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KalVista Pharmaceuticals Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
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KalVista Pharmaceuticals, Inc. (NASDAQ: KALV) granted four newly-hired employees inducement options to purchase 43,000 shares of KalVista common stock on December 1, 2023. The options have an exercise price of $8.82 per share, one-fourth vest on the one-year anniversary, and the remainder vest in equal monthly installments over the next three years, subject to the new employee’s 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 four newly-hired employees inducement options to purchase an aggregate of 43,000 shares of KalVista common stock on December 1, 2023 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 $8.82 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 is developing sebetralstat as an oral on-demand therapy for HAE attacks and has achieved target enrollment for 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 the treatment for people living with HAE and other diseases.
For more information about KalVista, please visit www.kalvista.com
For more information on the sebetralstat HAE on-demand Phase 3 KONFIDENT study, please visit www.konfidentstudy.com
What did KalVista Pharmaceuticals announce regarding employee inducement options?
KalVista Pharmaceuticals announced that the compensation committee of its board of directors granted four newly-hired employees inducement options to purchase an aggregate of 43,000 shares of KalVista common stock on December 1, 2023.
What is the exercise price of the options granted by KalVista Pharmaceuticals?
The exercise price of the options granted by KalVista Pharmaceuticals is $8.82 per share, which was equal to the closing price of KalVista common stock on the grant date.
How do the options granted by KalVista Pharmaceuticals vest?
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 the new employee’s continued service with the company.
