Precigen Appoints New Director, Sees Board Resignation
Ticker: PGEN · Form: 8-K · Filed: Aug 30, 2024 · CIK: 1356090
| Field | Detail |
|---|---|
| Company | Precigen, Inc. (PGEN) |
| Form Type | 8-K |
| Filed Date | Aug 30, 2024 |
| Risk Level | low |
| Pages | 3 |
| Reading Time | 4 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: board-change, director-appointment, director-resignation
TL;DR
Precigen's board just changed: Dr. Ribar is in, Dr. Hariri is out.
AI Summary
Precigen, Inc. announced on August 28, 2024, a change in its board of directors. Dr. Helen B. Ribar has been appointed as a new director, and Dr. Robert J. Hariri has resigned from the board. These changes are effective immediately.
Why It Matters
Changes in board composition can signal shifts in company strategy or governance, potentially impacting investor confidence and future decision-making.
Risk Assessment
Risk Level: low — This filing reports routine changes in board membership, which typically carries low immediate risk.
Key Players & Entities
- Precigen, Inc. (company) — Registrant
- Dr. Helen B. Ribar (person) — Newly appointed director
- Dr. Robert J. Hariri (person) — Resigned director
- August 28, 2024 (date) — Effective date of changes
FAQ
Who is Dr. Helen B. Ribar and what is her background?
The filing does not provide specific details about Dr. Helen B. Ribar's background or qualifications beyond her appointment as a director.
What is the reason for Dr. Robert J. Hariri's resignation?
The filing states that Dr. Robert J. Hariri resigned from the board of directors, but it does not specify the reason for his departure.
Are there any other changes to the board of directors or executive officers?
This filing specifically reports the appointment of Dr. Helen B. Ribar and the resignation of Dr. Robert J. Hariri. No other changes are mentioned in this document.
When were these board changes effective?
The changes to the board of directors, including the appointment and resignation, were effective as of August 28, 2024.
Does this filing relate to any specific business event or transaction?
No, this filing is specifically related to the departure of a director and the election of a new director, not a specific business transaction.
Filing Stats: 920 words · 4 min read · ~3 pages · Grade level 14.3 · Accepted 2024-08-30 17:00:21
Filing Documents
- dp217405_8k.htm (8-K) — 26KB
- 0000950103-24-012981.txt ( ) — 194KB
- pgen-20240828.xsd (EX-101.SCH) — 3KB
- pgen-20240828_lab.xml (EX-101.LAB) — 33KB
- pgen-20240828_pre.xml (EX-101.PRE) — 22KB
- dp217405_8k_htm.xml (XML) — 3KB
02
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On August 28, 2024, the Compensation and Human Capital Management Committee (the "Compensation Committee") of the Board of Directors of Precigen, Inc. (the "Company") approved the grant of performance stock units ("PSUs") under the Company's 2023 Omnibus Incentive Plan, as amended (the "Plan"), to certain key employees of the Company, including the Company's named executive officers set forth in the table below. The Compensation Committee believes that the incorporation of the PSUs as a component of long-term equity incentive compensation provided to the executive officers will enhance the alignment of executive compensation with long-term shareholder value creation, because the vesting of the PSUs is conditioned upon the Company's achievement of certain key operational milestones important to its growth and success. The PSUs will vest in two equal 50% installments based upon the achievement of two specified operational milestones relating to (i) the Company's good faith submission to the U.S. Food and Drug Administration (the "FDA") of a complete Biologics License Application ("BLA") for the Company's PRGN-2012 investigational product and (ii) the approval of the BLA by the FDA, in each case during the period from the grant date through December 31, 2026 (the "Performance Period"). The performance milestones may be achieved (and the PSUs earned) at any time during the Performance Period, and the PSUs will vest and be settled in shares of the Company's common stock at such time as the Compensation Committee certifies that an applicable performance milestone has been achieved, subject to the executive's continued employment through the applicable achievement date (except as described below). Any PSUs for which a performance milestone has not been achieved by the end of the Performance Period will be cancelle