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KalVista Pharmaceuticals Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
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KalVista Pharmaceuticals announced the granting of inducement options to eight newly-hired employees. The options allow the purchase of an aggregate of 77,000 shares of KalVista common stock at an exercise price of $8.77 per share. The options vest over a four-year period, subject to continued service with the company.
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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 eight newly-hired employees inducement options to purchase an aggregate of 77,000 shares of KalVista common stock on November 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 $8.77 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
KalVista Pharmaceuticals announced the granting of inducement options to newly-hired employees.
How many shares of KalVista common stock can be purchased with the options?
The options allow the purchase of an aggregate of 77,000 shares of KalVista common stock.
What is the exercise price of the options?
The exercise price of the options is $8.77 per share.
How do the options 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.
What are the terms of the stock options?
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.
Who is eligible for the options?
The options were granted to newly-hired employees as inducements for entering into employment with KalVista Pharmaceuticals.
