BIOCEPT, INC. (NASDAQ:BIOC) 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 Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(b)

On October 20, 2020, Bruce A. Huebner notified Biocept, Inc. (the “Company”) that he will retire from the Company’s Board of Directors (the “Board”), effective November 30, 2020.

(d)

On October 20, 2020, the Board, upon recommendation of the Nominating and Corporate Governance Committee of the Board, appointed Samuel D. Riccitelli as a Class I director of the Company, effective immediately, with a term of office expiring at the 2023 annual meeting of stockholders.

Concurrently with his appointment to the Board, Mr. Riccitelli was appointed to the Audit Committee of the Board and the Science and Technology Committee of the Board.

to the Company’s non-employee director compensation policy (the “Compensation Policy”), Mr. Riccitelli (i) will receive an annual cash retainer of $30,000 for service on the Board, an annual cash retainer of $6,250 for service on the Audit Committee of the Board and an annual cash retainer of $5,000 for service on the Science and Technology Committee of the Board, and (ii) was granted on the date of his appointment an option to purchase 10,000 shares of the Company’s common stock, which vests annually over a three year period. The Compensation Policy also provides for further automatic annual option grants to purchase 10,000 shares of the Company’s common stock on the date of each annual meeting of stockholders, which vest in full on the one year anniversary of the date of grant. Each of the option grants described above will vest in full in the event of a change in control (as defined in the Company’s equity incentive plan). Mr. Riccitelli has also entered into the Company’s standard form of Indemnification Agreement.

About BIOCEPT, INC. (NASDAQ:BIOC)

Biocept, Inc. is an early commercial-stage molecular oncology diagnostics company. The Company develops and commercializes circulating tumor cell (CTC) and circulating tumor deoxyribonucleic acid (ctDNA), assays utilizing a standard blood sample, or liquid biopsy. The Company’s Target-Selector offering is based on an internally developed, microfluidics-based CTC capture and analysis platform, with enabling features that change how CTC testing can be used by clinicians by providing biomarker detection and monitoring requiring only a standard blood sample. The ctDNA technology enables mutation detection and is applicable to nucleic acid from CTCs or other sample types, such as blood plasma. The Company commercializes its Target-Selector assays for a range of solid tumor indications, such as breast cancer, non-small cell lung cancer (NSCLC), small cell lung cancer (SCLC), gastric cancer, colorectal cancer, prostate cancer and melanoma.