PRA Health Sciences,Inc. (NASDAQ:PRAH) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

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PRA Health Sciences,Inc. (NASDAQ:PRAH) 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. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On August10, 2017, the Board of Directors (the “Board”) of PRA Health Sciences,Inc. (the “Company”), determined to increase the size of the Board to eight members and elected Alexander G. Dickinson as an independent ClassIII director of the Company, effective August10, 2017, to fill a vacancy. The Company expects Dr.Dickinson to stand for election at the annual meeting of shareholders in June2020.

Dr.Dickinson is the executive chairman of ChromaCode, a private clinical diagnostics company. Previously Dr.Dickinson was the Senior Vice President of Strategic Initiatives at Illumina,Inc. where his responsibilities included working with national governments and large institutions to develop precision medicine programs for healthcare systems. Earlier he led the team that built Illumina’s cloud-based sequencing informatics platform, BaseSpace, now one of the world’s largest genomic databases. Dr.Dickinson joined Illumina in 2010 when the company acquired Helixis, a molecular diagnostics company that he led as CEO after co-founding with Caltech Professor Axel Scherer and Nobel Laureate David Baltimore. Dr.Dickinson was previously the founder and CEO of Luxtera, a leading provider of interconnect products for cloud computing. He began his career as a researcher at AT&T Bell Labs and has been awarded over 40 patents covering a range of inventions including the camera and fingerprint CMOS chip technologies widely used in today’s smartphones. Dr.Dickinson holds a Ph.D. from the University of Adelaide, Australia, and an MBA from Columbia University in New York.

Dr.Dickinson’s compensation for his services as a director will be consistent with that of the Company’s other non-employee directors, except that his compensation will be prorated to reflect the portion of the year remaining. Accordingly, he will receive the pro rata portion of the annual board member retainer for service on the Board (currently $45,000 per year). Dr.Dickinson will also receive the pro rata portion of the Company’s annual board member equity award of restricted stock (currently based on a grant date fair value of $100,000 per year).

Other than the standard compensation arrangements described above, there are no arrangements or understandings between Dr.Dickinson and any other person to which he was elected as a director. Dr.Dickinson is not a party to any transaction that would require disclosure under Item 404(a)of Regulation S-K.

A copy of the press release issued by the Company to announce the election of Dr.Dickinson as a director is included as Exhibit99.1 to this Current Report on Form8-K.

Item 5.02. Financial Statements and Exhibits

(d) Exhibits. The exhibit listed on the ExhibitIndex accompanying this Form8-K is filed herewith.


PRA Health Sciences, Inc. Exhibit
EX-99.1 2 a17-20072_1ex99d1.htm EX-99.1 Exhibit 99.1     PRA Health Sciences Announces Appointment of New Director   August 14,…
To view the full exhibit click here

About PRA Health Sciences,Inc. (NASDAQ:PRAH)

PRA Health Sciences, Inc. is a contract research organization (CRO). The Company provides outsourced clinical development services to the biotechnology and pharmaceutical industries. The Company offers therapeutic services in areas of pharmaceutical development, including oncology, central nervous system, inflammation and infectious diseases. The Company’s integrated services include data management, statistical analysis, clinical trial management, and regulatory and drug development consulting. The Company’s service offerings include Product Registration Services, which includes Phase IIb through III product registration trials and Phase IV trials, inclusive of post-marketing commitments and registries; Strategic Solutions, which provides Embedded Solutions and functional outsourcing services, and Early Development Services, which includes Phase I through Phase IIa clinical trials and bioanalytical laboratory services.