Zentalis Pharmaceuticals Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
December 02 2024 - 3:35PM
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 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 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. 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, homologous
recombination deficient tumors and tumors with oncogenic driver
mutations. 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 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.
ZENTALIS® and its associated logo are trademarks of Zentalis
and/or its affiliates. All website addresses and other links in
this press release are for information only and are not intended to
be an active link or to incorporate any website or other
information into this press release.
Contacts:
Elizabeth Hickin
Vice President, Investor Relations
ehickin@zentalis.com
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