PMV Pharma Reports Officer/Director Changes, Comp Arrangements

TL;DR

**PMVP filed an 8-K about leadership changes and executive pay, watch for strategic shifts.**

AI Summary

PMV Pharmaceuticals, Inc. filed an 8-K on January 5, 2024, reporting an event that occurred on January 4, 2024, related to the departure or election of directors or officers and their compensation. This filing indicates potential changes in leadership or executive pay structures, which could impact the company's strategic direction and financial health. For investors, understanding these changes is crucial as new leadership or altered compensation can signal shifts in company priorities or financial commitments, directly affecting stock performance.

Why It Matters

Changes in leadership and executive compensation can significantly influence a company's future strategy, operational efficiency, and financial stability, directly impacting investor confidence and stock valuation.

Risk Assessment

Risk Level: medium — Changes in leadership and compensation can introduce uncertainty regarding future company direction and financial performance, posing a moderate risk to investors.

Analyst Insight

A smart investor would monitor subsequent filings or company announcements for specific details on the leadership changes and compensation structures, as these will clarify the potential impact on PMV Pharmaceuticals, Inc.'s future operations and financial health.

Key Numbers

• $0.00001 — par value per share (par value of PMV Pharmaceuticals, Inc. Common Stock)

Key Players & Entities

• PMV Pharmaceuticals, Inc. (company) — the registrant filing the 8-K
• January 4, 2024 (date) — date of the earliest event reported
• January 5, 2024 (date) — date the 8-K was filed
• 001-39539 (dollar_amount) — Commission File Number
• PMVP (company) — trading symbol on Nasdaq Global Select Market

Forward-Looking Statements

• PMV Pharmaceuticals, Inc. will announce specific details regarding the changes in directors/officers and their compensatory arrangements. (PMV Pharmaceuticals, Inc.) — high confidence, target: Q1 2024
• The changes in leadership or compensation could lead to a shift in the company's strategic focus on drug development. (PMV Pharmaceuticals, Inc.) — medium confidence, target: Mid-2024

FAQ

Key Financial Figures

• $0.00001 — ich registered Common Stock, par value $0.00001 per share PMVP The Nasdaq Global Se
• $370,000 — ay Mr. Carulli an annual base salary of $370,000 and an annual target cash bonus of 40%,
• $20,000 — Kung will receive a monthly retainer of $20,000. The foregoing summary of the transitio
• $76,381 — : (i) lump sum payment in the amount of $76,381.50, and (ii) continued vesting for 34,8
• $500 — ed through March 31, 2024, payable at a $500 hourly rate. The Alland Separation Lett

Filing Documents

• d104934d8k.htm (8-K) — 33KB
• d104934dex991.htm (EX-99.1) — 15KB
• 0001193125-24-003348.txt ( ) — 171KB
• pmvp-20240104.xsd (EX-101.SCH) — 3KB
• pmvp-20240104_lab.xml (EX-101.LAB) — 17KB
• pmvp-20240104_pre.xml (EX-101.PRE) — 11KB
• d104934d8k_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 January 5, 2024, PMV Pharmaceuticals, Inc. (the " Company ") announced the appointment of Michael Carulli as Chief Financial Officer (" CFO "), principal financial officer and principal accounting officer of the Company, to serve in such capacity until a successor is duly appointed and approved by the Company's board of directors (" Board "). The effective date of Mr. Carulli's appointment was January 5, 2024. On January 5, 2024, the Company also announced that Winston Kung, the Company's current Chief Operating Officer (" COO ") and CFO, will transition from his role as COO and CFO, effective January 4, 2024. Mr. Kung will serve as an advisor to the Company through March 31, 2024 to assist in the transition of his duties. Mr. Kung's departure is not related to any disagreement with the Company on any matter relating to its operations, policies or practices. Mr. Carulli, 50, has served as the Company's Senior Vice President of Finance since March 2023, and prior to that, as Vice President of Finance from May 2020 to March 2023. Prior to joining the Company, Mr. Carulli was at Celgene (now Bristol Myers Squibb), a global biopharmaceutical company, since 2010 where he held multiple positions, including most recently as Executive Director FP&A – Research & Development, and oversaw the financial and operational plans for the research and development organization. Combined, Mr. Carulli has over 20 years of financial management experience. Mr. Carulli received a B.S. in Marketing and Management from Siena College and a M.B.A. from the Fordham Gabelli School of Business. Also on January 5, 2024, the Company announced that Leila Alland, M.D., the Company's Chief Medical Officer (" CMO "), will transition from her role as CMO, effective on January 5, 2024. Dr. Alland will serve as an advisor to the Company thr

01

Item 7.01. Regulation FD Disclosure. On January 5, 2024, the Company issued a press release reflecting the matters discussed in Item 5.02 of this Current Report on Form 8-K. The full text of this press release is attached hereto as Exhibit 99.1 and is incorporated by reference herein. The information in this Item 7.01 and 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 the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference to such filing.

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 99.1 Press Release issued by PMV Pharmaceuticals, Inc., dated January 5, 2024. 104 Cover Page Interactive Date File (the cover page tags are 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. PMV PHARMACEUTICALS, INC. By: /s/ David Mack David Mack Chief Executive Officer Date: January 5, 2024

View Full Filing

View this 8-K filing on SEC EDGAR