CATALYST BIOSCIENCES, INC. (NASDAQ:CBIO) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 9.01. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

Option Awards to Executive Officers

On July 11, 2017, the Compensation Committee (the “Committee”) of the Board of Directors (the “Board”) of Catalyst Biosciences, Inc. (the “Company”) approved and made stock based awards to the Company’s Chief Executive Officer, Chief Medical Officer and Chief Financial Officer by grant of option awards to purchase 275,000, 95,000 and 75,000 shares of the Company’s common stock, respectively, under the terms of the Company’s 2015 Stock Incentive Plan (the “2015 Plan”). The awards each have an exercise price of $4.63 per share, and will vest in equal monthly installments over four years, with vesting commencing as of June 15, 2017, the date of the Company’s 2017 Annual Meeting of Stockholders.

Amendments to Director Compensation Policy and Option Awards to Directors

On July 13, 2017, upon recommendation of the Committee, the Board approved of amendments to the Company’s director compensation policy, increasing the initial equity grants thereunder, such that non-employee director who joins the Board will receive an option to purchase 10,000 shares of common stock, which will vest monthly over three years, subject to continued service, and increasing the equity component of annual retainers thereunder, such that each non-employee director will receive an annual retainer for service on the Board consisting of an option to purchase 5,000 shares of the common stock, to be awarded at the Company’s annual stockholders’ meeting and which will vest over one year, in addition to cash retainers.

In connection with these amendments, the Board also approved of grants of options to purchase 10,000 shares of common stock, which have an exercise price of $4.40 per share and will vest over one year commencing with the date of the Company’s 2017 Annual Meeting of Stockholders, to each current non-employee director. These options are being awarded to such directors are receiving in lieu of the annual grant that was awardable to such director in connection with the 2017 Annual Meeting of Stockholders under the prior director compensation policy, provided that director Jeff Himawan, Ph.D., has declined to receive any compensation for his service as a director.

Copies of the form award agreements for grants of stock options to the Company’s executive officers and directors are attached hereto as Exhibit 10.1 and Exhibit 10.2, respectively, and incorporated herein by reference.

(d)Exhibits

CATALYST BIOSCIENCES, INC. Exhibit
EX-10.1 2 cbio-ex101_24.htm EX-10.1 cbio-ex101_24.htm Exhibit 10.1 CATALYST BIOSCIENCES,…
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About CATALYST BIOSCIENCES, INC. (NASDAQ:CBIO)

Catalyst Biosciences, Inc., formerly Targacept, Inc., is a clinical-stage biopharmaceutical company. The Company is focused on creating and developing medicines to address serious medical conditions. The Company focuses its product development efforts in the fields of hemostasis, including the treatment of hemophilia and surgical bleeding, and inflammation, including prevention of delayed graft function (DGF) in renal transplants and the treatment of dry age-related macular degeneration (dry AMD), a condition that can cause visual impairment or blindness. The Company’s advanced program is a coagulation Factor VIIa variant, CB 813d, that has completed a Phase I clinical trial in severe hemophilia A and B patients. In addition to its lead Factor VIIa program, it has approximately two other coagulation factors, a Factor IX variant, CB 2679d/ISU 304, that is in advanced preclinical development, and a Factor Xa variant that has reached the advanced lead preclinical-stage of development.