NEW YORK and SAN DIEGO, Oct. 03, 2022 (GLOBE NEWSWIRE) — Zentalis™ Pharmaceuticals, Inc. (Nasdaq: ZNTL), a clinical-stage biopharmaceutical firm centered on discovering and growing clinically differentiated small molecule therapeutics concentrating on basic organic pathways of most cancers, at present introduced that on October 3, 2022, the Compensation Committee of Zentalis’ Board of Directors granted the next fairness awards to Dr. Carrie Brownstein, who joined the Company as Chief Medical Officer: non-qualified inventory choices to buy an mixture of 300,000 shares of the Company’s frequent inventory with time-based vesting, non-qualified inventory choices to buy an mixture of 100,000 shares of the Company’s frequent inventory with performance-based vesting, and 100,000 restricted inventory items (RSUs) with time-based vesting. The fairness awards have been granted below the Zentalis Pharmaceuticals, Inc. 2022 Employment Inducement Incentive Award Plan (2022 Inducement Plan) as an inducement materials to Dr. Brownstein’s getting into into employment with Zentalis in accordance with Nasdaq Listing Rule 5635(c)(4).
The 2022 Inducement Plan is used solely 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 such people’ getting into into employment with Zentalis, pursuant to Nasdaq Listing Rule 5635(c)(4).
The inventory choices granted to Dr. Brownstein have an train worth of $22.21 per share, which is the same as the closing worth of Zentalis’ frequent inventory on The Nasdaq Global Market on the date of grant. The inventory choices with time-based vesting 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 inventory choices with performance-based vesting will vest as to 100% of the shares on the sooner of (a) FDA approval of a Company product or (b) a Change in Control (as outlined within the 2022 Inducement Plan). The RSUs will vest over 4 years, with 25% of the RSUs vesting on every of the primary, second, third and fourth anniversaries of the date of grant. Vesting of the inventory choices and RSUs is topic to the worker’s continued service to Zentalis on every vesting date.
About Zentalis Pharmaceuticals
Zentalis™ Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical firm centered on discovering and growing small molecule therapeutics concentrating on basic organic pathways of cancers. The Company is growing a broad pipeline of doubtless best-in-class oncology candidates, all internally found, which embrace ZN-c3, a Wee1 inhibitor for superior stable tumors, ZN-d5, a BCL-2 inhibitor for hematologic malignancies and associated problems and a heterobifunctional degrader of BCL-xL for stable and hematological malignancies. The Company has licensed ZN-c3, ZN-d5 and ZN-c5 to its three way partnership, Zentera Therapeutics, Ltd. To develop and commercialize these candidates in China. Zentalis has operations in each New York and San Diego.
For extra info, please go to www.zentalis.com. Follow Zentalis on Twitter at @ZentalisP and on LinkedIn at www.linkedin.com/firm/zentalis-pharmaceuticals.
Investor Contacts:
Adam D. Levy, PhD, MBA
Senior Vice President, Investor Relations
[email protected]
Alexandra Roy
Solebury Strategic Communications
[email protected]
Media Contact:
Julia Deutsch
Solebury Strategic Communications
[email protected]
