Zentalis Pharmaceuticals Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
December 01 2023 - 5:39PM
Zentalis® Pharmaceuticals, Inc. (Nasdaq: ZNTL), a clinical-stage
biopharmaceutical company discovering and developing clinically
differentiated small molecule therapeutics targeting fundamental
biological pathways of cancer, today announced that on December 1,
2023, the Compensation Committee of Zentalis’ Board of Directors
granted non-qualified stock options to purchase an aggregate of
42,000 shares of the Company’s common stock and 28,000 restricted
stock units to one newly hired employee. The stock options and
restricted stock units were granted under the Zentalis
Pharmaceuticals, Inc. 2022 Employment Inducement Incentive Award
Plan (2022 Inducement Plan) as an inducement material to such
individual’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 $11.34 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 75% of the options vesting in
equal monthly installments over the three years thereafter. The
restricted stock units will vest over four years, with 25% of the
restricted stock units vesting on each of the first, second, third
and fourth anniversaries of the vesting commencement date.
Vesting of the stock options and the restricted stock units is
subject to the employee’s continued service to Zentalis on each
vesting date.
About Zentalis PharmaceuticalsZentalis®
Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company
discovering and developing clinically differentiated small molecule
therapeutics targeting fundamental biological pathways of cancers.
The Company’s lead product candidate, azenosertib (ZN-c3), is a
potentially first-in-class and best-in-class WEE1 inhibitor for
advanced solid tumors and hematologic malignancies. Azenosertib is
being evaluated as a monotherapy and in combination across multiple
clinical trials and has broad franchise potential. In clinical
trials, azenosertib has been well tolerated and has demonstrated
anti-tumor activity as a single agent across multiple tumor types
and in combination with several chemotherapy backbones. As part of
its azenosertib clinical development program, the Company is
exploring enrichment strategies targeting tumors of high genomic
instability, such as Cyclin E1 positive tumors and homologous
recombination deficient tumors. The Company is also leveraging its
extensive experience and capabilities across cancer biology and
medicinal chemistry to advance its research on protein degraders.
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.
Contact:
Katie Beach Oltsik Evoke
CanaleKatherine.Beach@evokegroup.com
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