SYNDAX PHARMACEUTICALS, INC. (NASDAQ:SNDX) 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; Compensation Arrangements of Certain Officers.
On January 4, 2017, the Board of Directors (the “Board”) of Syndax Pharmaceuticals, Inc., a Delaware corporation (the “Company”), unanimously voted to increase the size of the Board to ten members and to elect Pierre Legault to the Board, effectively immediately. The Board designated Mr. Legault as a Class I member to serve until the 2017 annual meeting of the Company’s stockholders, or until his successor has been duly elected and qualified, or until his earlier death, resignation or removal.
There were no arrangements or understandings between Mr. Legault and any other persons to which he was selected as a director, and there are no related person transactions within the meaning of Item 404(a) of Regulation S-K promulgated by the U.S. Securities and Exchange Commission (the “SEC”) between Mr. Legault and the Company required to be disclosed herein.
to the Company’s Non-Employee Director Compensation Policy (the “Policy”), Mr. Legault will receive annual cash compensation in the amount $35,000 for his Board service. All amounts will be paid in quarterly installments. The Company will also reimburse Mr. Legault for his travel expenses incurred in connection with his attendance at Board meetings. On January 4, 2017, the Board also granted Mr. Legault an initial one-time option to purchase 20,000 shares of the Company’s common stock (the “Option”). Subject to Mr. Legault’s continued service on the Board, the Option will vest as follows: 1/36 of the shares subject to the Option will vest monthly over a three-year period. In accordance with the Policy, as may be amended from time to time, Mr. Legault will also be eligible to receive an annual option award to purchase shares of the Company’s common stock, subject to Mr. Legault’s continued service on the Board.
In connection with his appointment to the Board, Mr. Legault entered into the Company’s standard form of Indemnification Agreement, a copy of which was filed as Exhibit 10.21 to the Registration Statement on Form S-1 (File No. 333-208861) filed with the SEC on January 4, 2016.
About SYNDAX PHARMACEUTICALS, INC. (NASDAQ:SNDX)
Syndax Pharmaceuticals, Inc (Syndax) is a clinical stage biopharmaceutical company focused on developing a pipeline of combination therapies in multiple cancer indications. The Company’s product candidate, entinostat, which was granted Breakthrough Therapy designation by the FDA following positive results from its Phase IIb clinical trial, ENCORE 301, is being evaluated in a Phase III clinical trial for advanced hormone receptor positive breast cancer. It is developing entinostat, which has direct effects on both cancer cells and immune regulatory cells, and SNDX-6352, an anti-CSF-1R monoclonal antibody, to enhance the body’s immune response on tumors that have shown sensitivity to immunotherapy. Entinostat is being evaluated as a combination therapeutic in Phase Ib/II clinical trials with Merck & Co., Inc. for non-small cell lung cancer and melanoma, with Genentech, Inc. for TNBC, and with Pfizer Inc. and Merck KGaA, Darmstadt, Germany, for ovarian cancer. SYNDAX PHARMACEUTICALS, INC. (NASDAQ:SNDX) Recent Trading Information
SYNDAX PHARMACEUTICALS, INC. (NASDAQ:SNDX) closed its last trading session down -0.02 at 6.68 with 228,748 shares trading hands.