SIERRA ONCOLOGY, INC. (NASDAQ:SRRA) 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 October23, 2017, the Board of Directors (the “Board”) of Sierra Oncology, Inc. (the “Company”)appointed Andrew Allen to the Board as a ClassII director. There is no arrangement or understanding with any person to which Mr.Allen was appointed as a member of the Board. There are also no family relationships between Mr.Allen and any director or executive officer of the Company and he has no direct or indirect material interest in any transaction required to be disclosed to Item404(a) of Regulation S-K.
Mr.Allen will receive an annual cash retainer of $40,000 per year in accordance with the Company’s existing non-employee director compensation program. In addition, upon the first day of the Company’s next open trading window, Mr.Allen will be granted a stock option to purchase 50,000 shares of the Company’s common stock at an exercise price equal to the closing sale price of the Company’s common stock as reported by The NASDAQ Global Market on such date. The option grant will vest monthly over one year, subject to Mr.Allen’s continued service to the Company.
The Company also intends to enter into its standard form of indemnification agreement with Mr.Allen.A form of the indemnification agreement was previously filed by the Company as Exhibit 10.1 to the Company’s Registration Statement on Form S-1 filed with the Securities and Exchange Commission on July15, 2015.
The Company issued a press release announcing Mr.Allen’s appointment to the Board on October25, 2017, a copy of which is attached to this Form8-K as Exhibit99.1.
| Item 5.02 | Financial Statements and Exhibits. |
(d) Exhibits.
|
Exhibit Number |
Description |
| 99.1 | Press Release dated October25, 2017. |
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Sierra Oncology, Inc. ExhibitEX-99.1 2 d477242dex991.htm EX-99.1 EX-99.1 Exhibit 99.1 Sierra Oncology Appoints Dr. Andrew Allen to its Board of Directors – Dr. Allen,…To view the full exhibit click here
About SIERRA ONCOLOGY, INC. (NASDAQ:SRRA)
Sierra Oncology, Inc., formerly ProNAi Therapeutics, Inc., is a clinical-stage drug development company. The Company’s lead drug candidate, SRA737, is orally bioavailable small molecule inhibitor of Checkpoint kinase 1 (Chk1), a key cell cycle checkpoint and central regulator of the deoxyribonucleic acid (DNA) Damage Response (DDR) network. SRA737 is being investigated in approximately two Phase I clinical trials in patients with advanced cancer. Sierra Oncology is also advancing SRA141, an orally bioavailable small molecule inhibitor of the cell division cycle 7 kinase (Cdc7) kinase undergoing preclinical development. Sierra is building a range of pipeline of various oncology assets against targets at the edge of cancer biology. The Company’s SRA737 and SRA141 target the DDR network, a scientifically approach with far-reaching potential across oncology. SRA141 is an orally available small molecule inhibitor of Cdc7.
