PROTAGONIST THERAPEUTICS,INC. (NASDAQ:PTGX) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

ME Staff 8-k
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PROTAGONIST THERAPEUTICS,INC. (NASDAQ:PTGX) 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 PRINCIPAL OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF PRINCIPAL OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS

(e)Compensatory Arrangements of Principal Executive Officer, Principal Financial Officer and Named Executive Officers

2017 Bonuses, 2018 Salaries and Target Bonuses, and Equity Awards

On February21, 2018, the Compensation Committee (the “Committee”) of the Board of Directors of Protagonist Therapeutics,Inc. (the “Company”) approved (i)cash bonuses with respect to 2017 performance, (ii)annual salaries for 2018 (effective retroactively to January1, 2018), (iii)target performance bonus percentages for 2018, and (iv)equity awards for the Company’s Chief Executive Officer, Chief Financial Officer and other named executive officers (as defined in Item 402(a)(3)of Regulation S-K promulgated by the Securities and Exchange Commission (the “SEC”).

The following table sets forth the amounts approved by the Committee for each of the named individuals set forth below:

EquityAwards(1)

NameandTitle

2017Bonus

2018 Salary

2018Target Bonus (%of

Salary)

Options(2)

Restricted StockUnits

(3)

Dinesh V. Patel, Ph.D. President and Chief Executive Officer

$

309,000

$

520,000

%

150,000

25,000

David Y. Liu, Ph.D. Chief Scientific Officer

$

186,000

$

410,000

%

56,500

9,500

Richard S. Shames, M.D. Chief Medical Officer

$

179,000

$

400,000

%

37,500

6,500

Thomas P. O’Neil Chief Financial Officer

$

131,000

$

345,000

%

34,000

6,000

(1)The grant date of the equity awards will be February28, 2018. The Committee granted the equity awards to the Company’s 2016 Equity Incentive Plan and the related forms of Option Agreement, Restricted Stock Unit Agreement and Grant Notice previously filed or to be filed with the SEC.

(2)Each option will have an exercise price equal to the closing price of the Company’s common stock on The Nasdaq Global Market on the grant date. The shares underlying each option will vest as to 25% after one year following the grant date, and the remainder will vest in equal monthly installments over the following three years.

(3)The shares subject to each restricted stock unit award will vest in equal annual installments over four years from the grant date.


About PROTAGONIST THERAPEUTICS,INC. (NASDAQ:PTGX)

Protagonist Therapeutics, Inc. is a clinical-stage biopharmaceutical company with a peptide technology platform focused on discovering and developing new chemical entities (NECs) to address significant unmet medical needs. The Company’s product pipeline includes PTG-100, PTG-200 and PTG-300. Its primary focus is on developing oral peptide drugs that target biological pathways also targeted by marketed injectable antibody drugs. PTG-100 is an oral, alpha-4-beta-7 (a4b7) integrin-specific antagonist peptide product candidate, which has completed a Phase I clinical trial in normal healthy volunteers (NHVs). PTG-100 is being developed for treatment of moderate-to-severe ulcerative colitis (UC). PTG-200 is an oral Interleukin-23 receptor (IL-23R) antagonist being developed for moderate-to-severe Crohn’s disease (CD). PTG-200 is in investigational new drug (IND) enabling studies. PTG-300 is an injectable hepcidin mimetic for treatment of iron overload related rare diseases.