Infinity Pharmaceuticals, Inc. (NASDAQ:INFI) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02.
(d) On March7, 2018, our Board of Directors (the “Board”), based on the recommendation of the Nominating and Corporate Governance Committee of our Board (the “Governance Committee”), elected David Beier, J.D., as an independent director and appointed Mr.Beier to the Governance Committee. His term will begin on April1, 2018 (the “Commencement Date”), and will expire at our 2018 annual meeting of stockholders or his earlier death, resignation, or removal.
In accordance with our company’s director compensation program, Mr.Beier will receive an annual cash retainer of $40,000 for service on our Board. Mr.Beier will also receive a $7,500 retainer for service as a member of the Governance Committee. These amounts are payable upon commencement of service on the Board and are pro-rated based on the length of his initial term. In addition, under our company’s director compensation program, Mr.Beier will receive on the Commencement Date an option to purchase up to 40,000 shares of our common stock at a price equal to the closing price of our common stock on the Nasdaq Global Select Market on Commencement Date. This option, which will be granted under our 2010 Stock Incentive Plan, as amended, will vest and become exercisable over a period of two years in equal quarterly installments beginning at the end of the first quarter after the date of granted, provided that Mr.Beier continues to serve as a director.
About Infinity Pharmaceuticals, Inc. (NASDAQ:INFI)
Infinity Pharmaceuticals, Inc. is a biopharmaceutical company. The Company is engaged in the discovery, development and delivery of medicines to treat diseases. The Company develops small molecule drugs that target disease pathways for potential applications in oncology. Its product candidate is duvelisib, also known as IPI-145, is an oral, dual-inhibitor of the delta and gamma isoforms of phosphoinositide-3-kinase (PI3K), for the treatment of hematologic malignancies, or blood cancers. The Company is also developing IPI-549, which is an orally administered, clinical-stage, immuno-oncology product candidate that selectively inhibits the gamma isoform of PI3K. In addition to duvelisib, the Company focuses to generate new product candidates for potential investigation in oncology. The Company also focuses on developing DYNAMO, CONTEMPO, BRAVURA, FRESCO, DYNAMO+R, DUO, SYNCHRONY and Duvelisib + Venetoclax.
