IMMUNE DESIGN CORP. (NASDAQ:IMDZ) 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; Compensation Arrangements of Certain Officers.

On January 4, 2018, the Compensation Committee (the “Committee”) of the Board of Directors of Immune Design Corp. (the “Company”) approved 2017 cash bonuses, 2018 annual base salaries and equity awards for the Company’s named executive officers (each, an “Executive”), as set forth below. Bonus targets for the Executives were unchanged.

2017 Cash Bonuses and 2018 Annual Base Salaries

The Committee approved the following 2017 cash bonuses and 2018 annual base salaries, which salaries are effective January 1, 2018:

Equity Awards

The Committee approved and granted time-based restricted stock units (“Time-Based RSUs”), performance-based restricted stock units (“Performance-Based RSUs”) and options to purchase shares of the Company’s common stock to the Executives as annual equity incentive awards granted to the Company’s 2014 Omnibus Incentive Plan, which grants are set forth in the table below.

Each Time-Based RSU granted to each Executive represents the right to receive one share of the Company’s common stock and has a vesting commencement date of January 4, 2018. One-third of the Time-Based RSUs granted to each Executive will vest on each anniversary of the vesting commencement date over a three-year period, subject to the Executive’s continued service with the Company.

Each Performance-Based RSU granted to each Executive represents the right to receive one share of the Company’s common stock at a future date, with vesting subject to achievement of certain performance criteria set forth in the Performance-Based RSU agreements. Fifty percent of the Performance-Based RSUs will vest on each of June 30, 2018 and December 31, 2018 upon the achievement of the performance criteria by such date. If the performance criteria are not met by the specified date, the corresponding Performance-Based RSUs will expire.

The stock option granted to each Executive has (i) a vesting commencement date of January 4, 2018, (ii) an exercise price of $4.05 per share, the closing price of the Company’s common stock on January 4, 2018 and (iii) a term of 10 years from the grant date. Twenty-five percent of the shares subject to the option granted to each Executive will vest on the one-year anniversary of the vesting commencement date, and the remainder will vest in equal monthly installments over the subsequent two-year period, subject to the Executive’s continued service with the Company.

About IMMUNE DESIGN CORP. (NASDAQ:IMDZ)

Immune Design Corp. is a clinical stage immunotherapy company. The Company focuses on cancer with in vivo approaches designed to enable the body’s immune system to fight disease. The Company is developing multiple product candidates from its discovery platforms, including ZVex and GLAAS. ZVex is a discovery platform that uses a vector to generate product candidates designed to create cytotoxic T cells (CTLs) in vivo. The ZVex vector is a delivery system based on a hybrid, re-engineered virus designed to carry the genetic information of selected tumor antigen in whole or selected epitopes selectively to dendritic cells (DCs) in the skin. When injected into a cancer patient, a ZVex-based product candidate is designed to interact only with these DCs, delivering the tumor antigen in the form of ribonucleic acid (RNA). GLA Adjuvant Systems (GLAAS) is a discovery platform that works in vivo and is based on a synthetic molecule called glucopyranosyl lipid A (GLA).