APTEVO THERAPEUTICS INC. (NASDAQ:APVO) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02
|
Departure of Directors or Certain Officers; Election of |
2016 Performance Bonus Program
On February 22, 2017, the Compensation Committee (the Committee)
of the Board of Directors of Aptevo Therapeutics Inc. (Aptevo)
reviewed the achievement of company and individual performance
goals and other factors deemed relevant by the Committee in
determining the amounts earned by our named executive officers
under our performance bonus program for 2016.The company
performance goals related to financial, operational, strategic
and product development milestones. The individual performance
goals consisted of a subjective assessment of each named
executive officers individual contributions to Aptevo. The
following table sets forth the 2016 performance bonuses, which
will be paid during 2017:
|
Name and Principal Position |
2016 Bonus Award |
|
Marvin L. White Chief Executive Officer and President |
$238,880.82 |
|
Jeffrey Lamothe Senior Vice President and Chief Financial Officer |
$153,472.88 |
|
Scott Stromatt Senior Vice President and Chief Medical Officer |
$144,900.29 |
2017 Performance Bonus Program and Salary Increases
On February 22, 2017, the Committee also approved annual base
salaries and target bonus percentages for 2017 for our named
executive officers. The 2017 bonuses will be determined based on
a review of the achievement of company and individual performance
goals and other factors deemed relevant by the Committee.Bonuses
will be based on company performance and individual performance
as determined by the Committee. The following table sets forth
the base salary and target performance bonus percentages for
2017:
|
Name and Title |
2017 Base Salary |
2017 Target Performance Bonus as a Percentage of Base |
|
Marvin L. White Chief Executive Officer and President |
$543,387.80 |
50% |
|
Jeffrey Lamothe Senior Vice President and Chief Financial Officer |
$387,407.00 |
40% |
|
Scott Stromatt Senior Vice President and Chief Medical Officer |
$412,563.80 |
40% |
Additional information regarding compensation of our named
executive officers will be included in the proxy statement for
the companys 2017 Annual Meeting of Stockholders.
About APTEVO THERAPEUTICS INC. (NASDAQ:APVO)
Aptevo Therapeutics Inc. is a biotechnology company. The Company is focused on oncology and hematology therapeutics. The Company is engaged in the discovery, development, commercialization and sale of oncology and hematology therapeutics. The Company’s technology is the ADAPTIR (modular protein technology) platform. The Company has approximately four products in the areas of hematology and infectious diseases, as well as various investigational-stage product candidates in immuno-oncology. The Company’s investigational-stage product candidates include MOR209/ES414, ES210, ES425, Otlertuzumab and 5E3. Its technology can produce monospecific and multispecific immunotherapeutic proteins that bind to various targets. The Company’s marketed products are WinRho SDF (Rho(D) Immune Globulin Intravenous (Human)), HepaGam B (Hepatitis B Immune Globulin Intravenous (Human)), VARIZIG (Varicella Zoster Immune Globulin (Human)), and IXINITY (coagulation factor IX (recombinant)). APTEVO THERAPEUTICS INC. (NASDAQ:APVO) Recent Trading Information
APTEVO THERAPEUTICS INC. (NASDAQ:APVO) closed its last trading session down -0.01 at 1.96 with 76,398 shares trading hands.