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 OfficersItem 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensation Arrangements of Certain Officers.
On July 25, 2018, the Compensation Committee of the Board of Directors of Immune Design Corp. (the “Company”) granted performance-based restricted stock units (“Performance-Based RSUs”) for the Company’s named executive officers (each, an “Executive”) to the Company’s 2014 Omnibus Incentive Plan, which grants are set forth in the table below.
|
Name and Title |
Performance-Based RSUs |
|
Carlos Paya, M.D., Ph.D. President and Chief Executive Officer |
108,450 |
|
Stephen Brady Executive Vice President, Strategy and Finance |
22,500 |
|
Jan ter Meulen, M.D. Chief Scientific Officer |
18,000 |
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. The Performance-Based RSUs will vest on or before December 31, 2018, as to either fifty percent (50%) or one hundred percent (50%) of the total shares, upon the achievement of the performance criteria by such date. If the performance criteria are not met by December 31, 2018, the corresponding Performance-Based RSUs will expire.
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).