ACCELERON PHARMA INC. (NASDAQ:XLRN) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersITEM 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On May 10, 2018, Acceleron Pharma Inc. (the “Company”) promoted the Company's Senior Vice President, Corporate Development, General Counsel and Secretary, John D. Quisel, J.D., Ph.D., age 46, to the position of Executive Vice President, Chief Business Officer and Secretary. In connection with thepromotion, effective May 10, 2018, the Company increased Dr. Quisel's annual base salary to $440,000, and the percentage of Dr. Quisel's base salary that he is eligible to receive as an annual bonus will remain unchanged at 40% of his base salary. The Company granted Dr. Quisel nonqualified stock options to purchase 10,000 shares of the Company's common stock, par value $0.001 per share (the "Common Stock"), to the Company’s 2013 Equity Incentive Plan, at an exercise price equal to the closing price of the Company's Common Stock on May 10, 2018, or $34.94 per share, and which will vest in equal quarterly installments over four years from the date of grant. The Company also granted Dr. Quisel an equity award of 2,000 restricted stock units to the Company's 2013 Equity Incentive Plan which will vest in equal annual installments over three years from the date of grant.
The other terms of Dr. Quisel's employment with the Company remain unchanged from his existing employment agreement, which was filed as Exhibits 10.15 to the Company's Annual Report on Form 10-K for the fiscal year ended filed December 31, 2014, filed with the Securities and Exchange Commission (the "SEC") on March 2, 2015.
A description of Dr. Quisel's background and experience has been previously reported in, and is incorporated by reference to, the Company's proxy statement filed with the SEC on April 13, 2018.
About ACCELERON PHARMA INC. (NASDAQ:XLRN)
Acceleron Pharma Inc. is a United States-based clinical-stage biopharmaceutical company. The Company focuses on the discovery, development and commercialization of therapeutic candidates that are based on mechanisms, which the human body uses to regulate the growth and repair of its cells and tissues. Its therapeutic candidates are used to treat serious and rare diseases. The Company’s pipeline includes Luspatercept, Sotatercept, Dalantercept, ACE-083, ACE-2494, ACE-1332, ACE-3891, ACE-2798, ACE-2536 and ACE-2395. Luspatercept promotes red blood cell production. It is developing Sotatercept for the treatment of chronic kidney disease. Dalantercept treats cancers by inhibiting blood vessel formation by inhibiting signaling through the activin receptor-like kinase (ALK) 1 receptor. ACE-083 is for the treatment of focal muscle disorders. ACE-2494 is designed to treat systemic muscle disorders. ACE-3891, ACE-1332, ACE-2798, ACE-2536 and ACE-2395 are in preclinical stage of development.