Editas Medicine Inc. filed SEC Form 8-K: Leadership Update
$EDIT
Biotechnology: Biological Products (No Diagnostic Substances)
Health Care
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
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CURRENT REPORT
Pursuant to Section 13 or 15(d)
of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): December 16, 2024
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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
As previously disclosed, Editas Medicine, Inc. (the “Company”) and Baisong Mei, Executive Vice President and Chief Medical Officer of the Company, agreed that Dr. Mei would step down as Chief Medical Officer effective December 31, 2024. On December 16, 2024, Dr. Mei entered into a separation agreement with the Company (the “Separation Agreement”), pursuant to which Dr. Mei agreed to a transition period during which he will remain employed by the Company, ending January 31, 2025 (the “Separation Date”). The Separation Agreement provides that Dr. Mei will receive the benefits to which he is entitled pursuant to the Company’s amended and restated severance benefits plan, including (i) his base salary for a period of 12 months following the Separation Date (the “Severance Period”), (ii) company contributions to the cost of health care continuation under the Consolidated Omnibus Budget Reconciliation Act for the Severance Period, and (iii) the amount of any unpaid annual bonus determined by the Company’s Board of Directors (the “Board”) (or a duly authorized committee thereof) to be payable to him for the 2024 calendar year. In addition, the Separation Agreement provides that (i) the exercise period for Dr. Mei’s stock options that are outstanding and vested as of the Separation Date will be extended to December 31, 2025 and (ii) notwithstanding Dr. Mei’s termination of service on the Separation Date, Dr. Mei’s outstanding annual time-based restricted stock units will remain outstanding and become vested as to the number of shares that would have vested had he remained employed through the date that is 90 days following the Separation Date. All payments and benefits provided under the Separation Agreement are contingent upon the effectiveness of, and Dr. Mei’s continued compliance with, the Separation Agreement. The Separation Agreement also contains a release of claims, as well as standard non-disparagement and confidentiality provisions.
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.
| EDITAS MEDICINE, INC. | ||||||||
| Date: December 17, 2024 | By: | /s/ Gilmore O’Neill | ||||||
| Gilmore O’Neill | ||||||||
| President and Chief Executive Officer | ||||||||