OncBioMune Pharmaceuticals, Inc. (OTCMKTS:OBMP) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02
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Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On April 17, 2017, the Board of Directors (the Board) of
OncBioMune Pharmaceuticals, Inc. (the Company) approved the grant
of non-qualified stock options to purchase 350,000 shares of the
Companys common stock, $0.0001 par value (the Common Stock), to
each non-employee member of the Board which included Daniel S.
Hoverman and Charles L. Rice, Jr.. (the Stock Options). The Stock
Options are exercisable at an exercise price of $0.27 per share,
the closing price of the Common Stock on the day prior to the
date of the grant to the terms of a Non-Qualified Stock Option
Agreement. The Stock Options vest on the anniversary date of the
award so long as the optionee remains a director of the Company
on the vesting date (except as otherwise provided for in the
Stock Option). The Stock Option is for a 10-year term and will
terminate immediately if the director is removed for cause. The
Stock Option will remain exercisable for one year after the
directors appointment as a director with the Company is
terminated without cause or if the termination is due to death or
disability of the director. However, under no circumstances will
the exercise period of any Stock Option be extended beyond the
10-year term of the Stock Option.
The foregoing summary of the Stock Options is not a complete
description of all of the terms and conditions of the Stock
Options and is qualified in its entirety by reference to the Form
of Non-Qualified Stock Option Agreement for Directors, a copy of
which is filed herewith as Exhibit 10.1, and is incorporated
herein by reference.
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Item 9.01. Financial Statements and Exhibits.
| Exhibit Number | Description | |
| 10.1* | Form of Non-Qualified Stock Option Agreement for Directors. |
* Filed herewith.
Management contract or compensatory plan or arrangement.
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About OncBioMune Pharmaceuticals, Inc. (OTCMKTS:OBMP)
OncBioMune Pharmaceuticals, Inc., formerly Quint Media Inc., is a biotechnology company. The Company specializes in various cancer therapies. The Company focuses on developing breast and prostate cancer therapeutic vaccines, and a process for the growth of cancer cells and targeted chemotherapies. The Company’s vaccine technology is designed to stimulate the immune system to selectively attack cancer cells without harm to the patient. The Company’s product portfolio consists of approximately three target therapies and a vaccine platform that allows creation of a therapeutic vaccine for various solid tumor cancer. The Company’s lead product, ProscaVax is indicated for prostate cancer. The Company focuses on planning Phase II clinical trials of ProscaVax. The Company is also focused on development of its other technologies, such as the paclitaxel-albumin conjugate. It also has a portfolio of targeted therapies, some of which are biosimilars to drugs, including paclitaxel (Abraxane). OncBioMune Pharmaceuticals, Inc. (OTCMKTS:OBMP) Recent Trading Information
OncBioMune Pharmaceuticals, Inc. (OTCMKTS:OBMP) closed its last trading session up +0.010 at 0.235 with 234,869 shares trading hands.