Zentalis Pharmaceuticals, Inc. Announces Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Zentalis Pharmaceuticals (Nasdaq: ZNTL) announced on August 1, 2022, that its Compensation Committee granted non-qualified stock options for 290,500 shares to new General Counsel Andrea Paul. This grant is part of the 2022 Employment Inducement Incentive Award Plan, aimed at attracting non-employee talent. The options have an exercise price of $28.82, equal to the stock's closing price on the grant date, a 10-year term, and will vest over four years contingent on continued employment.

Positive

• Granting of 290,500 stock options to attract key personnel.
• Exercise price of options set at $28.82, aligning with market value.

Negative

• None.

NEW YORK and SAN DIEGO, Aug. 01, 2022 (GLOBE NEWSWIRE) -- Zentalis Pharmaceuticals, Inc. (Nasdaq: ZNTL), a clinical-stage biopharmaceutical company focused on discovering and developing small molecule therapeutics targeting fundamental biological pathways of cancers, today announced that on August 1, 2022, the Compensation Committee of Zentalis’ Board of Directors granted non-qualified stock options to purchase an aggregate of 290,500 shares of its common stock to Andrea Paul, who joined Zentalis as its General Counsel and Corporate Secretary. The stock options were granted under the Zentalis Pharmaceuticals, Inc. 2022 Employment Inducement Incentive Award Plan (the “2022 Inducement Plan”) as an inducement material to Ms. Paul’s entering into employment with Zentalis in accordance with Nasdaq Listing Rule 5635(c)(4).

The 2022 Inducement Plan is used exclusively for the grant of equity awards to individuals who were not previously employees of Zentalis, or following a bona fide period of non-employment, as an inducement material to such individuals’ entering into employment with Zentalis, pursuant to Nasdaq Listing Rule 5635(c)(4).

The stock options have an exercise price of $28.82 per share, which is equal to the closing price of Zentalis’ common stock on the Nasdaq Global Market on the date of grant. The stock options have a 10-year term and will vest over four years, with 25% of the options vesting on the first anniversary of the vesting commencement date and the remaining portion of the options vesting in equal monthly installments over the three years thereafter, subject to Ms. Paul’s continued service with Zentalis on each vesting date.

About Zentalis Pharmaceuticals, Inc.
Zentalis Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company focused on discovering and developing small molecule therapeutics targeting fundamental biological pathways of cancers. The Company is developing a broad pipeline of potentially best-in-class oncology candidates, all internally discovered, which include ZN-c3, a Wee1 inhibitor for advanced solid tumors, ZN-d5, a BCL-2 inhibitor for hematologic malignancies and related disorders, ZN-c5, an oral selective estrogen receptor degrader (SERD) for ER+/HER2- breast cancer, ZN-e4, an epidermal growth factor receptor (EGFR) inhibitor for non-small cell lung carcinoma (NSCLC) and a heterobifunctional degrader of BCL-xL for solid and hematological malignancies. The Company has licensed ZN-c3, ZN-d5 and ZN-c5 to its joint venture, Zentera Therapeutics, Ltd., to develop and commercialize these candidates in China. Zentalis has operations in both New York and San Diego.

For more information, please visit www.zentalis.com. Follow Zentalis on Twitter at @ZentalisP and on LinkedIn at www.linkedin.com/company/zentalis-pharmaceuticals.

Investor Contact:

Alexandra Roy
Solebury Trout
aroy@soleburytrout.com 

Media Contact:

Julia Deutsch
Solebury Trout
jdeutsch@soleburytrout.com 

FAQ

What stock options were granted by Zentalis Pharmaceuticals on August 1, 2022?

Zentalis Pharmaceuticals granted non-qualified stock options to purchase 290,500 shares to Andrea Paul.

What is the exercise price of the stock options granted by ZNTL?

The exercise price of the stock options is $28.82 per share.

What is the vesting schedule for the stock options granted by Zentalis?

The stock options will vest over four years, with 25% vesting after one year and the remainder vesting in equal monthly installments.