SERES THERAPEUTICS, INC. (NASDAQ:MCRB) 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 July7, 2017, the Board of Directors (the “Board”) of the Company increased the size of the Board from seven to eight directors, and elected Willard H. Dere, M.D. as a ClassI director of the Company. Dr.Dere has been appointed to serve on the Audit Committee of the Board (the “Audit Committee”).
Dr.Dere will participate in the Company’s standard compensation program for non-employee directors, including an annual retainer of $35,000, an annual retainer for service on the Audit Committee of $7,500, and an initial award of an option to purchase 30,000 shares of the Company’s common stock (the “Initial Award”). The Initial Award has an exercise price equal to $11.14, the closing price per share of the Company’s common stock on the date of grant, and will vest and become exercisable in equal installments on each of the first four anniversaries of the date of grant, subject to continued service on the Board through each such vesting date. Dr.Dere has also entered into the Company’s standard indemnification agreement for directors and officers.
About SERES THERAPEUTICS, INC. (NASDAQ:MCRB)
Seres Therapeutics, Inc. is a microbiome therapeutics platform company. The Company is engaged in developing a class of biological drugs, which is referred as Ecobiotic microbiome therapeutics. The Company is focused on implementing its microbiome therapeutics platform to develop Ecobiotic microbiome therapeutics that treats dysbiosis in the colonic microbiome. SER-109 is its lead product candidate, which is designed to prevent further recurrences of Clostridium difficile infection (CDI). The Company is developing additional product candidates, including SER-262 to prevent an initial recurrence of primary CDI, SER-287 to treat inflammatory bowel disease (IBD), including ulcerative colitis, and SER-155 to treat enteric bacterial pathogens. The Company is also conducting research on metabolic diseases, such as early-stage, non-insulin dependent diabetes; obesity and metabolic syndrome; other inflammatory diseases; cancer chemotherapy and immune suppression, and rare genetic diseases.
