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

Rhea-AI Summary

KalVista Pharmaceuticals (NASDAQ: KALV) announced the granting of inducement stock options to a newly hired employee. A total of 2,000 shares were issued at an exercise price of $5.10 per share, equivalent to the closing price on November 1, 2022. The options will vest over four years, with 25% vesting after one year and the remainder in monthly increments. This move aligns with Nasdaq Listing Rule 5635(c)(4) and aims to incentivize the new employee's ongoing contribution to the company.

Positive

• Granting of 2,000 inducement stock options to a new employee, promoting retention and motivation.

Negative

• Limited impact on overall financial performance or growth prospects; the news lacks significant business developments or financial metrics.

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 2,000 shares of KalVista common stock on November 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 $5.10 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 HAE attacks and is enrolling the Phase 3 KONFIDENT clinical trial. In addition, KalVista’s oral Factor XIIa inhibitor program represents a new generation of therapies that may further improve treatment for people living with HAE. 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/20221102005290/en/

KalVista Pharmaceuticals, Inc.

Jarrod Aldom

Vice President, Corporate Communications

(201) 705-0254

jarrod.aldom@kalvista.com

Source: KalVista Pharmaceuticals, Inc.

FAQ

What is the stock option grant for KalVista Pharmaceuticals (KALV)?

KalVista granted inducement options to purchase 2,000 shares at $5.10 per share.

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

The stock options were granted on November 1, 2022.

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

The options vest 25% after one year, with the remainder vesting in equal monthly installments over three years.

How does the stock option grant impact KalVista Pharmaceuticals (KALV)?

The grant aims to motivate the new employee, but it has limited immediate impact on financial performance.