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 five newly-hired employees. The compensation committee approved options to purchase 36,000 shares of common stock at an exercise price of $10.27 per share, matching the closing price on December 2, 2024. The options vest over four years, with 25% vesting after one year and the remainder vesting monthly over three years, contingent on continued employment. These 10-year term options were granted under KalVista's Inducement Equity Incentive Plan in accordance with Nasdaq Listing Rule 5635(c)(4).

CAMBRIDGE, Mass. & SALISBURY, England--(BUSINESS WIRE)-- KalVista Pharmaceuticals, Inc. (NASDAQ: KALV), today announced that the compensation committee of KalVista’s board of directors granted five newly-hired employees inducement options to purchase an aggregate of 36,000 shares of KalVista common stock on December 2, 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 $10.27 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 global pharmaceutical company whose mission is to develop and deliver life-changing oral medicines for people affected by rare diseases with significant unmet needs. Sebetralstat, our novel, investigational candidate for the oral, on-demand treatment of hereditary angioedema, is under regulatory review by the FDA with a PDUFA goal date of June 17, 2025. In addition, we have completed Marketing Authorization Application (MAA) submissions for sebetralstat to the European Medicines Agency and the United Kingdom, Switzerland, Australia, and Singapore.

For more information about KalVista, please visit www.kalvista.com or follow on social media at @KalVista and LinkedIn.

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KalVista Pharmaceuticals, Inc.

Media:

Jenn Snyder

Vice President, Corporate Affairs

(857) 356-0479

jennifer.snyder@kalvista.com



Investors:

Ryan Baker

Head, Investor Relations

(617) 771-5001

ryan.baker@kalvista.com

Source: KalVista Pharmaceuticals, Inc.

FAQ

How many shares were included in KalVista Pharmaceuticals (KALV) December 2024 inducement grants?

KalVista Pharmaceuticals granted options to purchase 36,000 shares of common stock to five newly-hired employees.

What is the exercise price for KALV's December 2024 inducement stock options?

The exercise price for the inducement stock options is $10.27 per share, equal to KalVista's closing price on December 2, 2024.

What is the vesting schedule for KALV's December 2024 inducement options?

The options vest 25% after one year, with the remaining 75% vesting in equal monthly installments over the following three years, subject to continued employment.