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

Rhea-AI Summary

KalVista Pharmaceuticals (NASDAQ: KALV) has granted inducement options to eleven newly-hired employees to purchase a total of 90,000 shares of KalVista common stock. The options, issued on August 1, 2024, have an exercise price of $13.83 per share, matching the closing price on the grant date. The vesting schedule includes 25% after one year, with the remainder vesting in equal monthly installments over three years, subject to continued employment. Each option has a 10-year term and falls under KalVista's Inducement Equity Incentive Plan, complying with Nasdaq Listing Rule 5635(c)(4).

Positive

• Attraction of new talent with stock options as incentives
• Alignment of employee interests with company performance through equity grants

Negative

• Potential dilution of existing shareholders' equity
• Increased share-based compensation expenses

CAMBRIDGE, Mass. & SALISBURY, England--(BUSINESS WIRE)-- KalVista Pharmaceuticals, Inc. (NASDAQ: KALV), today announced that the compensation committee of KalVista’s board of directors granted eleven newly-hired employees inducement options to purchase an aggregate of 90,000 shares of KalVista common stock on August 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 $13.83 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 focused on the development and delivery of oral medicines for diseases with significant unmet need. KalVista announced positive phase 3 data for the KONFIDENT trial for its oral, on-demand therapy sebetralstat in February 2024 and submitted an NDA with the FDA in June 2024. KalVista expects to file for approval in the UK, the European Union, and Japan later in 2024.

For more information about KalVista, please visit www.kalvista.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20240802335240/en/

KalVista Pharmaceuticals, Inc.

Ryan Baker

Head, Investor Relations

(617) 771-5001

ryan.baker@kalvista.com

Source: KalVista Pharmaceuticals, Inc.

FAQ

How many shares of KalVista Pharmaceuticals (KALV) were granted as inducement options on August 1, 2024?

KalVista Pharmaceuticals granted inducement options to purchase an aggregate of 90,000 shares of common stock on August 1, 2024.

What is the exercise price of the inducement options granted by KalVista Pharmaceuticals (KALV)?

The exercise price of the inducement options granted by KalVista Pharmaceuticals is $13.83 per share, which was equal to the closing price of KalVista common stock on the grant date.

What is the vesting schedule for the inducement options granted by KalVista Pharmaceuticals (KALV)?

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 employee's continued service with the company.

How long is the term of the stock options granted by KalVista Pharmaceuticals (KALV)?

Each stock option granted by KalVista Pharmaceuticals has a 10-year term.