Aptose Biosciences Files 8-K: Material Agreement & Officer Changes
Ticker: APTOF · Form: 8-K · Filed: May 1, 2024 · CIK: 882361
Sentiment: neutral
Topics: material-agreement, officer-changes, director-changes
Related Tickers: APTO
TL;DR
APTO filed an 8-K: new deal inked, execs/board shuffled. Watch this space.
AI Summary
Aptose Biosciences Inc. announced on April 29, 2024, a material definitive agreement and changes in its board and officer compensation. The company, formerly known as Lorus Therapeutics Inc., is involved in biological products. This filing also includes financial statements and exhibits.
Why It Matters
This 8-K filing indicates significant corporate actions, including a new material agreement and changes in leadership or compensation, which could impact the company's strategic direction and investor outlook.
Risk Assessment
Risk Level: medium — Material definitive agreements and changes in officers/directors can signal significant shifts in strategy or financial health, warranting careful investor scrutiny.
Key Players & Entities
- Aptose Biosciences Inc. (company) — Registrant
- Lorus Therapeutics Inc. (company) — Former company name
- April 29, 2024 (date) — Date of earliest event reported
FAQ
What is the nature of the material definitive agreement filed by Aptose Biosciences Inc.?
The filing indicates the entry into a material definitive agreement, but the specific details of this agreement are not provided in the summary information.
What specific changes were made regarding directors or officers?
The filing notes 'Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers,' but the exact details of these changes are not specified in the provided text.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing occurred on April 29, 2024.
What is Aptose Biosciences Inc.'s Standard Industrial Classification code?
Aptose Biosciences Inc.'s Standard Industrial Classification code is 2836, for Biological Products (No Diagnostic Substances).
Has Aptose Biosciences Inc. undergone any previous name changes?
Yes, Aptose Biosciences Inc. was formerly known as Lorus Therapeutics Inc. (name change on 20140905), which was formerly Imutec Pharma Inc. (name change on 19970113).
Filing Stats: 843 words · 3 min read · ~3 pages · Grade level 9.9 · Accepted 2024-05-01 16:30:37
Key Financial Figures
- $648,960 — Rice's annual base salary increased to $648,960 as of April 29, 2024. Mr. Rice is entit
- $18,000 — y and an annual automobile allowance of $18,000. All other terms of Mr. Rice's employme
- $509,600 — eased Mr. Bejar's annual base salary to $509,600 as of April 29, 2024 and updated the te
- $479,440 — eased Mr. Payne's annual base salary to $479,440 as of April 29, 2024 and updated the te
Filing Documents
- f8k_050124.htm (8-K) — 24KB
- exh_101.htm (EX-10.1) — 171KB
- exh_102.htm (EX-10.2) — 85KB
- exh_103.htm (EX-10.3) — 91KB
- db_sig.jpg (GRAPHIC) — 30KB
- wr_sig.jpg (GRAPHIC) — 29KB
- rb_sig.jpg (GRAPHIC) — 33KB
- fp_sig.jpg (GRAPHIC) — 31KB
- 0001171843-24-002427.txt ( ) — 796KB
- apto-20240429.xsd (EX-101.SCH) — 3KB
- apto-20240429_lab.xml (EX-101.LAB) — 33KB
- apto-20240429_pre.xml (EX-101.PRE) — 22KB
- f8k_050124_htm.xml (XML) — 4KB
01. Entry into
Item 1.01. Entry into a Material Definitive Agreement. The description of the Rice Amendment, Bejar Amendment, and Payne Amendment provided in Item 5.02 is incorporated by reference into this Item 1.01.
02 Departure of Directors or Certain Officers; Election of Directors; Appointment of
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On April 29, 2024, Aptose Biosciences, Inc. (the " Company ") entered into (a) a Second Amended and Restated Executive Employment Agreement with its Chairman, President, and Chief Executive Officer, Dr. William G. Rice (the " Rice Amendment "); (b) an Amended and Restated Executive Employment Agreement with its Senior Vice President and Chief Medical Officer, Dr. Rafael Bejar (the "B ejar Amendment "); and (c) an Amended and Restated Executive Employment Agreement with its Senior Vice President, Chief Financial Officer, Chief Business Officer, and Corporate Secretary, Mr. Fletcher Payne (the " Payne Amendment "), each of which amended the compensation agreements currently in place with such individuals to harmonize the change of control provisions in the compensation agreements of such individuals. The Rice Amendment updated the terms of the severance paid to Mr. Rice in connection with a change of control and its potential tax consequences. The amendment also clarified Mr. Rice's job description and compensation package. Mr. Rice's annual base salary increased to $648,960 as of April 29, 2024. Mr. Rice is entitled to receive an annual bonus of up to 55% of his current base salary and an annual automobile allowance of $18,000. All other terms of Mr. Rice's employment agreement remain in full force and effect. The Bejar Amendment increased Mr. Bejar's annual base salary to $509,600 as of April 29, 2024 and updated the terms of the severance paid to Mr. Bejar in connection with a change of control. The amendment also added the title of Senior Vice President to Mr. Bejar's position, and added a provision requiring Mr. Bejar's cooperation in any internal investigation, any administrative, regulatory or judicial investigation or proceeding, or any dispute with a third party. All other terms of Mr. Bejar's employm
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description of Exhibit 10.1 Second Amended and Restated Executive Employment Agreement dated April 29, 2024 between the Company and Dr. William G. Rice 10.2 Amended and Restated Executive Employment Agreement dated April 29, 2024 between the Company and Dr. Rafael Bejar 10.3 Amended and Restated Executive Employment Agreement dated April 29, 2024 between the Company and Mr. Fletcher Payne 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 hereunto duly authorized. Date: May 1, 2024 APTOSE BIOSCIENCES INC. By: /s/ Fletcher Payne Name: Fletcher Payne Title: Senior Vice President, Chief Financial Officer, Chief Business Officer, and Corporate Secretary