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KalVista Pharmaceuticals Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
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KalVista Pharmaceuticals, Inc. granted seven newly-hired employees inducement options to purchase 43,000 shares of KalVista common stock. The options have an exercise price of $14.14 per share and vest over a four-year period, subject to continued service.
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CAMBRIDGE, Mass. & SALISBURY, England--(BUSINESS WIRE)--
KalVista Pharmaceuticals, Inc. (NASDAQ: KALV), today announced that the compensation committee of KalVista’s board of directors granted seven newly-hired employees inducement options to purchase an aggregate of 43,000 shares of KalVista common stock on March 1, 2024 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 $14.14 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 disclosed positive phase 3 data for the KONFIDENT trial for its oral, on-demand therapy sebetralstat in February 2024. The Company anticipates submitting a new drug application to the U.S. FDA for sebetralstat in the first half of 2024 and expects to file for approval in Europe and Japan later in 2024. In addition, KalVista’s oral Factor XIIa inhibitor program represents a new generation of therapies that may further improve the treatment for people living with HAE and other diseases.
For more information about KalVista, please visit www.kalvista.com
How many shares of KalVista common stock were granted to newly-hired employees?
Seven newly-hired employees were granted options to purchase an aggregate of 43,000 shares of KalVista common stock.
What is the exercise price per share for the options granted?
The exercise price per share for the options granted is $14.14.
How do the options vest for the newly-hired employees?
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, subject to continued service.
