Five Prime Therapeutics, Inc. (NASDAQ:FPRX) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02
On November20, 2017, Five Prime Therapeutics, Inc. (“FivePrime”) and Lewis T. Williams entered into a written offer letter (the “Offer Letter”) in connection with Dr.Williams’ transition from his position as FivePrime’s President, Chief Executive Officer and Chairman of the Board of Directors (the “Board”) to Executive Chairman of the Board, effective January1, 2018.
to the Offer Letter, Dr.Williams will generally work an 80% schedule of four days per workweek after January1, 2018. Dr.Williams will receive an annual base salary of $300,000 and will be eligible to participate in FivePrime’s annual bonus program, with a target annual bonus equal to 40% of his base salary.
The foregoing description of the Offer Letter is qualified in its entirety by reference to the Offer Letter, which FivePrime will file as exhibits to its Form 10-K for the fiscal year ending December31, 2017.
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About Five Prime Therapeutics, Inc. (NASDAQ:FPRX)
Five Prime Therapeutics, Inc. (Five Prime) is a clinical-stage biotechnology company focused on discovering and developing protein therapeutics. The Company has three product candidates in clinical development covering multiple potential indications. It focuses on immuno-oncology, an area in which it has clinical and discovery programs, and product and discovery collaborations. The Company seeks to engage third-party collaborators to assist it in developing companion diagnostics for its clinical programs. The Company’s product candidates include FPA008, FPA144 and FP-1039/GSK3052230. The FPA008 is an antibody that inhibits colony stimulating factor-1 (CSF1), receptor (CSF1R). The FPA144 is an antibody that inhibits fibroblast growth factor receptor 2b (FGFR2b). FP-1039 is a protein therapeutic designed to trap and neutralize cancer-promoting fibroblast growth factors (FGFs).