Minerva Neurosciences, Inc. (NASDAQ:NERV) 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 |
On December14, 2016, the compensation committee (the Committee)
of the board of directors of Minerva Neurosciences, Inc. (the
Company) approved grants of restricted stock units (RSUs) to its
named executive officers as well as certain other executive
officers and employees. With respect to the named executive
officers, each received an award of RSUs that relate to an equal
number of shares of the Companys Common Stock , $0.0001 par value
per share, to the Companys Amended and Restated 2013 Equity
Incentive Plan (the Plan) as follows (the NEO Awards):
| Named Executive Officer | RSUs | |||
|
Remy Luthringer |
75,000 | |||
|
Geoffrey Race |
50,000 | |||
|
Frederick Ahlholm |
20,000 |
The NEO Awards will vest in four equal annual installments
measured from December14, 2016 such that the NEO Awards will be
fully vested on December14, 2020 subject to the recipients
continuous service with the Company through each such date. In
addition, the RSUs may be eligible for accelerated vesting if and
to the extent provided in the recipients employment agreement
with the Company.
The RSUs awarded by the Committee will be governed by the terms
of the Plan and a form Restricted Stock Unit Agreement (RSU
Agreement) in the form filed as Exhibit 10.01 of this Current
Report on Form 8-K. The form RSU Agreement is intended to serve
as the standard form agreement for RSUs issued to the Companys
eligible service providers under the Plan.
The description of the RSU Agreement in this report is qualified
in its entirety by reference to the full text of the form of RSU
Agreement, which is filed as Exhibit 10.01 of this Current Report
on Form 8-K and is incorporated by reference into this Item5.02.
| Item9.01. | Financial Statements and Exhibits |
(d) Exhibits
|
ExhibitNo. |
Description |
|
| 10.01 | Form of Restricted Stock Unit Agreement |
About Minerva Neurosciences, Inc. (NASDAQ:NERV)
Minerva Neurosciences, Inc. is a clinical-stage biopharmaceutical company. The Company is focused on the development and commercialization of a portfolio of product candidates to treat patients suffering from central nervous system (CNS) diseases. The Company’s product portfolio include MIN-101 for the treatment of schizophrenia; MIN-117 for the treatment of major depressive disorder (MDD); MIN-202 (also known as JNJ-42847922) for the treatment of insomnia disorder and adjunctive MDD, and MIN-301 for the treatment of Parkinson’s disease. MIN-101 blocks serotonin receptors and sigma receptors, over two receptors in the brain that are involved in the regulation of mood, cognition, sleep and anxiety. MIN-117 is meant to block a specific subtype of serotonin receptor called 5-HT1A. MIN-202 is a selective orexin 2 receptor antagonist it is developing in collaboration with Janssen Pharmaceutica NV. MIN-301 is a soluble recombinant form of the Neuregulin-1b1 protein. Minerva Neurosciences, Inc. (NASDAQ:NERV) Recent Trading Information
Minerva Neurosciences, Inc. (NASDAQ:NERV) closed its last trading session up +0.15 at 13.45 with 176,091 shares trading hands.
