Synlogic 8-K: Officer Changes & Compensation Reported

TL;DR

**Synlogic just filed an 8-K about changes in its leadership and executive pay.**

AI Summary

Synlogic, Inc. filed an 8-K on February 22, 2024, reporting an event that occurred on February 17, 2024. The filing indicates information related to the departure or election of directors or officers, as well as compensatory arrangements for certain officers. The company, a pharmaceutical preparations firm, is headquartered in Cambridge, MA.

Why It Matters

Changes in executive leadership and compensation can signal strategic shifts or financial health, impacting investor confidence and future company direction.

Risk Assessment

Risk Level: low — This 8-K is an informational filing about standard corporate governance matters and does not indicate immediate financial distress or major operational risks.

Key Players & Entities

• SYNLOGIC, INC. (company) — Filing registrant
• 03 Life Sciences (company) — Organization name
• Mirna Therapeutics, Inc. (company) — Former company name
• February 17, 2024 (date) — Date of earliest event reported
• February 22, 2024 (date) — Filing date
• Cambridge, MA (location) — Business address city and state

FAQ

Key Financial Figures

• $0.001 — ich registered Common Stock, par value $0.001 per share SYBX The NASDAQ Capital M
• $628,305 — all receive a lump-sum payment equal to $628,305, which is equivalent to twelve months o
• $65,327 — days employed in 2024, in the amount of $65,327. The determination of whether to award
• $218,856 — all receive a lump-sum payment equal to $218,856, which is equivalent to six months of h
• $87,302 — days employed in 2024, in the amount of $87,302. The determination of whether to award

Filing Documents

• d793484d8k.htm (8-K) — 27KB
• 0001193125-24-042887.txt ( ) — 187KB
• sybx-20240217.xsd (EX-101.SCH) — 3KB
• sybx-20240217_def.xml (EX-101.DEF) — 14KB
• sybx-20240217_lab.xml (EX-101.LAB) — 24KB
• sybx-20240217_pre.xml (EX-101.PRE) — 15KB
• d793484d8k_htm.xml (XML) — 6KB

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): February 17, 2024 Synlogic, Inc. (Exact name of registrant as specified in its charter) Delaware 001-37566 26-1824804 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.) 301 Binney St. , Suite 402 , Cambridge , MA 02142 (Address of principal executive offices and Zip Code) ( 617 ) 401-9975 (Registrant's telephone number, including area code) N/A (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 Trading Symbol(s) Name of each exchange on which registered Common Stock, par value $0.001 per share SYBX The NASDAQ Capital Market Preferred Stock Purchase Rights N/A The NASDAQ Capital 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. Aoife Brennan, M.B., Ch.B. As previously disclosed, Synlogic, Inc. (the " Company ") and Aoife Brennan, M.B., Ch.B., President and Chief Executive Officer, agreed that Dr. Brennan's employment with the Company will terminate effective March 9, 2024 (the " Brennan Separation "). In connection with the Brennan Separation, the Company entered into a separation agreement with Dr. Brennan on February 17, 2024, to be effective on February 25, 2024 (the " Brennan Separation Agreement "). Pursuant to the terms of the Brennan Separation Agreement, Dr. Brennan's employment with the Company will end on March 9, 2024 (the " Brennan Departure Date "). Dr. Brennan will assist the Company through the Brennan Departure Date in the transition of work in connection with her duties as President and Chief Executive Officer of the Company. In consideration for, among other things, her compliance with certain restrictive covenants and a typical release of claims, Dr. Brennan shall receive a lump-sum payment equal to $628,305, which is equivalent to twelve months of her base salary. Additionally, Dr. Brennan will be eligible for consideration of 100% of her target 2024 bonus, pro-rated by the number of days employed in 2024, in the amount of $65,327. The determination of whether to award a bonus and the amount of bonus shall be in the sole discretion of the Company. Dr. Brennan is also entitled to continued health insurance coverage for up to twelve months following the Brennan Departure Date. The foregoing description of the material terms of the Brennan Separation Agreement is qualified in its entirety by the full text of the Brennan Separation Agreement, a copy of which will be filed as an exhibit to the Company's annual report on Form 10-K for the year ending December 31, 2023. Antoine Awad On February 17, 2024, the Company entered into a separation agreement with Antoine Awad, Chief Operating Officer, to be effective on February 25, 2024 (the " Awad Separation Agreement "), pursuant to which, Mr. Awad's employment with the Company will end on May 30, 2024 (the " Awad Departure Date "). Mr. Awad will assist the Company through the Awad Departure Date in the transition of work in connection with his duties as Chief Operating Officer of the Company. In consideration for, among other things, his compliance with certain restrictive covenants and a typical release of claims, Mr. Awad shall receive a lump-sum payment equal to $218,856, which is equivalent to six months of his base salary. Additionally, Mr. Awad will be eligible for consideration of 100% of his target 2024 bonus, pro-rated by the number of days employed in 2024, in the amount of $87,302. The determination of whether to award a bonus and the amount of bonus shall

View Full Filing

View this 8-K filing on SEC EDGAR