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 OfficersItem 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
As previously reported in March 2017, the Compensation Committee and the independent members of Intrexon Corporation’s (“Intrexon”) Board of Directors (the “Board”) approved the continuation of Randal J. Kirk’s compensation arrangement through March31, 2018, 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 April1, 2017, by and between Intrexon and Mr.Kirk (the “RSU Agreement”). The RSU Agreement, which is further described in Intrexon’s proxy statement for the 2017 annual meeting of shareholders, had a term of twelve months and expires on March31, 2018.
In connection with the expiration of the RSU Agreement, effective as of April1, 2018, the Compensation Committee and the independent members of the Board approved the continuation of Mr.Kirk’s compensation arrangement for an additional twelve months until March31, 2019. 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 subject to a three-year lockup on resale from the date of issuance. 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, 2018, under the Intrexon 2013 Omnibus Incentive Plan, as amended. The terms of the New RSU Agreement are identical to the RSU Agreement except that it expires on March31, 2019.
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.
|Item 5.02.||Financial Statements and Exhibits.|
INTREXON CORP ExhibitEX-10.1 2 d564645dex101.htm EX-10.1 EX-10.1 Exhibit 10.1 INTREXON CORPORATION AMENDED AND RESTATED 2013 OMNIBUS INCENTIVE PLAN,…To view the full exhibit click
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.