PharmaCyte Biotech Inc. filed SEC Form 8-K: Leadership Update
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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 November 20, 2023 (the “Grant Date”), the board of directors (the “Board”) of PharmaCyte Biotech, Inc. (the “Company”) approved a one-time grant (the “Silverman Grant”) to Joshua N. Silverman, Interim Chief Executive Officer and Interim President of the Company, consisting of (i) $100,000 in cash and (ii) options to purchase up to 170,000 shares of the Company’s common stock at an exercise price of $2.18 per share. The options vest 50% on the Grant Date and 50% on the one-year anniversary of the Grant Date. The Silverman Grant was made pursuant to the PharmaCyte Biotech, Inc. 2022 Equity Incentive Plan (the “Plan”).
Also on the Grant Date, the Board approved a one-time grant (the “Trujillo Grant”) to Carlos A. Trujillo, Chief Financial Officer of the Company, consisting of (i) $50,000 in cash and (ii) options to purchase up to 85,000 shares of the Company’s common stock at an exercise price of $2.18 per share. The options vest 50% on the Grant Date and 50% on the one-year anniversary of the Grant Date. The Trujillo Grant was made pursuant to the Plan.
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SIGNATURES
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.
| Date: November 24, 2023 | PHARMACYTE BIOTECH, INC. | |
| By: |
/s/ Joshua N. Silverman | |
| Name: | Joshua N. Silverman | |
| Title: | Interim Chief Executive Officer and Interim President | |
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