CymaBay Therapeutics, Inc. (NASDAQ:CBAY) 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.

On April 27, 2017, the Compensation Committee (the “Committee”) of the Board of Directors of CymaBay Therapeutics, Inc. (the “Company”), as a result of the recent promotion of Sujal Shah as the Company’s Interim President and Chief Executive Officer, increased Mr. Shah’s annual base salary to $400,000, and granted Mr. Shah an option to purchase 90,000 shares of the Company’s common stock with an exercise price per share equal to the fair market value of a share of the Company’s common stock on the date of grant. The option will vest over an eight month period, subject to continuous service to the Company.

On April 27, 2017, the Board of Directors of the Company promoted Daniel Menold to the position of Vice President, Finance and, in that position, he has become the Company’s principle financial officer and principal accounting officer. Mr. Menold, age 47, has served as the Corporate Controller of CymaBay since January 2014. From 2011 to 2013, Mr. Menold served as Corporate Controller for Zoosk, Inc., a high growth, technology start-up, where he directed the accounting and reporting function. From 2005 to 2010, Mr. Menold was employed with Affymetrix, a public life sciences tools company, serving as Controller and Director of Accounting. Prior to 2005, Mr. Menold held accounting and finance positions of increasing responsibility at public and private life sciences and high technology companies in the Silicon Valley. Mr. Menold began his career in public accounting at Ernst & Young where he served life sciences and high technology companies as an audit manager. Mr. Menold received a M.S. in accounting and B.S. in finance from The University of Virginia McIntire School of Commerce.

On May 3, 2017, the Committee, as a result of the recent promotion of Mr. Menold to the position of Vice President, Finance, increased Mr. Menold’s annual base salary to $250,000, and granted Mr. Menold an option to purchase 35,000 shares of the Company’s common stock with an exercise price per share equal to the fair market value of a share of the Company’s common stock on the date of grant. The option will vest over a four-year period, subject to continuous service to the Company.

About CymaBay Therapeutics, Inc. (NASDAQ:CBAY)

CymaBay Therapeutics, Inc. is a clinical-stage biopharmaceutical company. The Company is focused on developing therapies to treat metabolic diseases, including serious rare and orphan diseases. The Company’s product candidates include Arhalofenate, MBX-8025 and MBX-2982. Arhalofenate is used to treat gout. MBX-8025 is a selective agonist for the peroxisome proliferator-activated receptor delta (PPARd). The Company has completed over five Phase I clinical studies and a Phase II clinical study for MBX-8025. MBX-2982 is an oral, G-protein coupled receptor agonist being evaluated as a therapeutic agent for patients with Type 2 diabetes (T2DM), with a dual mechanism, including direct effects and indirect effects mediated by gastrointestinal hormones known as incretins on glucose-dependent insulin secretion, as well as potentially beneficial effects on islet health. The Company has completed over four Phase I clinical studies and a Phase II clinical study for MBX-2982.

CymaBay Therapeutics, Inc. (NASDAQ:CBAY) Recent Trading Information

CymaBay Therapeutics, Inc. (NASDAQ:CBAY) closed its last trading session up +0.04 at 3.45 with 118,742 shares trading hands.