RIGEL PHARMACEUTICALS,INC. (NASDAQ:RIGL) 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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RIGEL PHARMACEUTICALS,INC. (NASDAQ:RIGL) 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.

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On May24, 2018, Dean Schorno was appointed to serve as the Chief Financial Officer of Rigel Pharmaceuticals,Inc. (“Rigel”), contingent upon and effective on his first day employment with Rigel, which was May29, 2018.

Mr.Schorno, age 55, joined Rigel from 23andMe,Inc. (“23andMe”), a consumer genetics and research company, where he had served as the Chief Financial Officer since 2015. Before joining 23andMe, Mr.Schorno was the Chief Financial Officer of Adaptive Biotechnologies, a company focusing on combining Next Generation Sequencing and expert bioinformatics to profile T- and B-cell receptors of the adaptive immune system, from 2014 to 2015. From 2001 to 2015, Mr. Schorno served in various roles with Genomic Health, a company focusing on genetic research specifically in cancer detection, most recently as Chief Financial Officer. Mr.Schorno is a certified public accountant. Mr.Schorno holds a B.S. in Business Administration from the University of California, Berkeley and an M.S. in Taxation from Golden Gate University.

There are no family relationships between Mr.Schorno and any director, executive officer, or any person nominated or chosen by Rigel to become a director or executive officer. Mr.Schorno is not a party to any current or proposed transaction with Rigel for which disclosure is required under Item 404(a)of Regulation S-K. Rigel has also entered into its standard form of indemnification agreement with Mr.Schorno.

Mr.Schorno will receive an annual salary of $400,000, a sign-on bonus of $50,000 and will have a bonus target of 50% of his base salary paid on achievement of corporate goals.

In addition to the cash compensation referenced in the preceding paragraph, Mr.Schorno will receive stock option grants to purchase 335,000 shares of the Company’s common stock (the “Option Grants”). 50% of the shares subject to the Option Grants will vest over a four-year period commencing on Mr. Schorno’s start date, and 50% of the shares subject to the Option Grants will vest based on the achievement of certain performance conditions.

Additionally, Mr. Schorno is eligible to participate in Rigel’s Executive Severance Plan.


About RIGEL PHARMACEUTICALS,INC. (NASDAQ:RIGL)

Rigel Pharmaceuticals, Inc. is a clinical-stage biotechnology company. The Company is engaged in the discovery and development of targeted drugs in the therapeutic areas of immunology, oncology and immuno-oncology. The Company’s clinical programs include fostamatinib, an oral spleen tyrosine kinase (SYK) inhibitor, which is in Phase III clinical trials for immune thrombocytopenic purpura (ITP); a Phase II clinical trial for autoimmune hemolytic anemia (AIHA), and a Phase II clinical trial for IgA nephropathy (IgAN). It has approximately two oncology product candidates in Phase I development. The Company is also engaged in conducting research in the disease areas of inflammation/immunology, and muscle wasting/muscle endurance, among others. Its product pipeline includes R348, which is a topical ophthalmic Janus kinase (JAK)/SYK inhibitor. The R348 product candidate is in Phase II clinical trials for the treatment of dry eye in patients with ocular graft-versus-host disease (GvHD).