Zentalis Pharmaceuticals Announces Nasdaq Rule 5635(c)(4) Incentive Grant By Investing.com
SAN DIEGO, Jan. 02, 2025 (GLOBE NEWSWIRE) — Zentalis ® Pharmaceuticals, Inc . (Nasdaq: ZNTL), a clinical-stage biopharmaceutical company that discovers and develops clinically differentiated small molecule therapies targeting fundamental biological pathways in cancer, today announced that on January 2, 2025, the Compensation Committee of Zentalis’ Board of Directors has granted non-qualified stock options to purchase an aggregate of 45,000 shares of the Company of two newly employed employees. Stock options were granted under the Zentalis Pharmaceuticals, Inc. Employment Incentive Plan. for 2022 (the 2022 Incentive Plan) as incentive material to any such individual to employ Zentalis pursuant to Nasdaq Listing Rule 5635(c)(4).
The 2022 Incentive Plan is used solely to grant equity awards to individuals who were not previously employees of Zentalis or after a bona fide period of non-employment, as a material incentive to any such individual to become employed by Zentalis, pursuant to Nasdaq Listing Rule 5635(c). (4).
The stock options have an exercise price of $3.00 per share, which is equal to 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 vesting on the first anniversary of the vesting start date and the remaining 75% of the options vesting in equal monthly installments over three years thereafter.
Vesting of stock options is contingent upon the employee continuing to work at Zentalis on each vesting date.
About Zentalis Pharmaceuticals
Zentalis ® Pharmaceuticals, Inc. is a clinical biopharmaceutical company that discovers and develops clinically differentiated small molecule therapies targeting fundamental cancer biological pathways. The Company’s lead product candidate, azenosertib (ZN-c3), is potentially a first-in-class and best-in-class WEE1 inhibitor for advanced solid tumors. Azenosertib is being evaluated as monotherapy and in combination in multiple clinical trials and has broad franchise potential. In clinical trials, azenosertib was well tolerated and demonstrated antitumor activity as a single agent in multiple tumor types and in combination with several chemotherapy backbones. As part of its azenosertib clinical development program, the company is investigating enrichment strategies targeting tumors with 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 in cancer biology and medicinal chemistry to advance its research into protein degraders. Zentalis operates in San Diego.
For more information, 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 subsidiaries. All website addresses and other links in this release are for information only and are not intended to be an active link or to include any website or other information in this release.
Contacts:
Elizabeth Hickin
Vice President, Investor Relations
ehickin@zentalis.com
Source: ZENTALIS PHARMACEUTICALS
