Adaptimmune Therapeutics plc filed SEC Form 8-K: Leadership Update, Financial Statements and Exhibits
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On August 15, 2025, Adaptimmune, LLC (“Adaptimmune”), a wholly-owned subsidiary of Adaptimmune Therapeutics plc (the “Company”), entered into a separation agreement (the “Separation Agreement”) with Cintia Piccina whose employment as the Company’s Chief Commercial Officer was terminated effective as of August 8, 2025 (the “Separation Date”) by reason of redundancy. The Separation Agreement will be effective as of August 23, 2025 (the “Effective Date”).
The Separation Agreement provides that Adaptimmune will pay Ms. Piccina a severance payment equal to 12 months base salary for 2025, in the amount of $473,800, less all applicable deductions and withholdings. This payment will be made in lump-sum form on the next available month-end pay date following the Effective Date provided that Ms. Piccina has not validly revoked the Separation Agreement before the Effective Date. Ms. Piccina acknowledged and agreed that the payment is in full satisfaction of the Company’s obligations under its Executive Severance Policy dated March 10, 2017, as amended. Market value options covering ordinary shares (the “Market Value Options”) granted to Ms. Piccina pursuant to the rules of the Adaptimmune Therapeutics plc Employee 2016 Share Option Scheme and related plan documents (collectively, the “Plan”) continued to vest until the Separation Date, subject to the relevant Plan rules and in accordance with the respective vesting schedules. Ms. Piccina will be permitted a period expiring on January 30, 2032 to exercise vested Market Value Options held by Ms. Piccina over 1,125,648 ordinary shares and a period of 12 months from the Separation Date to exercise any other Market Value Options that have vested by the Separation Date. The further terms and conditions of her share options are governed by the relevant Plan rules.
The foregoing summary of the Separation Agreement is qualified in its entirety by reference to the complete text of the Separation Agreement, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. |
| Description of Exhibit |
10.1 | Separation Agreement dated as of August 15, 2025 by and between Adaptimmune, LLC and Cintia Piccina. | |
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
ADAPTIMMUNE THERAPEUTICS PLC | |||
Date: August 15, 2025 | By: | /s/ Margaret Henry | |
Name: | Margaret Henry | ||
Title: | Corporate Secretary | ||