Lyell Immunopharma, Inc 8-K, filed Jun 9, 2025
Lyell Immunopharma, Inc. (LYEL)
About this 8-K
Lyell Immunopharma, Inc filed this 8-K on June 9, 2025.
Items reported
- Item 5.02: Director or officer change, or executive pay
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SECURITIES AND EXCHANGE COMMISSION
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CURRENT REPORT
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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. |
On June 9, 2025, the Board of Directors (the “Board”) of Lyell Immunopharma, Inc. (the “Company”) increased the authorized size of the Board from seven directors to eight directors and, upon recommendation of the Nominating and Corporate Governance Committee of the Board, appointed Mark Bachleda, Pharm.D., M.B.A., to the Board as a Class I director. Dr. Bachleda’s term will expire, along with the term of the other Class I director, at the Company’s annual meeting of stockholders in 2028.
In connection with Dr. Bachleda’s appointment to the Board, and pursuant to the Company’s non-employee director compensation policy, previously filed as Exhibit 10.1 to the Company’s Quarterly Report on Form 10-Q filed with the U.S. Securities and Exchange Commission (the “SEC”) on August 7, 2024 (the “Non-Employee Director Compensation Policy”), Dr. Bachleda will receive an annual cash retainer for his service on the Board and any committee of the Board he is later appointed to, an initial equity grant and annual equity grants, each in the amounts set forth in the Non-Employee Director Compensation Policy, as adjusted for the reverse stock split of the Company’s outstanding common stock at a ratio of 1-for-20, which became effective on May 30, 2025.
The Company has also entered into its standard indemnification agreement with Dr. Bachleda in the form previously filed as Exhibit 10.9 to the Company’s Registration Statement on Form S-1 (No. 333-256470), as amended, filed with the SEC on May 25, 2021.
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 thereunto duly authorized.
| Lyell Immunopharma, Inc. | ||||||
| Date: June 9, 2025 | By: | /s/ Charles Newton | ||||
| Charles Newton | ||||||
| Chief Financial Officer | ||||||