Kezar announces inducement grant under Nasdaq listing rule

Kezar Life Sciences, Inc. announced that the Compensation Committee of the company’s Board of Directors granted one employee a nonqualified stock option to purchase 36,000 shares of its common stock with an exercise price of $1.03 per share, which is equal to the closing price of Kezar’s common stock on March 5, 2024, the grant date of the award. The stock option was granted as an inducement award material to the individual entering into employment with Kezar, in accordance with Nasdaq Listing Rule 5635(c)(4).

The stock option will vest over a four-year period, with 25% of the option vesting on the first anniversary of the employee’s start date, and 1/48th of the total shares vesting monthly thereafter, subject to continued employment on each vesting date. The option is subject to the terms and conditions of Kezar’s 2022 Inducement Plan and the stock option agreement covering the grant.
MB Bureau