Senomyx,Inc. (NASDAQ:SNMX) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02
On March 21, 2018, our Board of Directors (the “Board”) approved an increase to the size of the Board from seven to eight directors and appointed Tom Erdmann to the Board to fill the resulting vacancy, effective immediately. In connection with his appointment as a director, Mr. Erdmann will enter into our standard form of indemnification agreement. We are not aware of any transaction involving Senomyx, Inc. and Mr. Erdmann requiring disclosure under Item 404(a)of Regulation S-K. In connection with his appointment as a director, Mr. Erdmann received an automatic stock option grant to purchase 30,000 shares of our common stock to our 2013 Equity Incentive Plan. The stock option has an exercise price per share of $1.02, which was the fair market value of our common stock on the date of grant, and vests in equal monthly installments over a three-year period following the date of grant.
On March 22, 2018, we issued a press release announcing Mr. Erdmann’s election to the Board. A copy of the press release is furnished as Exhibit 99.1 hereto.
Additionally, Michael E. Herman, a member of our Board of Directors, notified us on March 20, 2018 of his decision to retire and to not stand for re-election at our 2018 Annual Meeting of Stockholders. Mr. Herman has served as a member of the Board since May 2005 and will continue to serve as a director until the election of directors at the 2018 Annual Meeting of Stockholders. As a result of Mr. Herman’s decision, effective on the day of the 2018 Annual Meeting of Stockholders, the size of the Board will be reduced to seven members.
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Item 9.01 |
Financial Statements and Exhibits. |
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99.1 |
Press release issued by Senomyx, Inc. on March 22, 2018. |
SENOMYX INC ExhibitEX-99.1 2 ex_108538.htm EXHIBIT 99.1 ex_108538.htm Exhibit 99.1 Senomyx Appoints Tom Erdmann to Board of Directors SAN DIEGO,…To view the full exhibit click here
About Senomyx,Inc. (NASDAQ:SNMX)
Senomyx, Inc. is focused on using taste receptor technologies to discover, develop and commercialize flavor ingredients for the packaged food, beverage and ingredient supply industries. The Company operates through development and commercialization of flavor ingredients segment. It is engaged in the discovery, development and/or commercialization of flavor ingredients through over five programs. The Sweet Taste Program is focused on developing flavor ingredients or discovering natural sweeteners. The Savory Flavor Program is focused at flavor ingredients to be used in product categories, such as ready meals, sauces, soups and snack foods. The Bitter Blocker Program is focused on flavor ingredients used in products that contain bitter tastants. The Cooling Taste Program is focused at flavor ingredients used in products that consist of cooling agents. The salt taste modifier program is focused on reduction of the level of salt contained in packaged food and beverage products.
