SEC FORM 3

SEC FORM 3 SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

To Zung Phoung

(Last)

(First)

(Middle)

C/O KEZAR LIFE SCIENCES, INC.

4000 SHORELINE CT, STE 300

(Street)

SOUTH SAN FRANCISCO

94080

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
04/01/2025

3. Issuer Name and Ticker or Trading Symbol
Kezar Life Sciences, Inc. [ KZR ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	SVP, Clinical Development

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
Employee Stock Option (right to buy)	⁽¹⁾	06/05/2033	Common Stock	25,000	$30.6	D
Employee Stock Option (right to buy)	⁽²⁾	07/23/2033	Common Stock	12,499	$22.8	D
Employee Stock Option (right to buy)	⁽³⁾	07/10/2034	Common Stock	10,000	$6.3	D
Employee Stock Option (right to buy)	⁽⁴⁾	01/06/2034	Common Stock	24,999	$9.3	D
Employee Stock Option (right to buy)	⁽⁵⁾	01/08/2035	Common Stock	20,000	$6.58	D

Explanation of Responses:

1. One quarter (1/4th) of the shares vested on May 15, 2024. Thereafter, one forty-eighth (1/48th) of the total shares vested or shall vest on a monthly basis commencing on June 15, 2024, subject to the Reporting Person continuing to provide service through each such date.

2. One quarter (1/4th) of the shares vested on July 24, 2024. Thereafter, one forty-eighth (1/48th) of the total shares vested or shall vest on a monthly basis commencing on August 24, 2024, subject to the Reporting Person continuing to provide service through each such date.

3. Fully vested.

4. One forty-eighth (1/48th) of the shares vested or shall vest on a monthly basis commencing on January 7, 2024, subject to the Reporting Person continuing to provide service through each such date.

5. One forty-eighth (1/48th) of the shares vested or shall vest on a monthly basis commencing on January 9, 2025, subject to the Reporting Person continuing to provide service through each such date.

	/s/ Marc Belsky, Attorney-in-Fact	04/16/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

SEC Form 3 filed by new insider To Zung Phoung