Zentalis Pharmaceuticals, Inc. – GuruFocus.com
NEW YORK and SAN DIEGO, Aug. 01, 2022 (GLOBE NEWSWIRE) — Zentalis Pharmaceuticals, Inc. (Nasdaq: ZNTL), a clinical-stage biopharmaceutical company focused on the discovery and development of small molecule therapeutics targeting fundamental biological pathways in cancers , announcing today announced that on August 1, 2022, the Compensation Committee of the Zentalis Board of Directors granted non-qualified stock options to purchase a total of 290,500 common shares from Andrea Paul, who joined Zentalis as Legal Director and Corporate Secretary. The stock options were granted under Zentalis Pharmaceuticals, Inc.’s 2022 Employment Incentive Plan (the “2022 Incentive Plan”) as employee incentive material. Ms. Paul joined Zentalis pursuant to Nasdaq listing rule 5635(c)4).
The 2022 Incentive Plan is used exclusively to grant stock awards to individuals who were not previously employees of Zentalis, or after a good faith period of non-employment, as an incentive to entry of such individuals into Zentalis pursuant to Nasdaq Listing Rule 5635(c)(4).
The stock options have an exercise price of $28.82 per share, which is equal to the closing price of Zentalis common stock on the Nasdaq Global Market on the date of grant. The stock options have a term of 10 years and will vest over four years, with 25% of the options vesting on the first anniversary of the vesting start date and the remaining portion of the options vesting in equal monthly installments over the following three years, subject to Mrs. Paul’s continued presence at Zentalis at each acquisition date.
About Zentalis Pharmaceuticals, Inc.
Zentalis Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company focused on the discovery and development of small molecule therapeutics targeting fundamental cancer pathways. The Company is developing a broad portfolio of potentially best-in-class oncology candidates, all discovered internally, which include ZN-c3, a Wee1 inhibitor for advanced solid tumors, ZN-d5, a BCL-2 inhibitor for malignancies and related disorders, ZN-c5, a selective oral estrogen receptor degrader (SERD) for ER+/HER2- breast cancer, ZN-e4, an epidermal growth factor receptor (EGFR) inhibitor for non-small cell lung carcinoma (NSCLC) and a heterobifunctional degrader of BCL-xL for solid and hematological malignancies. The Company has licensed ZN-c3, ZN-d5 and ZN-c5 to its joint venture Zentera Therapeutics, Ltd., to develop and commercialize these candidates in China. Zentalis has operations in New York and San Diego.