Kala Pharmaceuticals Reports Inducement Grant Under NASDAQ Listing Rule 5635(c)(4)
October 21 2019 - 4:05PM
Business Wire
Kala Pharmaceuticals, Inc. (NASDAQ:KALA), today announced that
the Company granted non-statutory stock options to two new
employees as an inducement award outside the Company’s 2017 Equity
Incentive Plan in accordance with NASDAQ Listing Rule
5635(c)(4).
The Company granted stock options to purchase up to an aggregate
of 8,000 shares of Kala Pharmaceuticals common stock to the two new
employees. The stock options were granted on October 15, 2019. The
grant was approved by the Compensation Committee and was made as an
inducement material to each employee entering into employment with
Kala Pharmaceuticals in accordance with NASDAQ Listing Rule
5635(c)(4). The option awards have an exercise price of $3.49 per
share, the closing price of Kala Pharmaceuticals’ common stock on
October 15, 2019. The options have a ten-year term and vest over
four years, with 25% of the original number of shares vesting on
the first anniversary of the applicable employee’s new hire date
and the remainder vesting in equal monthly installments over the
following three years. Vesting of each option is subject to such
employee’s continued service with Kala Pharmaceuticals through the
applicable vesting dates.
About Kala Pharmaceuticals, Inc.
Kala is a biopharmaceutical company focused on the development
and commercialization of therapeutics using its proprietary
AMPPLIFY™ mucus-penetrating particle (MPP) Drug Delivery
Technology, with an initial focus on the treatment of eye diseases.
Kala has applied the AMPPLIFY Drug Delivery Technology to a
corticosteroid, loteprednol etabonate (LE), designed for ocular
applications, resulting in the August 2018 FDA approval of
INVELTYS® for the treatment of inflammation and pain following
ocular surgery and its lead product candidate, KPI-121 0.25%, for
the temporary relief of the signs and symptoms of dry eye
disease.
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version on businesswire.com: https://www.businesswire.com/news/home/20191021005441/en/
Investors Hannah Deresiewicz, 212-362-1200
Hannah.Deresiewicz@sternir.com
Media Kari Watson, 781-235-3060 kwatson@macbiocom.com
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