.

Positive

• Inducement options granted for a total of 8,000 shares.
• Options exercise price set at $9.90, aligned with market price.

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 two newly-hired employees inducement options to purchase an aggregate of 8,000 shares of KalVista common stock on July 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 $9.90 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/20220705005688/en/

KalVista Pharmaceuticals, Inc.

Jarrod Aldom

Vice President, Corporate Communications

(201) 705-0254

jarrod.aldom@kalvista.com

Source: KalVista Pharmaceuticals, Inc.

FAQ

What stock options did KalVista Pharmaceuticals grant?

KalVista Pharmaceuticals granted 8,000 inducement stock options to two newly-hired employees.

What is the exercise price of KalVista's stock options?

The exercise price for the stock options is $9.90 per share.

When were the stock options granted by KalVista Pharmaceuticals?

The stock options were granted on July 1, 2022.

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

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

What is KalVista Pharmaceuticals focused on developing?

KalVista Pharmaceuticals focuses on developing oral small molecule protease inhibitors for diseases with significant unmet needs.