UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
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 March 17, 2023, the Compensation Committee (the “Compensation Committee”) of the Board of Directors of Vaccinex, Inc. (the “Company”), approved the award of options under the Company’s 2018 Omnibus Incentive Plan to certain named executive officers and the principal executive and financial officers of the Company to be granted on March 31, 2023 (the “Grant Date”) as follows: (i) Maurice Zauderer, President and Chief Executive Officer, options to purchase 56,000 shares of the common stock of the Company (“Common Stock”), (ii) Ernest Smith, Senior Vice President and Chief Scientific Officer, options to purchase 40,000 shares of Common Stock, and (iii) Scott Royer, Chief Financial Officer, options to purchase 32,000 shares of Common Stock. Subject to the terms of the respective award notices, these options vest on the first four anniversaries of the Grant Date in equal installments. The options expire the day before the tenth anniversary of the Grant Date, except for Dr. Zauderer’s options, which expire the day before the fifth anniversary of the date of grant. The grant price of these options will be the fair market value as of the Grant Date, except for Dr. Zauderer’s options, which will have a grant price of 110% of the fair market value as of such date.
In addition, on March 17, 2023, the Compensation Committee approved, effective April 1, 2023, 5% increases to the base salaries for Dr. Zauderer, Dr. Smith, and Mr. Royer resulting in base salaries of $426,930, $302,380, and $275,334, respectively.
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.
| VACCINEX, INC. | ||||||
| Date: March 23, 2023 | ||||||
| By: | /s/ Scott E. Royer | |||||
| Scott E. Royer | ||||||
| Chief Financial Officer | ||||||