SAN DIEGO, Dec. 02, 2024 (GLOBE NEWSWIRE) — Zentalis ® Pharmaceuticals, Inc. (Nasdaq: ZNTL), a clinical-stage biopharmaceutical company discovering and developing clinically differentiated small molecule therapeutics targeting fundamental biological pathways of cancers, today announced that on December 2, 2024, the Compensation Committee of Zentalis’ Board of Directors granted the following equity awards: non-qualified stock options to purchase an aggregate of 3,028,800 shares of the Company’s common stock to Julie Eastland, who joined the Company as Chief Executive Officer and President, non-qualified stock options to purchase an aggregate of 712,650 shares of the Company’s common stock to Dr. Ingmar Bruns, who joined the Company as Chief Medical (TASE:) Officer, and non-qualified stock options to purchase an aggregate of 753,660 shares of the Company’s common stock to five newly hired employees. The stock options were granted under the Zentalis Pharmaceuticals, Inc. 2022 Employment Inducement Incentive Award Plan (2022 Inducement Plan) as an inducement material to each 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 each such individual’s entering into employment with Zentalis, pursuant to Nasdaq Listing Rule 5635(c)(4).
The stock options have an exercise price of $3.66 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 granted to Ms. Eastland have a 10-year term and will vest over four years in equal monthly installments until the stock options are fully vested. The stock options granted to the other newly hired employees 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.
Vesting of the stock options is subject to the employee’s continued service to Zentalis on each vesting date.
About Zentalis Pharmaceuticals
Zentalis ® Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company discovering and developing clinically differentiated small molecule therapeutics targeting…
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