Kezar Announces Inducement Grant Under NASDAQ Listing Rule 5635(c)(4)

On July 10, 2024 Kezar Life Sciences, Inc. (Nasdaq: KZR), a clinical-stage biotechnology company developing novel small molecule therapeutics to treat unmet needs in immune-mediated diseases and cancer, reported that the Compensation Committee of the company’s Board of Directors granted one employee a nonqualified stock option to purchase 72,000 shares of its common stock with an exercise price of $0.55 per share, which is equal to the closing price of Kezar’s common stock on July 8, 2024, the grant date of the award (Press release, Kezar Life Sciences, JUL 10, 2024, View Source [SID1234644780]). 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).

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The stock option will vest over a four-year period, with 25% of each 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.