ULTRAGENYX PHARMACEUTICAL INC. (NASDAQ:RARE) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On January 30, 2019, the Board of Directors (the “Board”) of Ultragenyx Pharmaceutical Inc. (the “Company”) appointed Shehnaaz Suliman, M.D. a Class I director of the Board, effective January 30, 2019, to serve until the expiration of her term at the 2020 annual meeting of stockholders. Concurrent with Dr. Suliman’s appointment, the size of the Board was fixed at nine directors, consisting of three Class I directors, three Class II directors and three Class III directors.
Dr. Suliman currently serves as Senior Vice President, Corporate Development and Strategy of Theravance Biopharma, Inc., a biopharmaceutical company, a position she has held since July 2017. Prior to her position at Theravance, Dr. Suliman worked for Genentech, Inc., a biopharmaceutical company, as Group Leader and Project Team Leader in the R&D Portfolio Management and Operations Group from September 2010 to May 2015 and then as Vice President and Global Therapeutic Head, Roche Partnering from June 2015 to July 2017. Prior to Genentech, Dr.Suliman held various management roles of increasing responsibility at Gilead Sciences,Inc., a biopharmaceutical company, between January 2005 and September 2010. Prior to Gilead, Dr.Suliman was an investment banker with Lehman Brothers and Petkevich& Partners, advising public and private companies on buy- and sell-side transactions. She is a member of the board of directors of Parvus Therapeutics,Inc., a private biopharmaceutical company. Dr.Suliman received her M.D. at the University of Cape Town Medical School, South Africa, and holds an M.B.A, with distinction, and M.Phil. in Development Studies degrees from Oxford University, where she was a Rhodes Scholar.
In connection with her appointment, Dr. Suliman will be entitled to receive compensation consistent with that of the Company’s other non-employee directors under the Company’s Non-Employee Director Compensation Policy, as such policy may be amended from time to time. In accordance with the Non-Employee Director Compensation Policy, on January 30, 2019, Dr. Suliman was granted a stock option to purchase up to 20,000 shares of common stock with an exercise price of $48.85, the closing price of the Company’s common stock on The Nasdaq Global Select Market on January 30, 2019.
Effective January 30, 2019, the Company entered into an indemnification agreement with Dr. Suliman in the form previously filed as Exhibit 10.23 to the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 24, 2014. The indemnification agreement requires the Company to indemnify Dr. Suliman to the fullest extent permitted under Delaware law against liability that may arise by reason of her service to the Company, and to advance expenses incurred as a result of any proceeding against her as to which she could be indemnified, among other things.
Dr. Suliman is not a party to any transaction with the Company that would require disclosure under Item404(a) of Regulation S-K, and there are no arrangements or understandings between Dr. Suliman and any other persons to which she was selected as a director.
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About ULTRAGENYX PHARMACEUTICAL INC. (NASDAQ:RARE)
Ultragenyx Pharmaceutical Inc. is a clinical-stage biopharmaceutical company. The Company is focused on the identification, acquisition, development, and commercialization of products for the treatment of genetic diseases. The Company is engaged in the identification, acquisition, development and commercialization of products for the treatment of rare and ultra-rare diseases segment. Its pipeline consists of two product categories: biologics, including a monoclonal antibody and enzyme replacement therapies, and small-molecule substrate replacement therapies. KRN23 is a fully human monoclonal antibody administered via subcutaneous injection. Recombinant human beta-glucuronidase (rhGUS), is an intravenous (IV), enzyme replacement therapy for the treatment of mucopolysaccharidosis 7 (MPS 7). It is developing UX007 for oral administration intended as a substrate replacement therapy. It is developing aceneuramic acid extended-release (Ace-ER) for the treatment of GNE myopathy.