SAN DIEGO, Nov. 01, 2024 (GLOBE NEWSWIRE) — Zentalis ® Prescribed drugs, Inc. (Nasdaq: ZNTL), a clinical-stage biopharmaceutical firm discovering and growing clinically differentiated small molecule therapeutics focusing on elementary organic pathways of cancers, right now introduced that on November 1, 2024, the Compensation Committee of Zentalis’ Board of Administrators granted non-qualified inventory choices to buy an combination of 79,500 shares of the Firm’s frequent inventory and 21,000 restricted inventory items to 3 newly employed workers. The inventory choices and restricted inventory items had been granted beneath the Zentalis Prescribed drugs, Inc. 2022 Employment Inducement Incentive Award Plan (2022 Inducement Plan) as an inducement materials to every such particular person’s coming into into employment with Zentalis in accordance with Nasdaq Itemizing Rule 5635(c)(4).
The 2022 Inducement Plan is used completely for the grant of fairness awards to people who weren’t beforehand workers of Zentalis, or following a bona fide interval of non-employment, as an inducement materials to every such particular person’s coming into into employment with Zentalis, pursuant to Nasdaq Itemizing Rule 5635(c)(4).
The inventory choices have an train worth of $3.32 per share, which is the same as the closing worth of Zentalis’ frequent inventory on The Nasdaq International Market on the date of grant. The inventory choices have a 10-year time period and can vest over 4 years, with 25% of the choices vesting on the primary anniversary of the vesting graduation date and the remaining 75% of the choices vesting in equal month-to-month installments over the three years thereafter. The restricted inventory items will vest over 4 years, with 25% of the restricted inventory items vesting on every of the primary, second, third and fourth anniversaries of the vesting graduation date.
Vesting of the inventory choices and restricted inventory items is topic to the worker’s continued service to Zentalis on every vesting date.
About Zentalis Prescribed drugs
Zentalis ® Prescribed drugs, Inc. is a clinical-stage biopharmaceutical firm discovering and growing clinically differentiated small molecule therapeutics focusing on elementary organic pathways of cancers. The Firm’s lead product candidate, azenosertib (ZN-c3), is a doubtlessly first-in-class and best-in-class WEE1 inhibitor for superior strong tumors and hematologic malignancies. Azenosertib is being evaluated as a monotherapy and together throughout a number of medical trials and has broad franchise potential. In medical trials, azenosertib has been properly tolerated and has demonstrated anti-tumor exercise as a single agent throughout a number of tumor varieties and together with a number of chemotherapy backbones. As a part of its azenosertib medical improvement program, the Firm is exploring enrichment methods focusing on tumors of excessive genomic instability, akin to Cyclin E1 optimistic tumors, homologous recombination poor tumors and tumors with oncogenic driver mutations. The Firm can also be leveraging its intensive expertise and capabilities throughout most cancers biology and medicinal chemistry to advance its analysis on protein degraders. Zentalis has operations in San Diego.
For extra info, please go to www.zentalis.com. Observe Zentalis on Twitter at @ZentalisP and on LinkedIn at www.linkedin.com/firm/zentalis-pharmaceuticals.
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Contacts:
Elizabeth Hickin
Vice President, Investor Relations
[email protected]
Supply: ZENTALIS PHARMACEUTICALS
