CTI BIOPHARMA CORP. (NASDAQ:CTIC) 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
member of the Board of Directors (the Board) of CTI BioPharma
Corp. (the Company) due to health reasons. Jack W. Singer M.D.
also resigned as a member of the Board effective June 2, 2017.
Drs. Nudelman and Singers decisions to resign from the Board were
not the result of any disagreement with the Company on any matter
relating to the Companys operations, policies or practices. Dr.
Singer will remain an employee of the Company in his role as
Executive Vice President, Chief Scientific Officer, Interim Chief
Medical Officer and Global Head of Translational Medicine.
appointed Dr. David Parkinson, M.D. as a member of the Board
effective June 5, 2017, to serve until the Companys next annual
meeting of shareholders and until his successor is duly elected
and qualified. The Board determined that Dr. Parkinson is
independent to the applicable rules and regulations of the
Securities and Exchange Commission (the SEC) and NASDAQ.
accordance with the Companys Director Compensation Policy as in
effect from time to time. In connection with his appointment to
the Board and in accordance with the Companys Director
Compensation Policy as currently in effect, Dr. Parkinson was
granted, effective June 5, 2017, a stock option grant under the
Companys 2017 Equity Incentive Plan (the Plan) to purchase 50,000
shares of common stock of the Company at a per share exercise
price equal to the closing trading price of a share of the
Companys common stock on the grant date of the award. The stock
options have a maximum term of ten years from the date of grant
and will vest on the first to occur of (1) June 5, 2018, (2)
immediately prior to the first annual meeting of the Companys
shareholders that occurs in 2018 and at which one or more members
of the Board are to be elected, or (3) immediately prior to the
occurrence of a Change in Control (as such term is defined in the
Plan), subject to Dr. Parkinsons continued service through such
date or event.
a standard indemnification agreement with the Company
substantially in the form previously approved by the Board, which
is filed as Exhibit 10.1 to the Companys Current Report on Form
8-K filed with the SEC on June 2, 2014, and is incorporated by
reference herein.
the resignations of Drs. Nudelman and Singer as members of the
Board and the appointment of Dr. Parkinson as a member of the
Board as set forth in Item 5.02 of this Current Report on Form
8-K. A copy of such press release is furnished as Exhibit 99.1 to
this report. This information shall not be deemed filed for
purposes of Section 18 of the Securities Exchange Act of 1934, as
amended, and is not incorporated by reference into any filing of
the Company, whether made before or after the date hereof,
regardless of any general incorporation language in such filing.
|
Exhibit
No.
|
Description
|
Location
|
||||
|
99.1
|
Press Release of CTI BioPharma Corp., dated June 5,
2017. |
Furnished herewith.
|
||||
About CTI BIOPHARMA CORP. (NASDAQ:CTIC)
CTI BioPharma Corp. (CTI) is a biopharmaceutical company focused on the acquisition, development and commercialization of targeted therapies covering a spectrum of blood-related cancers to patients and healthcare providers. The Company is primarily focused on commercializing PIXUVRI in select countries in the European Union, for multiply relapsed or refractory aggressive B-cell non-Hodgkin lymphoma (NHL). It is also engaged in evaluating pacritinib for the treatment of adult patients with myelofibrosis. Its earlier stage product candidate, tosedostat, is an oral, once-daily aminopeptidase inhibitor that has demonstrated responses in patients with acute myeloid leukemia (AML). It also evaluates its pipeline candidate paclitaxel poliglumex (Opaxio), which targets solid tumors. It is evaluating Opaxio through cooperative group sponsored trials and investigator-sponsored trials (ISTs), such as the ongoing maintenance therapy trial in patients with ovarian cancer.
