Alder BioPharmaceuticals, Inc. (NASDAQ:ALDR) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02
On April16, 2018, Alder BioPharmaceuticals, Inc. (“Alder”) announced the appointment of Erin Lavelle as Alder’s Chief Operating Officer, effective April16, 2018.
to the terms of an offer letterdated March18, 2018 (the “Offer Letter”), Ms.Lavelle will receive an annual base salary of $400,000 and is eligible to receive a bonus of up to 40% of her annual base salary. Alder will reimburse Ms.Lavelle for certain relocation expenses incurred through December31, 2018. If Ms.Lavelle voluntarily terminates her employment within 12 months of her start date with Alder, she will be required to reimburse Alder for 50% of the relocation expenses reimbursed to her or paid on her behalf (including any tax gross-up). If Ms.Lavelle voluntarily terminates her employment after 12 months and before 24 months of her start date with Alder, she will be required to reimburse Alder for 50% of the relocation expenses reimbursed to her or paid on her behalf. Additionally, Ms.Lavelle will be granted an option to purchase 300,000 shares of common stock.
From October 2017 to March 2018, Ms. Lavelle, 40, served as the General Manager of the Taiwan affiliate of Amgen Inc., where she was responsible for managing a portfolio of six commercialized products and leading a team of 80 cross-functional colleagues. From June 2016 to September 2017, Ms. Lavelle served as Executive Director, Japan and Asia-Pacific Commercial Excellence and Digital Health, at Amgen, where she was responsible for building the brand strategy, business analytics and digital health teams in the Japan and Asia-Pacific regions. From July 2003 to June 2016, Ms. Lavelle served in roles of increasing responsibility at Amgen, including as Amgen’s Executive Director in the areas of Global Marketing; Global Commercial Finance; and Strategy and Corporate Development. Ms. Lavelle began her career in 1998 as an investment banker in the healthcare group at Merrill Lynch & Co. Ms. Lavelle holds a Bachelor of Arts in Economics from Yale University.
The foregoing summary of the Offer Letter is not intended to be complete and is qualified in its entirety by reference to the full text of the Offer Letter, to be filed as an exhibit to the Company’s Quarterly Report on Form10-Qfor the quarter ended March31, 2018.
About Alder BioPharmaceuticals, Inc. (NASDAQ:ALDR)
Alder Biopharmaceuticals, Inc. is a clinical-stage biopharmaceutical company. The Company discovers, develops and focuses to commercialize therapeutic antibodies with the potential to transform current treatment paradigms. The Company’s pipeline includes ALD403, Clazakizumab and ALD1613. ALD403 is the Company’s monoclonal antibody targeted to calcitonin gene-related peptide (CGRP) for migraine prevention. Clazakizumab is a monoclonal antibody that inhibits the pro-inflammatory cytokine interleukin-6 (IL-6), and is in development for both rheumatoid arthritis (RA) and psoriatic arthritis (PsA). ALD1613 is a monoclonal antibody that inhibits Adrenocorticotropic Hormone, and is being developed for the treatment of Cushing’s disease. Its candidate, Eptinezumab, is an investigational product candidate being developed as a migraine prevention treatment for patients with chronic and frequent episodic migraine. It is also is developing ALD1910, a genetically engineered monoclonal antibody.