OvaScience, Inc. (NASDAQ:OVAS) 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 January 5, 2017, the Compensation Committee of the Board of Directors of OvaScience, Inc. (the “Company”) approved a retention plan (the “Retention Plan”) providing for cash bonuses and equity grants for employees of the Company, including its Chief Financial Officer, Christophe Couturier. The purpose of the Retention Plan is to incentivize employees to remain with the Company following the recently announced corporate restructuring. to the Retention Plan, participating employees will receive equity grants that vest over a two year period and cash bonuses, payable either in a lump sum or over time, subject to the employees’ remaining with the Company as of the vesting or payment dates. Mr. Couturier will receive an option to purchase 100,000 shares of the Company’s common stock, $0.01 par value per share, vesting in equal quarterly amounts over two years, and a cash bonus totaling $100,000, payable in two tranches of $50,000 each in the first pay periods following June 30, 2017 and December 31, 2017, subject to his remaining with the Company on such dates.
