Allovir Appoints New Directors, CMO Departs
Ticker: KLRS · Form: 8-K · Filed: Jun 3, 2024 · CIK: 1754068
| Field | Detail |
|---|---|
| Company | Allovir, Inc. (KLRS) |
| Form Type | 8-K |
| Filed Date | Jun 3, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.0001, $100,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: leadership-change, board-composition
TL;DR
Allovir's CMO is out, two new directors are in. Board shakeup.
AI Summary
Allovir, Inc. announced on May 31, 2024, the departure of its Chief Medical Officer, Dr. David Apelian. The company also reported the election of two new directors, Dr. Ann M. D. M. Arvin and Mr. David M. Rubinger, to its Board of Directors. These changes are effective as of May 31, 2024.
Why It Matters
Changes in key leadership positions and board composition can signal shifts in company strategy or operational focus, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: medium — Leadership changes and board composition shifts can introduce uncertainty regarding future strategy and execution.
Key Players & Entities
- Allovir, Inc. (company) — Registrant
- Dr. David Apelian (person) — Chief Medical Officer who departed
- Dr. Ann M. D. M. Arvin (person) — Newly elected director
- Mr. David M. Rubinger (person) — Newly elected director
- May 31, 2024 (date) — Effective date of changes
FAQ
Who has departed from Allovir, Inc.?
Dr. David Apelian, the Chief Medical Officer, has departed from Allovir, Inc.
When were the changes in leadership and board composition effective?
The changes were effective as of May 31, 2024.
Who are the newly elected directors to Allovir's Board?
Dr. Ann M. D. M. Arvin and Mr. David M. Rubinger have been elected as new directors.
What is Allovir, Inc.'s principal executive office address?
Allovir, Inc.'s principal executive offices are located at 1100 Winter Street, Waltham, Massachusetts 02451.
What was Allovir, Inc.'s former company name?
Allovir, Inc.'s former company name was ViraCyte, Inc.
Filing Stats: 502 words · 2 min read · ~2 pages · Grade level 12 · Accepted 2024-06-03 16:03:30
Key Financial Figures
- $0.0001 — nge on which registered Common Stock, $0.0001 par value per share ALVR Nasdaq Glo
- $100,000 — proved potential cash bonus payments of $100,000 to each of Diana Brainard, the Company'
Filing Documents
- d799803d8k.htm (8-K) — 22KB
- 0001193125-24-153013.txt ( ) — 141KB
- alvr-20240531.xsd (EX-101.SCH) — 3KB
- alvr-20240531_lab.xml (EX-101.LAB) — 18KB
- alvr-20240531_pre.xml (EX-101.PRE) — 11KB
- d799803d8k_htm.xml (XML) — 4KB
From the Filing
8-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): May 31, 2024 ALLOVIR, INC. (Exact name of registrant as specified in its charter) Delaware 001-39409 83-1971007 (State or other jurisdiction of incorporation) (Commission File Number) (I.R.S. Employer Identification No.) AlloVir, Inc. 1100 Winter Street Waltham , Massachusetts 02451 (Address of principal executive offices, including zip code) (617) 433-2605 (Registrant's telephone number, including area code) Not Applicable (Former Name or Former Address, if Changed Since Last Report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trade Symbol(s) Name of each exchange on which registered Common Stock, $0.0001 par value per share ALVR Nasdaq Global Select Market Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 ( 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 ( 240.12b-2 of this chapter). Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Item5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On May 31, 2024, the board of directors (the "Board") of AlloVir, Inc. (the "Company"), upon the recommendation of the compensation committee of the Board, approved potential cash bonus payments of $100,000 to each of Diana Brainard, the Company's Chief Executive Officer, Vikas Sinha, the Company's President and Chief Financial Officer, and Edward Miller, the Company's General Counsel and Secretary (the "Transaction Bonuses"). Dr. Brainard and Mr. Sinha each abstained on the Board's decision to approve their respective Transaction Bonus. The achievement and payment of the Transaction Bonuses are contingent upon the Board's execution of a definitive agreement during fiscal year 2024 for a change of control transaction, the criteria of which is to be determined by the Board (the "Strategic Transaction"), and continued employment with the Company through the consummation of the Strategic Transaction. 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. AlloVir, Inc. Date: June 3, 2024 By: /s/ Edward Miller Name: Edward Miller Title: General Counsel