KalVista Pharmaceuticals announces inducement grants to four new employees pursuant to Nasdaq Listing Rule 5635(c)(4)
5 January 2022 -

Pharmaceutical company KalVista Pharmaceuticals Inc (NASDAQ:KALV) said on Tuesday that the board of directors' compensation committee awarded four new employees with inducement options to purchase its common stock under Nasdaq Listing Rule 5635(c)(4).

On the grant date as of 3 January 2022, the four newly-hired employees received the inducement options to purchase an aggregate of 23,000 shares of common stock from the company for entering into employment.

The options have an exercise price of USD13.91 per share, which was equal to the closing price of the company's common stock on the grant date. Each stock option has a ten year term and is subject to the terms and conditions of its stock option agreement covering the grant.

Subject to the new employee's continued service with the company, 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.