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

Rhea-AI Summary

KalVista Pharmaceuticals (NASDAQ: KALV) announced the grant of inducement options for 23,000 shares to four new employees on January 3, 2022. The options have an exercise price of $13.91 per share, matching the closing stock price on the grant date. One-fourth of the options will vest after one year, with the remaining vesting monthly over three years, contingent on continued employment. This issuance follows Nasdaq Listing Rule 5635(c)(4), designed to incentivize new hires as KalVista continues its focus on developing therapies for unmet medical needs.

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 23,000 shares of KalVista common stock on January 3, 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 $13.91 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.

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KalVista Pharmaceuticals, Inc.

Ben Palleiko

CBO & CFO

857-999-0890

ben.palleiko@kalvista.com

Source: KalVista Pharmaceuticals, Inc.

FAQ

What options were granted by KalVista Pharmaceuticals on January 3, 2022?

KalVista Pharmaceuticals granted inducement options to purchase 23,000 shares to four new employees.

What is the exercise price for the inducement options granted by KALV?

The exercise price for the inducement options is $13.91 per share.

How do the options granted to new employees vest at KalVista?

One-fourth of the options vest on the one-year anniversary, with the remainder vesting in equal monthly installments over three years.

What is the purpose of the inducement options granted on January 3, 2022?

The options serve to incentivize new employees joining KalVista Pharmaceuticals.

Which Nasdaq rule governs the options granted by KalVista?

The options were granted in accordance with Nasdaq Listing Rule 5635(c)(4).