GlycoMimetics, Inc. (NASDAQ:GLYC) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

GlycoMimetics, Inc. (NASDAQ:GLYC) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

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On March 1, 2019, Drs. M. James Barrett and John L. Magnani each notified the board of directors (the “Board”) of GlycoMimetics, Inc. (the “Registrant”) of their intent not to stand for re-election at the 2019 Annual Meeting of Stockholders to be held on May 17, 2019 (the “Annual Meeting”).Dr. Barrett also announced his intent to resign as chairman of the Board, effective as of the conclusion of the Annual Meeting.Mr. Timothy Pearson, a current member of the Board, will assume the role of chairman of the Board immediately after the effectiveness of Dr. Barrett’s resignation.Drs. Barrett and Magnani have both served on the Registrant’s Board of Directors since its inception.Dr. Magnani will continue in his role as the Registrant’s Senior Vice President, Research and Chief Scientific Officer. “On behalf of the Board and the entire GlycoMimetics team, we wish to thank Jim and John for their service and guidance on the Board over the years,” said Rachel King, Chief Executive Officer.

Following the Annual Meeting, the authorized size of the Board will be seven members. On March 1, 2019, the Board completed a process to reclassify the members of the Board into three classes of nearly equal size, following the contemplated resignations of Drs. Barrett and Magnani.To effect this change, Mr. Scott Jackson resigned as a Class I director and was immediately reappointed to the Board as a Class II director, to stand for re-election at the Annual Meeting.Mr. Jackson was also appointed as a member of both the Audit Committee and the Compensation Committee, in each case effective as of March 1, 2019.Mr. Pearson notified the Board that, in connection with his appointment as the Chairman of the Board, he intends to resign from the Audit Committee effective upon the conclusion of the Annual Meeting.Following the Annual Meeting, the Audit Committee will consist of Mr. Jackson, Mr. Daniel M. Junius (Committee Chair) and Ms. Patricia S. Andrews.

The Registrant and Mr. Jackson did not enter into any new plan, contract, arrangement or compensatory plan in connection with his resignation and reappointment, and there is no arrangement or understanding between Mr. Jackson and any other person to which he was appointed to serve as a Class II director.Mr. Jackson’s resignation and reappointment were effected solely to reclassify the Board, and for all other purposes, Mr. Jackson’s service on the Board is deemed to have continued uninterrupted without any break in service.Under the Company’s compensation policy for non-employee directors, Mr. Jackson will be entitled to receive an annual stock option grant following the Annual Meeting.

Item 7.01 Regulation FD Disclosure.

On March 5, 2019, the Company issued a press release announcing the changes on the Board of Directors as described in Item 5.02 above. A copy of this press release is furnished herewith as Exhibit99.1 to this Current Report. The information contained in the press release furnished as Exhibit 99.1 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and is not incorporated by reference into any of the Company’s filings under the Securities Act of 1933, as amended, or the Exchange Act, whether made before or after the date hereof, except as shall be expressly set forth by specific reference in any such filing.

Item 9.01 Exhibits.

(d)Exhibits

GLYCOMIMETICS INC Exhibit
EX-99.1 2 ex-99d1.htm EX-99.1 glyc_Ex99_1 Exhibit 99.1   GLYCOMIMETICS ANNOUNCES TRANSITION PLAN FOR BOARD OF DIRECTORS   · Current Board Member Tim Pearson to become Board Chair effective at the close of the company’s annual meeting on May 17,…
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About GlycoMimetics, Inc. (NASDAQ:GLYC)

GlycoMimetics, Inc. is a clinical-stage biotechnology company. The Company focuses on the discovery and development of glycomimetic drugs. The Company operates through the identification and development of glycomimetic compounds segment. The Company is developing its lead drug candidate, GMI-1070 (Rivipansel), for the treatment of vaso-occlusive crisis (VOC), a debilitating and painful condition that occurs periodically throughout the life of a person with sickle cell disease. The Company is developing GMI-1271, a specific E-selectin inhibitor, to be used in combination with chemotherapy to treat patients with acute myeloid leukemia (AML), multiple myeloma (MM) and other hematologic cancers. The Company has an additional drug candidate, GMI-1359, that targets both E-selectin and a chemokine receptor, CXCR4. The Company is also advancing other preclinical-stage programs, which include small-molecule glycomimetic compounds that inhibit the proteins galectin-3 and galectin-9.

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