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

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KalVista Pharmaceuticals, Inc. (NASDAQ: KALV) granted ten newly-hired employees inducement options to purchase 94,000 shares of common stock on May 1, 2024. The options have an exercise price of $12.18 per share and vest over a four-year period. This action was taken 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 ten newly-hired employees inducement options to purchase an aggregate of 94,000 shares of KalVista common stock on May 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 $12.18 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 disclosed positive phase 3 data for the KONFIDENT trial for its oral, on-demand therapy sebetralstat in February 2024. The Company anticipates submitting a new drug application to the U.S. Food and Drug Administration (FDA) for sebetralstat in June 2024 and expects to file for approval in the UK, Europe 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/20240502658624/en/

KalVista Pharmaceuticals, Inc.



Jarrod Aldom

Vice President, Corporate Communications

(201) 705-0254

jarrod.aldom@kalvista.com



Ryan Baker

Head, Investor Relations

(617) 771-5001

ryan.baker@kalvista.com

Source: KalVista Pharmaceuticals, Inc.

FAQ

When were the inducement options granted by KalVista Pharmaceuticals?

KalVista Pharmaceuticals granted the inducement options on May 1, 2024.

How many shares of common stock were included in the inducement options?

The options granted by KalVista Pharmaceuticals allowed for the purchase of 94,000 shares of common stock.

What is the exercise price of the inducement options?

The exercise price for the options was $12.18 per share.

How long is the vesting period for the inducement options?

The options vest over a four-year period, with one-fourth vesting on the one-year anniversary and the remainder vesting monthly over three years.

What is the term of each stock option granted?

Each stock option has a 10-year term.

What rule governs the granting of inducement options by KalVista Pharmaceuticals?

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