Ionis Pharma Enters Material Agreement, Adjusts Officer Compensation
Ticker: IONS · Form: 8-K · Filed: Feb 29, 2024 · CIK: 874015
Sentiment: neutral
Topics: material-agreement, executive-compensation, corporate-governance
TL;DR
**Ionis just made a big deal and changed exec pay, watch for strategic shifts!**
AI Summary
Ionis Pharmaceuticals, Inc. filed an 8-K on February 29, 2024, reporting an event on February 28, 2024, concerning an entry into a material definitive agreement and compensatory arrangements for certain officers. The filing also noted the departure or election of directors or officers. This indicates significant changes in the company's operational agreements and executive compensation structure.
Why It Matters
This filing signals potential strategic shifts and changes in executive incentives at Ionis Pharmaceuticals, which could impact future company performance and investor confidence.
Risk Assessment
Risk Level: medium — The filing indicates material definitive agreements and changes in officer compensation, which can introduce both opportunities and risks depending on the specifics not fully detailed in this summary.
Key Players & Entities
- IONIS PHARMACEUTICALS INC (company) — Registrant
- February 28, 2024 (date) — Date of earliest event reported
- February 29, 2024 (date) — Filing date
- 000-19125 (other) — Commission File No.
- 33-0336973 (other) — IRS Employer Identification No.
- 2855 Gazelle Court Carlsbad, CA 92010 (other) — Address of Principal Executive Offices
- 760-931-9200 (other) — Registrant's telephone number
FAQ
What was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing occurred on February 28, 2024.
What type of agreements did Ionis Pharmaceuticals Inc. enter into?
Ionis Pharmaceuticals Inc. entered into a Material Definitive Agreement.
What changes were reported regarding officers and directors?
The filing reported the Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers.
When was this 8-K form filed with the SEC?
This 8-K form was filed with the SEC on February 29, 2024.
What is the business address of Ionis Pharmaceuticals, Inc.?
The business address of Ionis Pharmaceuticals, Inc. is 2855 Gazelle Court, Carlsbad, CA 92010.
Filing Stats: 673 words · 3 min read · ~2 pages · Grade level 11.6 · Accepted 2024-02-29 09:10:25
Key Financial Figures
- $12,500 — nier will receive a flat monthly fee of $12,500 through September 30, 2024, and thereaf
- $6,250 — 4, and thereafter a flat monthly fee of $6,250. The term of the Advisory Services Agr
Filing Documents
- ef20022767_8k.htm (8-K) — 29KB
- 0001140361-24-010288.txt ( ) — 161KB
- ions-20240228.xsd (EX-101.SCH) — 4KB
- ions-20240228_lab.xml (EX-101.LAB) — 21KB
- ions-20240228_pre.xml (EX-101.PRE) — 16KB
- ef20022767_8k_htm.xml (XML) — 4KB
02
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On February 29, 2024, Ionis Pharmaceuticals, Inc. (" Ionis " or the " Company ") announced Kyle Jenn has rejoined Ionis as executive vice president, commercial, to lead all aspects of commercialization at the Company. In addition, the Company announced Onaiza Cadoret-Manier, executive vice president, chief global product strategy and operations officer, is leaving the company to pursue another opportunity. To support the transition, Ms. Cadoret-Manier will remain in a full-time capacity through March 15, 2024, after which she will serve as an advisor to the Company for a period of time. Ionis thanks Ms. Cadoret-Manier for her vision and contributions in establishing Ionis' foundational commercial organization and capabilities over the last four years as Ionis evolved into a fully integrated biopharmaceutical company.
01
Item 1.01. Entry Into a Material Definitive Agreement. On February 28, 2024, Ionis and Ms. Cadoret-Manier entered into an advisory services agreement (the " Advisory Services Agreement ") pursuant to which Ms. Cadoret-Manier will provide advisory services to the Company. Under the Advisory Services Agreement, Ms. Cadoret-Manier will receive a flat monthly fee of $12,500 through September 30, 2024, and thereafter a flat monthly fee of $6,250. The term of the Advisory Services Agreement will begin on March 15, 2024, and will continue through January 10, 2025, but may be terminated earlier by the Company for cause (as defined in the Advisory Services Agreement) or by Ms. Cadoret-Manier with 60 days advance written notice. The foregoing summary of the Advisory Services Agreement does not purport to be complete and is qualified in its entirety by reference to the Advisory Services Agreement, which will be attached as an exhibit to the Company's Quarterly Report on Form 10-Q for the quarter ending March 31, 2024.
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Ionis Pharmaceuticals, Inc. Dated: February 29, 2024 By: /s/ Patrick R. O'Neil Patrick R. O'Neil Executive Vice President, Chief Legal Officer and General Counsel