Adicet Bio Announces Board Changes and Executive Compensation Updates

TL;DR

Adicet Bio (ACET) filed an 8-K: board changes, executive pay updates, and financial exhibits. Nothing major flagged.

AI Summary

On August 15, 2024, Adicet Bio, Inc. filed an 8-K report detailing changes in its board of directors and executive compensation. The filing includes the election of new directors and updates to compensatory arrangements for certain officers, alongside financial statements and exhibits.

Why It Matters

Changes in board composition and executive compensation can signal shifts in company strategy, governance, and future financial performance.

Risk Assessment

Risk Level: low — The filing primarily concerns routine corporate governance and executive compensation matters, with no immediate financial distress or significant operational changes indicated.

Key Players & Entities

• Adicet Bio, Inc. (company) — Registrant
• August 15, 2024 (date) — Date of earliest event reported
• Delaware (jurisdiction) — State of Incorporation
• Boston, Massachusetts (location) — Principal Executive Offices

FAQ

Key Financial Figures

• $0.0001 — ch registered Common Stock, par value $0.0001 per share ACET The Nasdaq Global Ma

Filing Documents

• acet-20240815.htm (8-K) — 44KB
• acet-ex99_1.htm (EX-99.1) — 20KB
• img94724212_0.jpg (GRAPHIC) — 2KB
• 0000950170-24-098485.txt ( ) — 183KB
• acet-20240815.xsd (EX-101.SCH) — 24KB
• acet-20240815_htm.xml (XML) — 5KB

02 Departure of Directors or Certain Officers; Election of Directors

Item 5.02 Departure of Directors or Certain Officers; Election of Directors. On August 15, 2024, Michael Kauffman, M.D., Ph.D., a Class III member of the board of directors (the "Board") of Adicet Bio, Inc. (the "Company"), notified the Company of his resignation from the Board and Nominating and Corporate Governance Committee (the "NCG Committee"), effective as of August 19, 2024. Dr. Kauffman's resignation from the Board was not the result of any disagreement with management or the Board or on any matter relating to the Company's operations, policies or practices. On August 19, 2024, upon the recommendation of the NCG Committee, the Board appointed Lloyd Klickstein, M.D., Ph.D. to the Board, effective as of August 19, 2024, to fill the vacancy on the Board. Dr. Klickstein will serve as a Class III director until his term expires at the 2027 annual meeting of stockholders at which time he will stand for reelection by the Company's stockholders. The Board determined that Dr. Klickstein is independent under the listing standards of The Nasdaq Stock Market ("Nasdaq"). Dr. Klickstein was also appointed to serve on the NCG Committee. As a non-employee director, Dr. Klickstein will receive cash compensation for his Board service in accordance with the Company's Amended and Restated Non-Employee Director Compensation Policy (the "Director Compensation Policy"). In addition, pursuant to the Director Compensation Policy, Dr. Klickstein was granted an option to purchase 70,200 shares of the Company's common stock at an exercise price per share equal to the closing price of the Company's common stock on the Nasdaq Global Market on August 19, 2024, with the shares vesting and becoming exercisable in thirty-six (36) equal monthly installments commencing on August 19, 2024, subject to the continued service of Dr. Klickstein on the Board. Dr. Klickstein is not a party to any transaction with the Company that would require disclosure under Item 404(a) of Regulation S-K, and

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure. On August 19, 2024, the Company issued a press release announcing Dr. Kauffman's resignation from the Board and Dr. Klickstein's appointment to the Board. A copy of this press release is furnished as Exhibit 99.1 to this report on Form 8-K. The information in this Item 7.01, including Exhibit 99.1 attached hereto, is intended to be furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under Exchange Act or the Securities Act of 1933, as amended, except as expressly set forth by specific reference in such filing.

01 Exhibits

Item 9.01 Exhibits. (d) Exhibits Exhibit No. Description 99.1 Press release issued by Adicet Bio, Inc. on August 19, 2024, furnished herewith. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

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 thereunto duly authorized. ADICET BIO, INC. Date: August 19, 2024 By: /s/ Nick Harvey Name: Title: Nick Harvey Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR