Atara Biotherapeutics, Inc. (NASDAQ:ATRA) 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.
(d) On September 11, 2018 (the “Effective Date”), the Board of Directors (the “Board”) of Atara Biotherapeutics, Inc. (the “Company”) increased the authorized size of the Board from seven to eight members, creating a vacancy on the Board.
On the Effective Date, the Board appointed, upon the recommendation of the Nominating and Corporate Governance Committee of the Board, Roy Baynes, M.D., Ph.D. to fill the vacant Board seat and to serve as a member of the Board with an initial term expiring at the Company’s 2019 annual meeting of stockholders.
There are no arrangements or understandings between Dr. Baynes and any other persons to which he was selected as a director of the Company. The Board has not appointed Dr. Baynes to any Board committee and he is not currently expected to be named to a Board committee. The Board has determined that Dr. Baynes is independent under the Company’s Corporate Governance Guidelines, applicable U.S. Securities and Exchange Commission (the “SEC”) requirements and Nasdaq listing standards.There is no transaction involving Dr. Baynes that requires disclosure under Item 404(a) of Regulation S-K.
As of the Effective Date, Dr. Baynes will participate in the Company’s non-employee director compensation arrangements, which are generally described under the heading “Non-Employee Director Compensation” in the Company’s Proxy Statement for its 2018 Annual Meeting of Stockholders as filed with the SEC on April 26, 2018.Under these arrangements, Dr. Baynes will receive an annual retainer of $40,000 starting on the Effective Date, with payment pro-rated for any partial period of service.In addition, on the Effective Date, Dr. Baynes received an option to purchase 16,500 shares of the Company’s Common Stock, which will vest on an annual basis over three years, subject to Dr. Baynes’ continuous service as a member of the Board.The Company also entered into its standard form of indemnification agreement with Dr. Baynes.
About Atara Biotherapeutics, Inc. (NASDAQ:ATRA)
Atara Biotherapeutics, Inc. is a clinical-stage biopharmaceutical company. Its segment is the business of developing and commercializing therapeutics. It has approximately two groups of product candidates, such as allogeneic or third-party derived antigen-specific T-cells, and molecularly targeted biologics. Its T-cell product candidates include Epstein Barr Virus-cytotoxic T lymphocytes (EBV-CTL), which is in Phase II clinical trials for malignancies associated with EBV; cytomegalovirus (CMV)-CTL, which is in Phase II clinical trials for CMV, and Wilms Tumor 1 (WT1)-CTL, which targets cancers expressing the antigen WT1. Its molecularly targeted product candidates include STM 434, which is in Phase I clinical trial of STM 434 for ovarian cancer and other solid tumors; ATA 777, a fully human antibody targeting Activin A; ATA M43, a fully human anti-Actin-related protein 2-A (ActR2A)/2B monoclonal antibody; STM 217; ActR2B5, and ATA 842, a humanized antibody targeting myostatin.