Summit Therapeutics Inc 8-K, filed Mar 2, 2021

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of The SecuritiesExchange Act of 1934

Date of Report (Date of Earliest Event Reported): February 26, 2021

Registrant’s Telephone Number, Including Area Code: 617-514-7149

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

On February 26, 2021, the Board of Directors (the “Board”) of Summit Therapeutics Inc. (the “Company”) elected Dr. Michael Wang to serve as a member of the Board. In connection with Dr. Wang’s election to the Board, the Compensation Committee of the Board approved a grant of options to Dr. Wang to purchase 70,000 shares in the aggregate of common stock, par value $0.01 per share at a strike price of $6.77, which shall vest in four equal annual installments with the first such installment occurring on February 26, 2022 (the one year anniversary of the grant date), subject to the terms and conditions of the applicable grant agreement.

On February 28, 2021, the Compensation Committee of the Board approved an additional grant of options to Dr. Wang to purchase 21,096 shares of common stock, par value $0.01 per share at a strike price of $6.77. This grant represents a pro rata amount of the annual 25,000 option board grant based on the number of days this year Dr. Wang is anticipated to serve as a director and shall vest in full on December 31, 2021.

SIGNATURE

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.