Prime Medicine Inc. filed SEC Form 8-K: Leadership Update
$PRME
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
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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 July 14, 2025, Prime Medicine, Inc. (the "Company") announced that Jeremy Duffield, M.D. Ph.D., FRCP will step down from his role as Chief Scientific Officer of the Company, effective as of July 15, 2025 (the “Separation”).
In connection with the Separation, the Company intends to enter into a Separation Agreement with Dr. Duffield (the “Separation Agreement”), pursuant to which Dr. Duffield will be entitled to receive severance benefits consistent with the terms of his Amended and Restated Employment Agreement with the Company, dated July 20, 2022. Additionally, following the effective date of the Separation, the Company intends to retain certain consulting and advisory services of Dr. Duffield (the “Consulting Agreement”), effective as of the close of business on July 15, 2025 through March 31, 2026 (the “Advisory Period”). During the Advisory Period, all of Dr. Duffield’s outstanding equity awards will continue to vest in accordance with their terms.
The foregoing summaries of the Separation Agreement and Consulting Agreement do not purport to be complete and are qualified in their entirety by references to the full texts of the Separation Agreement and Consulting Agreement, copies of which the Company intends to file as exhibits to its Quarterly Report on Form 10-Q for the quarter ended June 30, 2025.
SIGNATURE
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: July 15, 2025
By: | /s/ Allan Reine | ||||
Name: | Allan Reine, M.D. | ||||
Title: | Chief Executive Officer | ||||