Lyell Immunopharma, Inc 8-K, filed Oct 28, 2021
Lyell Immunopharma, Inc. (LYEL)
About this 8-K
Lyell Immunopharma, Inc filed this 8-K on October 28, 2021, reporting on events of October 23, 2021.
Items reported
- Item 5.02: Director or officer change, or executive pay
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| Item 5.02 | Departures of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers |
On October 23, 2021, the compensation committee (the “Compensation Committee) of the board of directors (the “Board”) of Lyell Immunopharma, Inc. (the “Company”) approved the promotion of Stephen Hill, the Company’s Chief Technical Operations Officer, to the position of Chief Operating Officer, to serve in such position until his successor is appointed or until his earlier resignation or removal. Such promotion will be effective on November 1, 2021.
Mr. Hill, age 51, has served as the Company’s Chief Technical Operations Officer since joining the Company in June 2019. Prior to joining the Company, he was Senior Vice President, Head of Global Biologics Operations at AstraZeneca plc, a publicly-traded company, from June 2018 to June 2019 and its Vice President, Site Head from March 2016 to June 2018. From December 2012 through February 2016, Mr. Hill served in multiple positions at Amgen Inc., including as Vice President, Bulk Manufacturing, Executive Director, Plant Manager and Executive Director, Manufacturing Technologies. Mr. Hill received a M.B.A., a B.S. in Microbiology and B.A. in Political Science from the University of Washington.
Mr. Hill’s employment is at-will. There are no arrangements or understandings between Mr. Hill and any other persons pursuant to which Mr. Hill was promoted as Chief Operating Officer of the Company. There are also no family relationships between Mr. Hill and any director or executive officer of the Company and he has no direct or indirect interest in any transaction or proposed transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.
In connection with Mr. Hill’s promotion to Chief Operating Officer, the Compensation Committee adjusted Mr. Hill’s annual base salary to $485,000 with an annual incentive bonus target of up to 55% of his annual base salary, based on the achievement of performance objectives to be determined by the Board.
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.
| Lyell Immunopharma, Inc. | ||||||
| Dated: October 27, 2021 | ||||||
| By: | /s/ Heather Turner | |||||
| Heather Turner | ||||||
| Chief General Counsel | ||||||