EXACT SCIENCES CORPORATION (NASDAQ:EXAS) 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 Principal Officers; Election of Directors; Appointment of Principal Officers.
On March3, 2019, the Board of Directors of Exact Sciences Corporation (the “Company”) appointed Kathleen Sebelius to serve as a ClassII director until the 2020 Annual Meeting of Stockholders. Ms.Sebelius will serve as a member of each of the Corporate Governance and Nominating Committee and the Innovation, Technology and Pipeline Committee.
Ms.Sebelius serves as CEO of Sebelius Resources LLC, a strategic consulting firm that advises private companies, non-profit organizations and financial investors. From April2009 through June2014, Ms.Sebelius served in President Barack Obama’s Cabinet as the 21st Secretary of the Department of Health and Human Services. At HHS, Sebelius managed 11 operating agencies, 90,000 employees in 50 countries around the world, and a $1 trillion budget. Prior to that Ms.Sebelius served as Governor of Kansas from 2003 to 2009. Previous elected offices include two terms as the Kansas insurance commissioner and four terms in the Kansas Legislature. Ms.Sebelius earned a master of public administration degree from the University of Kansas and a bachelor of arts degree from Trinity Washington University.
Ms.Sebelius serves as a director of Dermira,Inc. (Nasdaq: DERM), a biopharmaceutical company, Myovant Sciences Ltd. (NYSE: MYOV), a biopharmaceutical company, and the Kaiser Family Foundation. She also co-chairs the Aspen Institute Health Strategy Group and serves on advisory boards for the Dole Institute of Politics, Solera Health, Out Leadership, the Estée Lauder Foundation, and the University of Kansas College of Liberal Arts and Sciences.
Ms.Sebelius will receive compensation for her service as a director in accordance with the Company’s Non-Employee Director Compensation Policy which was filed as Exhibit10.20 to the Company’s Annual Report on Form10-K filed on February21, 2019, and is incorporated herein by reference (the “Director Compensation Policy”). to the Director Compensation Policy, in connection with her initial appointment to the Board of Directors, Ms.Sebelius received an award of restricted stock valued at $375,000.
About EXACT SCIENCES CORPORATION (NASDAQ:EXAS)
Exact Sciences Corporation is a molecular diagnostics company focused on the early detection and prevention of some forms of cancer. The Company’s product pipeline includes Lung Cancer Nodules, Pancreatic Cancer Screening, Esophageal Cancer Screening, Lung Cancer Pipeline, Pancreatic Cancer Pipeline and Esophageal Cancer Pipeline. It has developed a non invasive screening test called Cologuard for the early detection of colorectal cancer and pre-cancer. Its Cologuard test is a non invasive stool based deoxyribonucleic acid (DNA) screening test designed to detect DNA markers. In addition to DNA markers, its test includes a protein marker to detect blood in the stool, utilizing an antibody based fecal immunochemical test. The United States Food and Drug Administration (FDA) approved Cologuard for use as sDNA non-invasive colorectal cancer screening test. Cologuard is available through healthcare providers. It also focused on developing its pipeline for future products and services.
