Kala Pharmaceuticals Reports Inducement Grant Under NASDAQ Listing Rule 5635(c)(4)
Kala Pharmaceuticals, Inc. (KALA)
Last kala pharmaceuticals, inc. earnings: 2/12 07:00 am
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Source: Business Wire
WATERTOWN, Mass.--(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’
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