NEW YORK and SAN DIEGO, November 01, 2022 (GLOBE NEWSWIRE) — Zentalis™ Pharmaceuticals, Inc. ZNTL, a clinical-stage biopharmaceutical company focused on the discovery and development of clinically differentiated small molecule therapeutics targeting fundamental cancer biology pathways, today announced that on November 1, 2022, the Compensation Committee of Zentalis’ Board of Directors granted non-qualifying stock options has granted a total of 350,025 common shares of the company to four newly hired employees for purchase. The stock options were granted under Zentalis Pharmaceuticals, Inc.’s 2022 Employment Incentive Incentive Plan (2022 Incentive Plan) as inducement material for each person’s entry into Zentalis pursuant to Nasdaq Listing Rule 5635(c)(4).
The Compensation Plan 2022 will be used solely for the purpose of granting stock awards to individuals who were not previously employees of Zentalis or, after a reasonable period of non-employment, as inducement material for such individuals to take up employment with Zentalis, pursuant to Nasdaq listing rule 5635(c)( 4).
The stock options have an exercise price of $25.60 per share, which is the closing price of Zentalis common stock on the Nasdaq Global Market on the grant date. The stock options have a term of 10 years and vest over four years, with 25% of the options accruing on the first anniversary of the commencement of vesting and the remaining 75% of the…
