MEI Pharma, Inc. (NASDAQ:MEIP) 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.
On July12, 2018, the Board of Directors of MEI Pharma, Inc. (the “Company”) approved the promotion of David M. Urso, J.D. to Chief Operating Officer, effective immediately.
Mr.Urso has been the Company’s Senior Vice President of Corporate Development and General Counsel since March 2014. In addition to his new position, Mr.Urso will retain his existing responsibilities. The information with respect to Mr.Urso required by Items 401(b), (d), (e) and Item 404(a) of Regulation S-K set forth in the Company’s Definitive Proxy Statement for its Annual Meeting of Stockholders held on November30, 2017 filed with the Securities and Exchange Commission on October16, 2017 (the “Proxy Statement”) is hereby incorporated by reference herein.
In connection with the promotion, Mr.Urso’s annual base salary has increased to $426,000. His annual target bonus will remain 40% of his annual base salary and will apply to the increased base salary for the Company’s fiscal year ending June30, 2019. The Company and Mr.Urso also entered into an amendment to the terms of his Employment Letter, dated March6, 2014 (the “Employment Agreement”) to which the cash compensation payable to Mr.Urso in connection with a termination of his employment by the Company without Cause (as defined in the Employment Agreement) or by Mr.Urso with Good Reason (as defined in the Employment Agreement) increased from nine months of his annual base salary to twelve months of his annual base salary and the portion of his options the vesting of which would be accelerated in connection therewith increased from the number of shares as to which such options would vest during the nine months following termination of employment to the number of shares as to which such options would vest during the twelve months following termination of employment. Mr.Urso also received an award of 220,000 options to purchase shares of the Company’s common stock at an exercise price of $4.28, of which 90,000 of such options were granted in connection with his promotion and 130,000 of such options were granted as annual compensation. Except as described in this paragraph, the terms of Mr.Urso’s compensation remain unchanged from the terms described in the Proxy Statement, the description of which is hereby incorporated by reference herein.
Item 5.02. Financial Statements and Exhibits.
On July16, 2018, the Company issued a press release announcing Mr.Urso’s promotion. A copy of the press release is filed as Exhibit 99.1 hereto and is hereby incorporated by reference herein.
Item 5.02. Financial Statements and Exhibits.
(d) Exhibits
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MEI Pharma, Inc. ExhibitEX-10.1 2 d510012dex101.htm EXHIBIT 10.1 Exhibit 10.1 EXHIBIT 10.1 July 12,…To view the full exhibit click here
About MEI Pharma, Inc. (NASDAQ:MEIP)
MEI Pharma, Inc. is an oncology company. The Company is focused on the clinical development of drugs and therapies for treatment of cancer. The Company’s portfolio of clinical drug candidates includes Pracinostat, ME-344 and PWT143. Pracinostat is an orally available histone deacetylase (HDAC) inhibitor indicated for the treatment of advanced hematologic diseases, such as acute myeloid leukemia (AML) and myelodysplastic syndrome (MDS). ME-344 is an isoflavone-based mitochondrial inhibitor targeting a mitochondrial component of the terminal respiratory chain complex in rapidly proliferating cells. PWT143 is an oral inhibitor of phosphatidylinositide 3-kinase (PI3K) delta, a molecular target that plays a critical role in the proliferation and survival of hematologic cancer cells. Pracinostat has been tested in multiple Phase I and Phase II clinical trials in advanced hematologic malignancies and solid tumor indications.
