INTELLIA THERAPEUTICS, INC. (NASDAQ:NTLA) 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; Compensatory Arrangements of Certain Officer.
On December12, 2017, the Board of Directors of Intellia Therapeutics, Inc. (the “Company”) appointed John Leonard, M.D., as President and Chief Executive Officer of the Company, effective January1, 2018 (the “Effective Date”). Dr.Leonard currently serves as the Company’s Executive Vice President, Research and Development and previously served as the Company’s Chief Medical Officer from July 2014 to January 2017. He has served on the Company’s Board of Directors since July 2014.
Dr.Leonard replaces Nessan Bermingham, Ph.D., as President and Chief Executive Officer of the Company. Dr.Bermingham resigned from this position and as a member of the Board of Directors effective as of December31, 2017. Subject to the Company’s receipt of a general release of claims and to the terms of a separation agreement, Dr.Bermingham will receive (i)continuation of his current base salary for 12 months following his separation from the Company, (ii)a one-time payment equal to his target 2017 cash bonus, and (iii)a monthly cash payment equal to the monthly employer contribution that the Company would have made to provide health insurance to him if he had remained employed by the Company until the earlier of 12 months following December31, 2017 or the date he becomes eligible for health benefits through another employer or otherwise becomes ineligible for COBRA.In addition, (x)the unvested portions of Dr.Bermingham’s outstanding restricted stock awards, stock options and other stock-based awards that would have vested in the twelve (12)months following December31, 2017 shall accelerate and become fully exercisable or nonforfeitable on December31, 2017; and (y)any vested stock option and other stock-based awards as of December31, 2017 shall be fully exercisable until December31, 2018.
Item 5.02 Other Events.
On December18, 2017, the Company issued a press release announcing the appointment of Dr.Leonard as President and Chief Executive Officer, and Dr.Bermingham’s resignation. A copy of the press release is attached hereto as Exhibit 99.1 and incorporated by reference into this Item 5.02.
Item 5.02 Financial Statements and Exhibits.
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Number |
Description |
| 99.1 | Press release dated December18, 2017. |
Intellia Therapeutics, Inc. ExhibitEX-99.1 2 d465337dex991.htm EX-99.1 EX-99.1 Exhibit 99.1 Intellia Therapeutics Names John Leonard,…To view the full exhibit click here
About INTELLIA THERAPEUTICS, INC. (NASDAQ:NTLA)
Intellia Therapeutics, Inc. is a genome editing company. The Company is focused on developing therapeutics utilizing a biological tool known as CRISPR/Cas9. The CRISPR/Cas9 genome editing system includes two components: the Cas9 protein and the guide RNA sequence. The Cas9 protein acts like a pair of molecular scissors that initiates the natural cellular repair process to knockout, repair or insert a gene. The guide RNA sequence recognizes and directs the Cas9 to a specific target deoxyribonucleic acid (DNA) sequence. The Company’s sentinel in vivo programs focus on the use of Lipid Nanoparticle (LNPs) for delivery of the CRISPR/Cas9 complex to the liver. The Company’s division, eXtellia Therapeutics, is focused on the application of CRISPR/Cas9 genome editing in the fields of immuno-oncology and autoimmune and inflammatory diseases. The Company’s subsidiary is Intellia Securities Corp. As of September 30, 2016, the Company had not generated any revenue.