NEW YORK and SAN DIEGO, Feb. 01, 2023 (GLOBE NEWSWIRE) — Zentalis™ Pharmaceuticals, Inc. ZNTL, a clinical-stage biopharmaceutical company focused on the discovery and development of clinically differentiated small molecule therapeutics targeting fundamental biological pathways in cancer, today announced that on February 1, 2023, the compensation of Zentalis’ Board of Directors will The Committee permitted a newly hired employee to purchase non-qualified stock options totaling 12,500 shares of the Company’s common stock. Gentalis Pharmaceuticals, Inc. as an inducement to enter into such person’s employment with Gentalis pursuant to Nasdaq Listing Rule 5635(c)(4). The stock options were granted under the 2022 Employment Incentive Incentive Award Plan (2022 Incentive Plan).
The 2022 Induction Plan is exclusively used to grant equity awards to individuals who were not previously employees of Zentalis, or for the entry of such individuals into employment with Zentalis, after a bona fide period of non-employment As an inducement material, pursuant to Nasdaq Listing Rule 5635(c)(4).
The stock options have an exercise price of $23.65 per share, which is equal to the closing price of Gentalis common stock on the Nasdaq Global Market on the date of grant. The stock options have a tenor of 10 years and will vest over four years, with 25% of the options vesting on the first anniversary of the date of vesting and the remaining 75% of the options vesting in equal monthly installments over three years. , The vesting of the Stock Options is subject to such employee’s continued service to Zentalis on each Vesting Date.
About Gentalis Pharmaceuticals
Zentalis™ Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company focused on the discovery and development of small molecule therapeutics targeting fundamental biological pathways in cancer. Using its integrated discovery engine, the company is developing a focused pipeline of potential best-in-class oncology candidates, including Azenosertib (ZN-C3), a VE1 inhibitor for advanced solid tumors, ZN-D5, a BCL -2 resistors are included. Hematological malignancies and related disorders, and a heterobifunctional degrader of Bcl-xL for solid and hematological malignancies. The company is also leveraging its extensive experience and capabilities in cancer biology and medicinal chemistry to advance its research on protein degraders. Zentalis has operations in both New York and San Diego.
for more information please visit www.zentalis.com, Follow Gentalis on Twitter @ZentalisP and on linkedin www.linkedin.com/company/zentalis-pharmaceuticals,
Investor Contact:
Adam D. Levy, PhD, MBA
Senior Vice President, Investor Relations
alevy@zentalis.com
Alexandra Roy
Solebury Strategic Communications
aroy@soleburystrat.com
media Contact:
Julia Deutsch
Solebury Strategic Communications
jdeutsch@soleburystrat.com