Bellicum Pharmaceuticals, Inc. (NASDAQ:BLCM) 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.
2017 Bonus Payments and 2018 Salary and Target Bonus Information for Certain Executive Officers
On December21, 2017, the Compensation Committee (the “Committee”) of the Board of Directors of Bellicum Pharmaceuticals, Inc. (the “Company”) approved (i)the payment of annual cash bonus awards with respect to performance for fiscal year 2017, which will be paid in January 2018, (ii) annual increases in base salaries for fiscal year 2018, and (iii)target performance bonuses for fiscal year 2018, for certain of the Company’s executive officers as set forth below. The base salaries for fiscal year 2018 are effective as of January1, 2018. The target performance bonus amounts for fiscal year 2018 are expressed as a percentage of the corresponding 2018 base salary.
The following table sets forth the amounts approved by the Committee for the Company’s principal executive officer and principal financial officer:
|
Name |
2018 BaseSalary($) | 2017Bonus Payment($) | 2018TargetBonus
(%ofBaseSalary) |
|
|
Richard A. Fair |
||||
|
President and Chief Executive Officer |
551,050 | 234,731 | % | |
|
Alan A. Musso, CPA, CMA |
||||
|
Chief Financial Officer and Treasurer |
400,000 | 78,829 | % |
Equity Award Information for Certain Executive Officers
On December21, 2017, the Committee also approved restricted stock unit awards (“RSUs”) and stock option awards (“Options”), granted to the Company’s 2014 Equity Incentive Plan, as amended, to the Company’s principal executive officer and principal financial officer, as follows:
|
Name |
RSUsgrantedeffectiveJanuary2,2018
(#ofshares) |
OptionsgrantedeffectiveJanuary2,2018
(#ofshares) |
OptionsgrantedeffectiveJuly2,2018
(# of shares) |
|
Richard A. Fair |
|||
|
President and Chief Executive Officer |
— | 225,000 | 225,000 |
|
Alan A. Musso, CPA, CMA |
|||
|
Chief Financial Officer and Treasurer |
12,500 | 22,500 | 52,500 |
The above RSUs will vest annually over a four-year period, commencing on the one-year anniversary of the grant date, subject to the executive officer’s continued service to the Company over the term of the vesting. The above Options will have an exercise price equal to the closing price of the Company’s common stock on the date of grant and will vest over a four-year period, commencing on January2, 2018, subject to the executive officers’ continued service to the Company over the term of the vesting. The terms of the RSUs and Options are subject to the Company’s 2014 Equity Incentive Plan, as amended, and the forms of RSU agreement and stock option agreement adopted thereunder.
About Bellicum Pharmaceuticals, Inc. (NASDAQ:BLCM)
Bellicum Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company. The Company is focused on discovering and developing cellular immunotherapies for various forms of cancer, including hematological cancers and solid tumors, as well as orphan inherited blood disorders. The Company uses its chemical induction of dimerization (CID) technology platform to engineer and then control components of the immune system. The Company is developing next-generation product candidates in the areas of cellular immunotherapy, including hematopoietic stem cell transplantation (HSCT), chimeric antigen receptors (CAR) T cells therapy and T-cell receptor (TCR) cell therapies. The Company’s product candidates include BPX-501, BPX-401, BPX-601 and BPX-701. BPX-501 is an adjunct T cell therapy for allogeneic hematopoietic stem cell transplantation. The Company’s CID-based technologies include CaspaCIDe, CIDeCAR and GoCAR-T.
