ACHAOGEN, INC. |
(Exact name of registrant as specified in its charter) |
Delaware | 001-36323 | 68-0533693 | ||
(State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification Number) |
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: | |
o | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
o | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
o | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
o | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
• | for the Company’s chief executive officer, 12 months of base salary paid in a single cash lump sum, 12 months of COBRA reimbursement and accelerated vesting of equity awards with respect to the number of shares that would have vested during the 12 months following the executive’s termination date; and |
• | for the Company’s chief financial officer and chief medical officer, nine months of base salary paid in a single cash lump sum, nine months of COBRA reimbursement and accelerated vesting of equity awards with respect to the number of shares that would have vested during the nine months following the executive’s termination date. |
• | for the Company’s chief executive officer, 18 months of base salary paid in a single cash lump sum, 100% of the executive’s target bonus paid in a single cash lump sum, assuming achievement of performance goals at 100% of target, 18 months of COBRA reimbursement and full vesting acceleration for equity awards held by the executive; and |
• | for the Company’s chief financial officer and chief medical officer, 12 months of base salary paid in a single cash lump sum, 100% of the executive’s target bonus paid in a single cash lump sum, assuming achievement of performance goals at 100% of target, 12 months of COBRA reimbursement and full vesting acceleration for equity awards held by the executive. |
ACHAOGEN, INC. | ||
By: | /s/ Derek A. Bertocci | |
Derek A. Bertocci | ||
Senior Vice President and Chief Financial Officer |