INTREXON CORPORATION (NYSE:XON) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item5.02. Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.
As previously reported in December 2016, in connection with the
extension of the term of the Services Agreement, the Compensation
Committee and the independent members of Intrexon Corporations
(Intrexon) Board of Directors (the Board) approved the
continuation of Randal J. Kirks compensation arrangement through
March31, 2017, to which he receives as compensation a payment of
$200,000 per month in fully-vested shares of Intrexon Common
Stock to the terms of a Restricted Stock Unit Agreement,
effective as of January1, 2017, by and between Intrexon and
Mr.Kirk (the RSU Agreement). The RSU Agreement had a term of
three months and expires on March31, 2017.
In connection with the expiration of the RSU Agreement, effective
as of April1, 2017, the Compensation Committee and the
independent members of the Board approved the continuation of
Mr.Kirks compensation arrangement for an additional twelve months
until March31, 2018. Under this arrangement, Mr.Kirk will receive
as compensation a payment of $200,000 per month, which payment
will be made in fully-vested shares of Intrexon Common Stock. The
shares of Common Stock will be valued based on the last trading
day of the applicable month and will be issued to the terms of a
new Restricted Stock Unit Agreement (the New RSU Agreement),
effective as of April1, 2017, under the Intrexon 2013 Omnibus
Incentive Plan, as amended. The terms of the New RSU Agreement
are substantially similar to the RSU Agreement except that it has
a term of twelve months and expires on March31, 2018.
The foregoing description of the New RSU Agreement does not
purport to be complete and is subject to, and qualified in its
entirety by reference to, the New RSU Agreement which is attached
hereto as Exhibit 10.1 and incorporated by reference herein.
Item9.01. Financial Statements and Exhibits.
(d)Exhibits.
| 10.1 |
Intrexon Corporation 2013 Amended and Restated Omnibus Incentive Plan, as amended, Restricted Stock Unit Agreement, by and between Intrexon Corporation and Randal J. Kirk, effective as of April1, 2017 |
About INTREXON CORPORATION (NYSE:XON)
Intrexon Corporation (Intrexon) forms collaborations to create biologically based products and processes using synthetic biology. The Company designs, builds and regulates gene programs, which are deoxyribonucleic acid (DNA) sequences that consist of genetic components. The Company’s synthetic biology capabilities include the ability to control the amount, location and modification of biological molecules to control the function and output of living cells and optimize for desired results at an industrial scale. Its technologies combine the principles of precision engineering, statistical modeling, automation and production at an industrial scale. The Company’s technologies include UltraVector gene design and fabrication platform, and its associated library of modular DNA components; Cell Systems Informatics; RheoSwitch inducible gene switch; AttSite Recombinases; Protein Engineering; Laser-Enabled Analysis and Processing, or LEAP, and ActoBiotics platform. INTREXON CORPORATION (NYSE:XON) Recent Trading Information
INTREXON CORPORATION (NYSE:XON) closed its last trading session up +0.10 at 19.82 with 790,908 shares trading hands.
