KalVista reports inducement grants under Nasdaq listing rule

KalVista Pharmaceuticals announced that the compensation committee of KalVista’s board of directors granted twelve newly-hired employees inducement options to purchase an aggregate of 84,000 shares of KalVista common stock on July 1, 2024 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 $11.89 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.