<SEC-DOCUMENT>0001864934-26-000002.txt : 20260511
<SEC-HEADER>0001864934-26-000002.hdr.sgml : 20260511
<ACCEPTANCE-DATETIME>20260511163033
ACCESSION NUMBER:		0001864934-26-000002
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20260511
FILED AS OF DATE:		20260511
DATE AS OF CHANGE:		20260511

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Klearman Micki
		CENTRAL INDEX KEY:			0001864934
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-38542
		FILM NUMBER:		26963694

	MAIL ADDRESS:	
		STREET 1:		C/O KEZAR LIFE SCIENCES, INC.
		STREET 2:		4000 SHORELINE COURT, SUITE 300
		CITY:			SOUTH SAN FRANCISCO
		STATE:			CA
		ZIP:			94080

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Kezar Life Sciences, Inc.
		CENTRAL INDEX KEY:			0001645666
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		ORGANIZATION NAME:           	03 Life Sciences
		EIN:				473366145
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		4000 SHORELINE COURT, SUITE 300
		CITY:			SOUTH SAN FRANCISCO
		STATE:			CA
		ZIP:			94080
		BUSINESS PHONE:		650-822-5600

	MAIL ADDRESS:	
		STREET 1:		4000 SHORELINE COURT, SUITE 300
		CITY:			SOUTH SAN FRANCISCO
		STATE:			CA
		ZIP:			94080
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>form4-05112026_040517.xml
<TEXT>
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    <periodOfReport>2026-05-11</periodOfReport>

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        <issuerCik>0001645666</issuerCik>
        <issuerName>Kezar Life Sciences, Inc.</issuerName>
        <issuerTradingSymbol>KZR</issuerTradingSymbol>
        <issuerForeignTradingSymbol></issuerForeignTradingSymbol>
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            <rptOwnerName>Klearman Micki</rptOwnerName>
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            <rptOwnerStreet1>C/O KEZAR LIFE SCIENCES, INC.</rptOwnerStreet1>
            <rptOwnerStreet2>4000 SHORELINE COURT, SUITE 300</rptOwnerStreet2>
            <rptOwnerCity>SOUTH SAN FRANCISCO</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>94080</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
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            <isOfficer>false</isOfficer>
            <isTenPercentOwner>false</isTenPercentOwner>
            <isOther>false</isOther>
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        </derivativeTransaction>
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            <securityTitle>
                <value>Stock Option (right to buy)</value>
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                <transactionPricePerShare>
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                <transactionAcquiredDisposedCode>
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            <securityTitle>
                <value>Stock Option (right to buy)</value>
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        </derivativeTransaction>
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    <footnotes>
        <footnote id="F1">Pursuant to the terms of the Agreement and Plan of Merger, dated as of March 30, 2026 (the &quot;Merger Agreement&quot;), each option to acquire shares of Issuer common stock (the &quot;Company Stock Options&quot;) that had a per share exercise price equal to or greater than $6.955 per share (&quot;Cash Amount&quot;) (an &quot;Out-of-the-Money Option&quot;), was automatically cancelled and ceased to exist after completion of the tender offer, pursuant to the terms of the Merger Agreement, Purchaser merged with and into the Issuer (the &quot;Merger&quot;), effective as of May 11, 2026, with the Issuer continuing as the surviving entity and a wholly owned subsidiary of Parent (the &quot;Effective Time&quot;) , and no consideration was delivered in exchange for such Out-of-the-Money Option.</footnote>
        <footnote id="F2">Pursuant to the terms of the Merger Agreement, each Company Stock Option that had a per share exercise price less than the Cash Amount (an &quot;In-the-Money Option&quot;) was automatically cancelled and converted at the Effective Time into the right to receive (A) an amount in cash, without interest, equal to the product obtained by multiplying (x) the excess of the Cash Amount over the exercise price per share underlying such Company Stock Option at the Effective Time by (y) the number of shares underlying such In-the-Money
Option, subject to the terms and conditions specified in the Merger Agreement and (B) one CVR in respect of each share underlying such In-the-Money Option.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Marc Belsky, Attorney-in-Fact</signatureName>
        <signatureDate>2026-05-11</signatureDate>
    </ownerSignature>
</ownershipDocument>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
