Celularity Inc 8-K, filed Sep 23, 2022
Celularity Inc (CELU)
About this 8-K
Celularity Inc filed this 8-K on September 23, 2022, reporting on events of September 21, 2022.
Items reported
- Item 5.02: Director or officer change, or executive pay
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| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
As previously disclosed in the Current Report on Form 8-K filed by Celularity Inc, or Celularity, with the Securities and Exchange Commission, or the SEC, on July 20, 2022, Andrew L. Pecora, M.D., F.A.C.P., resigned as Celularity’s President effective as of August 31, 2022.
On September 21, 2022, Celularity entered into a consulting agreement with Dr. Pecora whereby Dr. Pecora agreed to provide advice to the management regarding Celularity’s clinical development programs for a monthly fee of $10,000. The consulting agreement has a six-month term and will be automatically renewed for one additional six-month term if either party does not provide notice of non-renewal as provided therein.
In addition, on September 21, 2022, Celularity entered into a scientific and clinical advisor agreement with Dr. Pecora effective as of September 1, 2022, whereby Dr. Pecora agreed to serve as co-chair of Celularity’s scientific and clinical advisory board for (i) a monthly fee of $10,000 and (ii) a one-time grant of restricted stock units, or RSUs, having a value of $125,000 on the grant date, which RSUs will vest in four successive equal annual installments from the date of grant. The scientific and clinical advisor agreement has a one year term and may be renewed for successive one year terms upon mutual agreement of the parties.
The foregoing descriptions of the material terms of the consulting agreement and the scientific and clinical advisor agreement are qualified in their entirety by reference to the complete text of such agreements, which Celularity intends to file with the SEC as exhibits to its Quarterly Report on Form 10-Q for the quarter ended September 30, 2022.
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: September 23, 2022 | CELULARITY INC. | |||||
| By: | /s/ Keary Dunn | |||||
| Keary Dunn | ||||||
| Chief Legal Officer | ||||||