Nicholas Michael Mordwinkin - 24 Jul 2023 Form 4 Insider Report for Kezar Life Sciences, Inc. (KZR)

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	KZR	Employee Stock Option (right to buy)	Disposed to Issuer		-185,000	-100%		0	24 Jul 2023	Common Stock	185,000	$6.84	Direct	F1, F2
transaction	KZR	Employee Stock Option (right to buy)	Award		+185,000			185,000	24 Jul 2023	Common Stock	185,000	$2.28	Direct	F1, F2
transaction	KZR	Employee Stock Option (right to buy)	Award	$0	+100,000		$0.000000	100,000	24 Jul 2023	Common Stock	100,000	$2.28	Direct	F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Id	Content
F1	One forty-eighth (1/48th) of the shares vested or shall vest on a monthly basis commencing on January 8, 2023, subject to the Reporting Person continuing to provide service through each such date.
F2	On July 24, 2023, the option originally granted to the Reporting Person was amended to reduce the exercise price to $2.28 per share. All of the other terms of the option remain unchanged.
F3	Twenty-five percent (25%) of the shares subject to the option shall vest on July 24, 2024, and one thirty-sixth (1/36th) of the remaining shares subject to the option shall vest each month thereafter, subject to the Reporting Person continuing to provide service through each such vesting date.