Exicure Appoints New Director, Announces Executive Compensation Changes
Ticker: XCUR · Form: 8-K · Filed: Nov 25, 2024 · CIK: 1698530
| Field | Detail |
|---|---|
| Company | Exicure, Inc. (XCUR) |
| Form Type | 8-K |
| Filed Date | Nov 25, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.0001, $20,000, $200,000, $1.3 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: board-changes, executive-compensation
TL;DR
Exicure swaps a director, names a new one, and adjusts CMO pay.
AI Summary
On November 21, 2024, Exicure, Inc. filed an 8-K report detailing the departure of Director Dr. David E. Bearss and the appointment of Dr. Richard A. Miller as a new director. The company also announced a new compensatory arrangement for its Chief Medical Officer, Dr. David J. Eby.
Why It Matters
Changes in board composition and executive compensation can signal shifts in company strategy or financial priorities, impacting investor confidence and future performance.
Risk Assessment
Risk Level: medium — The filing involves changes in board membership and executive compensation, which can introduce uncertainty regarding future strategic direction and financial management.
Key Players & Entities
- Exicure, Inc. (company) — Registrant
- Dr. David E. Bearss (person) — Departing Director
- Dr. Richard A. Miller (person) — Appointed Director
- Dr. David J. Eby (person) — Chief Medical Officer
- November 21, 2024 (date) — Date of earliest event reported
FAQ
Who has departed from Exicure's board of directors?
Dr. David E. Bearss has departed from Exicure's board of directors as of November 21, 2024.
Who has been appointed as a new director to Exicure's board?
Dr. Richard A. Miller has been appointed as a new director to Exicure's board.
What is the date of the earliest event reported in this 8-K filing?
The date of the earliest event reported is November 21, 2024.
What specific compensatory arrangement has been announced?
The filing mentions a new compensatory arrangement for the Chief Medical Officer, Dr. David J. Eby.
What is Exicure, Inc.'s state of incorporation?
Exicure, Inc. is incorporated in Delaware.
Filing Stats: 848 words · 3 min read · ~3 pages · Grade level 9.4 · Accepted 2024-11-25 16:27:11
Key Financial Figures
- $0.0001 — ich registered Common Stock, par value $0.0001 per share XCUR The Nasdaq Stock Market
- $20,000 — Baik will receive an annual retainer of $20,000. The Company also intends to enter into
- $200,000 — l each receive an annual base salary of $200,000. The appointments of Mr. Yoo and Mr.
- $1.3 million — mber 21, 2024, the Company received the $1.3 million in connection with the closing of Purch
Filing Documents
- xcur-20241121.htm (8-K) — 30KB
- 0001698530-24-000123.txt ( ) — 150KB
- xcur-20241121.xsd (EX-101.SCH) — 2KB
- xcur-20241121_lab.xml (EX-101.LAB) — 21KB
- xcur-20241121_pre.xml (EX-101.PRE) — 12KB
- xcur-20241121_htm.xml (XML) — 3KB
02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers
Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers Election of Directors to the Board of Directors In connection with the closing of the Common Stock Purchase Agreement between the Exicure, Inc. (the "Company') and HiTron Systems Inc. ("HiTron") executed on November 12, 2024 (the "Purchase Agreement"), on November 21, 2024, the Board of Directors (the "Board") of the Company appointed Andy Yoo and Seung Ik Baik to the Board. Mr. Yoo will serve as a Class I director for a term expiring at the Company's 2027 annual meeting of stockholders, or until his successor has been duly elected and qualified, or until his earlier death, resignation or removal. Mr. Baik will serve as a Class III director for a term expiring at the Company's 2026 annual meeting of stockholders, or until his successor has been duly elected and qualified, or until his earlier death, resignation or removal. There are no family relationships between Mr. Yoo or Mr. Baik and any director or executive officer of the Company. For their services on the Board, both Mr. Yoo and Mr. Baik will receive an annual retainer of $20,000. The Company also intends to enter into the Company's standard form of indemnification agreement with both Mr. Yoo and Mr. Baik. As of the date of this report, Mr. Yoo or Mr. Baik have not been appointed to any committees of the Board. To the extent they are appointed to a committee, the Company will disclose their appointment within four business days. The Board also appointed Mr. Yoo as the Chief Restructuring Officer of the Company and entered into an employment agreement with Mr. Yoo effective November 21, 2024. For his services as an officer, Mr. Yoo will each receive an annual base salary of $200,000. The appointments of Mr. Yoo and Mr. Baik to the Board and Mr. Yoo as Chief Restructuring Officer were made pursuant to rights of HiTron under the Purchase Agreement. Mr. Yoo is the Chief Executive Officer of
01 Other Events
Item 8.01 Other Events On November 21, 2024, the Company received the $1.3 million in connection with the closing of Purchase Agreement.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 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: November 25, 2024 EXICURE, INC. (registrant) By: /s/ Paul Kang Paul Kang Chief Executive Officer