SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 6, 2019
ALPINE IMMUNE SCIENCES, INC.
(Exact name of registrant as specified in its charter)
|(State or other jurisdiction
|(IRS Employer |
201 Elliott Avenue West, Suite 230
Seattle, WA 98119
(Address of principal executive offices, including zip code)
(Registrants telephone number, including area code)
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions:
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.
Emerging growth company ☒
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☒
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On February 6, 2019, the compensation committee (the Committee) of the board of directors (the Board) of Alpine Immune Sciences, Inc. (the Company) approved the 2018 non-equity incentive payments, 2019 base salaries and stock option grants for certain of the Companys executive officers as set forth in the table below, including the Companys named executive officers. For additional information, please see the section captioned Executive CompensationExecutive Employment Arrangements with Current Executive Officers of the Companys Definitive Proxy Statement on Schedule 14A filed with the Securities and Exchange on April 24, 2018.
|2019 Base Salary(1)||Option Grant
Mitchell H. Gold, M.D.
|Executive Chairman and Chief Executive Officer||$||130,000||$||485,000||200,000|
Mark Litton, Ph.D.
|President and Chief Operating Officer||48,700||(2)||415,000||75,000|
Stanford Peng, M.D., Ph.D.
|Executive Vice President of Research and Development, Chief Medical Officer||103,300||425,000||75,000|
|Senior Vice President and Chief Financial Officer||86,500||370,000||75,000|
The 2019 base salary figures are retroactive to January 1, 2019.
Dr. Littons 2018 non-equity incentive payment is pro-rated to reflect his commencement of employment with the Company in August 2018.
The options granted to each of the executives set forth in the table above have an exercise price equal to $6.51, the closing price per share of the Companys common stock on The Nasdaq Global Market on February 6, 2019. 25% of the shares underlying each option will vest on February 6, 2020, and 1/36th of the remaining shares underlying each option will vest each month thereafter, such that all of the shares subject to each option will be vested and exercisable on February 6, 2023, subject to each executive continuing to be a service provider through each such date.
Drs. Gold, Litton and Peng and Mr. Rickey are eligible to receive payments under the Companys 2019 non-equity incentive plan of up to 50%, 40%, 35% and 35%, respectively, of their base salary. Dr. Golds non-equity incentive payment is based solely on achievement of corporate goals. The non-equity incentive payments for Drs. Litton and Peng and Mr. Rickey are based 75% on achievement of corporate goals and 25% on achievement of individual goals.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|ALPINE IMMUNE SCIENCES, INC.|
|Name: Paul Rickey|
|Title: Senior Vice President and Chief Financial Officer|
Date: February 8, 2019