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 options to purchase 5,000 shares to a newly-hired employee on March 1, 2022. The options have an exercise price of $15.94 per share, equal to the stock's closing price on the grant date. One-fourth of the options will vest on the one-year anniversary, with the remainder vesting in monthly installments over three years, contingent on continued employment. KalVista focuses on small molecule protease inhibitors for unmet medical needs, including therapies for hereditary angioedema and diabetic macular edema.

Positive

• Granting of inducement options may enhance employee retention and motivation.
• The exercise price reflects the stock's closing price, indicating no immediate dilution.

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 one newly-hired employee inducement options to purchase an aggregate of 5,000 shares of KalVista common stock on March 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 $15.94 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/20220303005989/en/

KalVista Pharmaceuticals, Inc.

Ben Palleiko

CBO & CFO

857-999-0890

investors@kalvista.com

Source: KalVista Pharmaceuticals, Inc.

FAQ

What are the inducement options granted by KalVista Pharmaceuticals?

On March 1, 2022, KalVista Pharmaceuticals granted inducement options to a new employee to purchase 5,000 shares at an exercise price of $15.94.

What is the vesting schedule for the options granted to the new employee at KalVista?

One-fourth of the options vest on the one-year anniversary of the vesting commencement date, with the rest vesting in monthly installments over the following three years.

What does KalVista Pharmaceuticals focus on?

KalVista Pharmaceuticals specializes in developing small molecule protease inhibitors for diseases like hereditary angioedema and diabetic macular edema.

What is the stock symbol for KalVista Pharmaceuticals?

The stock symbol for KalVista Pharmaceuticals is KALV.