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<div id="a1" style="position:absolute;font-family:'Times New Roman';font-size:24px;font-weight:bold;left:312px;top:49px;">UNITED STATES</div><div id="a3" style="position:absolute;font-family:'Times New Roman';font-size:24px;font-weight:bold;left:150px;top:76px;">SECURITIES AND EXCHANGE COMMISSION </div><div id="a6" style="position:absolute;font-family:'Times New Roman';font-size:13.28px;font-weight:bold;left:339px;top:122px;">Washington,<div style="display:inline-block;width:4px">&#160;</div>D.C. 20549 </div><div id="a11" style="position:absolute;font-family:'Times New Roman';font-size:24px;font-weight:bold;left:349px;top:156px;">FORM </div><div id="a11_5_3" style="position:absolute;font-family:'Times New Roman';font-size:24px;font-weight:bold;left:429px;top:156px;"><ix:nonNumeric id="ID_0" name="dei:DocumentType" contextRef="FROM_Jan03_2022_TO_Jan03_2022_Entity_0001851657">8-K</ix:nonNumeric></div><div id="a17" style="position:absolute;font-family:'Times New 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<div id="a220" style="position:absolute;font-family:'Times New Roman';font-weight:bold;left:96px;top:96px;">Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment </div><div id="a222" style="position:absolute;font-family:'Times New Roman';font-weight:bold;left:96px;top:115px;">of Certain Officers; Compensatory Arrangements of Certain Officers.<div style="display:inline-block;width:4px">&#160;</div></div><div id="a225" style="position:absolute;font-family:'Times New Roman';font-style:italic;left:96px;top:149px;">Appointment of Principal Accounting Officer </div><div id="a227" style="position:absolute;font-family:'Times New Roman';left:144px;top:184px;">On January 3, 2022, Vaxxinity,<div style="display:inline-block;width:7px">&#160;</div>Inc. (the &#8220;Company&#8221;) appointed Jason Pesile, MBA, </div><div id="a235" style="position:absolute;font-family:'Times New Roman';left:96px;top:202px;">CPA,<div style="display:inline-block;width:6px">&#160;</div>as Senior Vice President, Finance &amp; Accounting.<div style="display:inline-block;width:5px">&#160;</div>The Company also designated him as the </div><div id="a242" style="position:absolute;font-family:'Times New Roman';left:96px;top:220px;">Company&#8217;s principal accounting officer,<div style="display:inline-block;width:6px">&#160;</div>effective January 3, 2022. </div><div id="a249" style="position:absolute;font-family:'Times New Roman';left:144px;top:255px;">Jason Pesile, age 48, is a seasoned finance executive with 20 years of experience in the </div><div id="a253" style="position:absolute;font-family:'Times New Roman';left:96px;top:273px;">biopharmaceutical space and most recently served as Vice President Finance, Corporate </div><div id="a254" style="position:absolute;font-family:'Times New Roman';left:96px;top:292px;">Controller at BeyondSpring Pharmaceuticals, a pharmaceutical research company, from 2020-</div><div id="a257" style="position:absolute;font-family:'Times New Roman';left:96px;top:310px;">2021. Prior to that, Mr. Pesile was the Executive Director,<div style="display:inline-block;width:6px">&#160;</div>Finance, at Progenics </div><div id="a259" style="position:absolute;font-family:'Times New Roman';left:96px;top:328px;">Pharmaceuticals, Inc., a pharmaceutical research company, from 2016-2020.<div style="display:inline-block;width:5px">&#160;</div>He has worked at </div><div id="a265" style="position:absolute;font-family:'Times New Roman';left:96px;top:347px;">multiple biopharma companies in the past 10 years, where he led various aspects of financial </div><div id="a266" style="position:absolute;font-family:'Times New Roman';left:96px;top:365px;">operations, including accounting, financial reporting, audit and financial planning. Earlier in his </div><div id="a270" style="position:absolute;font-family:'Times New Roman';left:96px;top:384px;">career, Mr. Pesile<div style="display:inline-block;width:5px">&#160;</div>worked in management consulting, and as a global project manager at </div><div id="a274" style="position:absolute;font-family:'Times New Roman';left:96px;top:402px;">Schering-Plough and Merck focused on post-merger integration. Jason graduated from the </div><div id="a281" style="position:absolute;font-family:'Times New Roman';left:96px;top:420px;">Wharton School of the University of Pennsylvania with a B.S. degree in Finance and holds an </div><div id="a284" style="position:absolute;font-family:'Times New Roman';left:96px;top:439px;">MBA from Columbia Business School. He is a Certified Public Accountant in the State of New </div><div id="a293" style="position:absolute;font-family:'Times New Roman';left:96px;top:457px;">Jersey. </div><div id="a295" style="position:absolute;font-family:'Times New Roman';left:144px;top:492px;">In connection with Mr. Pesile&#8217;s<div style="display:inline-block;width:6px">&#160;</div>appointment as Senior Vice President, Finance &amp; </div><div id="a300" style="position:absolute;font-family:'Times New Roman';left:96px;top:510px;">Accounting, the Company and Mr. Pesile have entered into an offer letter (the &#8220;Offer Letter&#8221;) </div><div id="a305" style="position:absolute;font-family:'Times New Roman';left:96px;top:528px;">setting forth the material terms of Mr. Pesile&#8217;s<div style="display:inline-block;width:6px">&#160;</div>employment with the Company, which are </div><div id="a308" style="position:absolute;font-family:'Times New Roman';left:96px;top:547px;">summarized below. </div><div id="a310" style="position:absolute;font-family:'Times New Roman';left:120px;top:582px;">&#9679;</div><div id="a312" style="position:absolute;font-family:'Times New Roman';font-style:italic;left:144px;top:582px;">Base Salary and Incentive Compensation</div><div id="a313" style="position:absolute;font-family:'Times New Roman';left:408px;top:582px;">. Mr. Pesile will receive a base salary of </div><div id="a318" style="position:absolute;font-family:'Times New Roman';left:144px;top:601px;">$310,000 and will be eligible to participate in all of the Company&#8217;s compensation and </div><div id="a321" style="position:absolute;font-family:'Times New Roman';left:144px;top:619px;">benefit plans and programs. Mr. Pesile will have a target bonus of 30% of his base salary. </div><div id="a328" style="position:absolute;font-family:'Times New Roman';left:144px;top:637px;">The bonus shall be determined in the sole discretion of the Company based in part on his </div><div id="a330" style="position:absolute;font-family:'Times New Roman';left:144px;top:656px;">performance and the overall performance of the Company during the calendar year.<div style="display:inline-block;width:5px">&#160;</div></div><div id="a332" style="position:absolute;font-family:'Times New Roman';left:120px;top:691px;">&#9679;</div><div id="a334" style="position:absolute;font-family:'Times New Roman';font-style:italic;left:144px;top:691px;">One-Time New Hire Awards</div><div id="a337" style="position:absolute;font-family:'Times New Roman';left:327px;top:691px;">. In connection with his appointment, Mr. Pesile will receive </div><div id="a343" style="position:absolute;font-family:'Times New Roman';left:144px;top:710px;">new-hire, one-time awards as follows: (i) a cash award in the amount of $80,000, which </div><div id="a350" style="position:absolute;font-family:'Times New Roman';left:144px;top:728px;">is subject to certain repayment provisions, and (ii) a stock option award with a targeted </div><div id="a354" style="position:absolute;font-family:'Times New Roman';left:144px;top:747px;">value of $201,500 on the grant date, of which 25% will vest on the first anniversary of </div><div id="a368" style="position:absolute;font-family:'Times New Roman';left:144px;top:765px;">Mr. Pesile&#8217;s<div style="display:inline-block;width:6px">&#160;</div>start date and the remainder in equal quarterly installments each quarterly </div><div id="a373" style="position:absolute;font-family:'Times New Roman';left:144px;top:783px;">period thereafter. </div><div id="a376" style="position:absolute;font-family:'Times New Roman';left:120px;top:819px;">&#9679;</div><div id="a378" style="position:absolute;font-family:'Times New Roman';font-style:italic;left:144px;top:819px;">Indemnification</div><div id="a379" style="position:absolute;font-family:'Times New Roman';left:245px;top:819px;">. In connection with his appointment, the Company will also enter into an </div><div id="a380" style="position:absolute;font-family:'Times New Roman';left:144px;top:837px;">Indemnification Agreement with Mr. Pesile which sets forth the terms of the Company&#8217;s </div><div id="a386" style="position:absolute;font-family:'Times New Roman';left:144px;top:856px;">contractual obligation to provide indemnification, advance expenses, provide insurance, </div><div id="a387" style="position:absolute;font-family:'Times New Roman';left:144px;top:874px;">and related provisions. The Indemnification Agreement shall be in the form previously </div><div id="a390" style="position:absolute;font-family:'Times New Roman';left:144px;top:893px;">approved by the Board.<div style="display:inline-block;width:4px">&#160;</div></div></div>
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<div id="a393" style="position:absolute;font-family:'Times New Roman';left:144px;top:96px;">The description above is a summary of the material terms of the Offer Letter and the </div><div id="a396" style="position:absolute;font-family:'Times New Roman';left:96px;top:115px;">Indemnification Agreement and each is qualified in its entirety by reference to such document. </div><div id="a401" style="position:absolute;font-family:'Times New Roman';left:96px;top:133px;">The Offer Letter will be filed as an exhibit to the Company&#8217;s quarterly report on Form 10-Q for </div><div id="a405" style="position:absolute;font-family:'Times New Roman';left:96px;top:152px;">the quarter ended March 31, 2022 and the Form of Indemnification Agreement was filed as </div><div id="a409" style="position:absolute;font-family:'Times New Roman';left:96px;top:170px;">Exhibit 10.1 to the Company&#8217;s Registration Statement on Form S-1/A on November 5, 2021, and </div><div id="a412" style="position:absolute;font-family:'Times New Roman';left:96px;top:188px;">each is incorporated by reference herein. </div><div id="a414" style="position:absolute;font-family:'Times New Roman';left:144px;top:223px;">Mr. Pesile is not a party to any transaction that would require disclosure under </div><div id="a417" style="position:absolute;font-family:'Times New Roman';left:96px;top:241px;">Item 404(a) of Regulation S-K. </div><div id="a427" style="position:absolute;font-family:'Times New Roman';font-style:italic;left:96px;top:276px;">Increase in Board Size; Appointment of Director<div style="display:inline-block;width:2px">&#160;</div>;<div style="display:inline-block;width:4px">&#160;</div>Committee Changes </div><div id="a433" style="position:absolute;font-family:'Times New Roman';left:144px;top:310px;">On January 3, 2022, the Company&#8217;s Board of Directors (&#8220;Board&#8221;) increased the size of </div><div id="a440" style="position:absolute;font-family:'Times New Roman';left:96px;top:328px;">the Board from five members to six and appointed George Hornig as a member of the Board. </div><div id="a448" style="position:absolute;font-family:'Times New Roman';left:96px;top:347px;">The Board also designated Mr. Hornig as the Company&#8217;s<div style="display:inline-block;width:6px">&#160;</div>new independent director and chair of </div><div id="a453" style="position:absolute;font-family:'Times New Roman';left:96px;top:365px;">the Board&#8217;s Audit Committee,<div style="display:inline-block;width:5px">&#160;</div>effective January 3, 2022.<div style="display:inline-block;width:4px">&#160;</div></div><div id="a459" style="position:absolute;font-family:'Times New Roman';left:144px;top:400px;">Effective upon the appointment of Mr. Horning to the Board, the Board also appointed </div><div id="a461" style="position:absolute;font-family:'Times New Roman';left:96px;top:418px;">Greg Blatt to serve as chair of the Board&#8217;s Compensation committee and Peter Diamandis to </div><div id="a462" style="position:absolute;font-family:'Times New Roman';left:96px;top:436px;">serve as chair of the Nominating and Governance Committee.<div style="display:inline-block;width:4px">&#160;</div></div><div id="a464" style="position:absolute;font-family:'Times New Roman';left:144px;top:471px;">George Hornig, age 67, is currently the Chairman of Xometry (Nasdaq: XMTR), an AI-</div><div id="a473" style="position:absolute;font-family:'Times New Roman';left:96px;top:489px;">driven platform for on-demand manufacturing of industrial parts. Mr. Horning joined Xometry&#8217;s </div><div id="a477" style="position:absolute;font-family:'Times New Roman';left:96px;top:508px;">Board of Directors in 2013. Mr. Horning is also Co-Chairman (and Audit Chairman) of </div><div id="a482" style="position:absolute;font-family:'Times New Roman';left:96px;top:526px;">Healthwell Acquisition Corp., a special purpose acquisition company (appointed in 2021), </div><div id="a486" style="position:absolute;font-family:'Times New Roman';left:96px;top:544px;">Managing Partner and Co-Founder of The Seed Lab, an early-stage venture fund that he joined in </div><div id="a493" style="position:absolute;font-family:'Times New Roman';left:96px;top:563px;">2019, and a director for Syntax Advisors, an investment advisor (since 2018).<div style="display:inline-block;width:4px">&#160;</div>From 2010-2016, </div><div id="a499" style="position:absolute;font-family:'Times New Roman';left:96px;top:581px;">Mr. Hornig was Senior Managing Director and COO of PineBridge Investments (formerly AIG </div><div id="a500" style="position:absolute;font-family:'Times New Roman';left:96px;top:600px;">Investment Management). Prior to joining PineBridge, Mr. Hornig spent 11<div style="display:inline-block;width:5px">&#160;</div>years at Credit </div><div id="a501" style="position:absolute;font-family:'Times New Roman';left:96px;top:618px;">Suisse Asset Management as Managing Director and Global COO. From 1993-1999, Mr. Hornig </div><div id="a505" style="position:absolute;font-family:'Times New Roman';left:96px;top:636px;">was Executive Vice President of Deutsche Bank Americas. Earlier in his career,<div style="display:inline-block;width:5px">&#160;</div>Mr. Horning </div><div id="a506" style="position:absolute;font-family:'Times New Roman';left:96px;top:655px;">was Managing Director and COO of Wasserstein<div style="display:inline-block;width:5px">&#160;</div>Perella &amp; Co, worked in the M&amp;A group of </div><div id="a507" style="position:absolute;font-family:'Times New Roman';left:96px;top:673px;">First Boston and was an Associate with the law firm of Skadden, Arps, Slate, Meagher &amp; Flom </div><div id="a509" style="position:absolute;font-family:'Times New Roman';left:96px;top:692px;">LLP.<div style="display:inline-block;width:10px">&#160;</div>During his career, Mr.<div style="display:inline-block;width:5px">&#160;</div>Hornig has served as a Director of Forrester Research, Unity </div><div id="a510" style="position:absolute;font-family:'Times New Roman';left:96px;top:710px;">Mutual Life, Veridian<div style="display:inline-block;width:6px">&#160;</div>Group, KBL Merger Corp IV,<div style="display:inline-block;width:6px">&#160;</div>Office Tiger,<div style="display:inline-block;width:5px">&#160;</div>Daily Candy and Merchants </div><div id="a512" style="position:absolute;font-family:'Times New Roman';left:96px;top:728px;">Preferred. Mr. Hornig received his A.B., J.D. and M.B.A. from Harvard University. </div><div id="a514" style="position:absolute;font-family:'Times New Roman';left:144px;top:763px;">Hr. Hornig will receive customary compensation from the Company for serving as a non-</div><div id="a516" style="position:absolute;font-family:'Times New Roman';left:96px;top:781px;">employee director and chair of the Audit Committee, in accordance with the Company&#8217;s Non-</div><div id="a522" style="position:absolute;font-family:'Times New Roman';left:96px;top:800px;">Employee Director Compensation Policy as described in the Company&#8217;s Prospectus, filed with </div><div id="a523" style="position:absolute;font-family:'Times New Roman';left:96px;top:818px;">the U.S. Securities and Exchange Commission on November 12, 2021 and incorporated by </div><div id="a526" style="position:absolute;font-family:'Times New Roman';left:96px;top:836px;">reference herein.<div style="display:inline-block;width:4px">&#160;</div></div><div id="a529" style="position:absolute;font-family:'Times New Roman';left:144px;top:871px;">The Board has determined that Mr. Hornig meets the independent standards adopted by </div><div id="a534" style="position:absolute;font-family:'Times New Roman';left:96px;top:889px;">the Board in compliance with the Nasdaq corporate governance listing standards and Item 407(a) </div><div id="a540" style="position:absolute;font-family:'Times New Roman';left:96px;top:908px;">of Regulation S-K.<div style="display:inline-block;width:4px">&#160;</div></div></div>
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<div id="a546" style="position:absolute;font-family:'Times New Roman';left:144px;top:96px;">Mr. Hornig is not a party to any transaction that would require disclosure under </div><div id="a549" style="position:absolute;font-family:'Times New Roman';left:96px;top:115px;">Item 404(a) of Regulation S-K. </div><div id="a559" style="position:absolute;font-family:'Times New Roman';font-weight:bold;left:96px;top:149px;">Item 7.01. Regulation FD Disclosure.<div style="display:inline-block;width:4px">&#160;</div></div><div id="a566" style="position:absolute;font-family:'Times New Roman';left:144px;top:184px;">The Company issued a press release on January 4, 2022 announcing the appointment of </div><div id="a569" style="position:absolute;font-family:'Times New Roman';left:96px;top:202px;">Jason Pesile as the Company&#8217;s Senior Vice<div style="display:inline-block;width:6px">&#160;</div>President, Finance &amp; Accounting and George Hornig </div><div id="a570" style="position:absolute;font-family:'Times New Roman';left:96px;top:220px;">as a member of the Board. A copy of the press release is furnished as Exhibit 99.1 to this report.<div style="display:inline-block;width:4px">&#160;</div></div><div id="a573" style="position:absolute;font-family:'Times New Roman';left:144px;top:255px;">The information in this Item 7.01 and Exhibit 99.1 attached hereto is intended to be </div><div id="a574" style="position:absolute;font-family:'Times New Roman';left:96px;top:273px;">furnished and shall not be deemed &#8220;filed&#8221; for purposes of Section 18 of the Securities Exchange </div><div id="a575" style="position:absolute;font-family:'Times New Roman';left:96px;top:292px;">Act of 1934 (the &#8220;Exchange Act&#8221;) or otherwise subject to the liabilities of that section, nor shall </div><div id="a577" style="position:absolute;font-family:'Times New Roman';left:96px;top:310px;">it be deemed incorporated by reference in any filing under the Securities Act of 1933, or the </div><div id="a578" style="position:absolute;font-family:'Times New Roman';left:96px;top:328px;">Exchange Act, except as shall be expressly set forth by specific reference in such filing.<div style="display:inline-block;width:8px">&#160;</div></div><div id="a583" style="position:absolute;font-family:'Times New Roman';font-weight:bold;left:96px;top:363px;">Item 9.01. Financial Statements and Exhibits.<div style="display:inline-block;width:4px">&#160;</div></div><div id="a585" style="position:absolute;font-family:'Times New Roman';left:144px;top:397px;">(d) Exhibits </div><div id="a587" style="position:absolute;font-family:'Times New Roman';font-size:14.72px;font-weight:bold;left:96px;top:432px;">Exhibit No.<div style="display:inline-block;width:24px">&#160;</div>Description </div><div id="a593" style="position:absolute;font-family:'Times New Roman';left:96px;top:464px;">99.1<div style="display:inline-block;width:64px">&#160;</div></div><div id="a595" style="position:absolute;font-family:'Times New Roman';color:#0000FF;left:192px;top:464px;"><a href="exhibit991.htm" style="color:#0000FF;text-decoration:underline;">Press Release issued by Vaxxinity,<span style="display:inline-block;width:7px;text-decoration:underline">&#160;</span>Inc. on January 4, 2022.</a></div><div id="a597" style="position:absolute;font-family:'Times New Roman';left:96px;top:499px;">104<div style="display:inline-block;width:72px">&#160;</div>Cover Page Interactive Data File (embedded within the Inline XBRL document).<div style="display:inline-block;width:4px">&#160;</div></div><div id="a601" style="position:absolute;font-family:'Times New Roman';left:96px;top:533px;"><div style="display:inline-block;width:192px">&#160;</div></div></div>
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<div id="a604" style="position:absolute;font-family:'Times New Roman';font-weight:bold;left:356px;top:96px;">SIGNATURES </div><div id="a606" style="position:absolute;font-family:'Times New Roman';left:144px;top:131px;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has </div><div id="a607" style="position:absolute;font-family:'Times New Roman';left:96px;top:149px;">duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. </div><div id="a610" style="position:absolute;font-family:'Times New Roman';left:432px;top:184px;">Vaxxinity,<div style="display:inline-block;width:7px">&#160;</div>Inc.<div style="display:inline-block;width:4px">&#160;</div></div><div id="a620" style="position:absolute;font-family:'Times New Roman';left:418px;top:236px;">By: </div><div id="a622" style="position:absolute;font-family:'Times New Roman';left:462px;top:236px;">/s/ Ren&#233; Paula Molina </div><div id="a631" style="position:absolute;font-family:'Times New Roman';left:462px;top:255px;">Name: </div><div id="a633" style="position:absolute;font-family:'Times New Roman';left:522px;top:255px;">Ren&#233; Paula Molina </div><div id="a639" style="position:absolute;font-family:'Times New Roman';left:462px;top:273px;">Title: </div><div id="a641" style="position:absolute;font-family:'Times New Roman';left:522px;top:273px;">General Counsel and </div><div id="a642" style="position:absolute;font-family:'Times New Roman';left:522px;top:292px;">Secretary </div><div id="a612" style="position:absolute;font-family:'Times New Roman';left:96px;top:218px;">Date: January 4, 2022</div><div id="a616" style="position:absolute;font-family:'Times New Roman';left:96px;top:310px;"><div style="display:inline-block;width:384px">&#160;</div></div></div>
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vaxx8k20220103
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported):
January 3, 2022
Vaxxinity, Inc.
(Exact name of registrant as specified in its charter)
Delaware
333-261063
86-2083865
(State or other jurisdiction
(Commission
(IRS Employer
of incorporation)
File Number)
Identification No.)
1717 Main St
,
Ste 338
Dallas
,
TX
,
75201
(Address of principal executive offices) (Zip Code)
Registrant's telephone number,
including area code: (
254
)
244-5739
Not applicable
(Former name or former address, if changed since last report)
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:
☐
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:
Title of each class
Trading
Symbol(s)
Name of each exchange
on which registered
Class A Common Stock, par value
$0.0001 per share
VAXX
The
Nasdaq
Global Market
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.
☐
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment
of Certain Officers; Compensatory Arrangements of Certain Officers.
Appointment of Principal Accounting Officer
On January 3, 2022, Vaxxinity,
Inc. (the "Company") appointed Jason Pesile, MBA,
CPA,
as Senior Vice President, Finance & Accounting.
The Company also designated him as the
Company's principal accounting officer,
effective January 3, 2022.
Jason Pesile, age 48, is a seasoned finance executive with 20 years of experience in the
biopharmaceutical space and most recently served as Vice President Finance, Corporate
Controller at BeyondSpring Pharmaceuticals, a pharmaceutical research company, from 2020-
2021. Prior to that, Mr. Pesile was the Executive Director,
Finance, at Progenics
Pharmaceuticals, Inc., a pharmaceutical research company, from 2016-2020.
He has worked at
multiple biopharma companies in the past 10 years, where he led various aspects of financial
operations, including accounting, financial reporting, audit and financial planning. Earlier in his
career, Mr. Pesile
worked in management consulting, and as a global project manager at
Schering-Plough and Merck focused on post-merger integration. Jason graduated from the
Wharton School of the University of Pennsylvania with a B.S. degree in Finance and holds an
MBA from Columbia Business School. He is a Certified Public Accountant in the State of New
Jersey.
In connection with Mr. Pesile's
appointment as Senior Vice President, Finance &
Accounting, the Company and Mr. Pesile have entered into an offer letter (the "Offer Letter")
setting forth the material terms of Mr. Pesile's
employment with the Company, which are
summarized below.
●
Base Salary and Incentive Compensation
. Mr. Pesile will receive a base salary of
$310,000 and will be eligible to participate in all of the Company's compensation and
benefit plans and programs. Mr. Pesile will have a target bonus of 30% of his base salary.
The bonus shall be determined in the sole discretion of the Company based in part on his
performance and the overall performance of the Company during the calendar year.
●
One-Time New Hire Awards
. In connection with his appointment, Mr. Pesile will receive
new-hire, one-time awards as follows: (i) a cash award in the amount of $80,000, which
is subject to certain repayment provisions, and (ii) a stock option award with a targeted
value of $201,500 on the grant date, of which 25% will vest on the first anniversary of
Mr. Pesile's
start date and the remainder in equal quarterly installments each quarterly
period thereafter.
●
Indemnification
. In connection with his appointment, the Company will also enter into an
Indemnification Agreement with Mr. Pesile which sets forth the terms of the Company's
contractual obligation to provide indemnification, advance expenses, provide insurance,
and related provisions. The Indemnification Agreement shall be in the form previously
approved by the Board.
The description above is a summary of the material terms of the Offer Letter and the
Indemnification Agreement and each is qualified in its entirety by reference to such document.
The Offer Letter will be filed as an exhibit to the Company's quarterly report on Form 10-Q for
the quarter ended March 31, 2022 and the Form of Indemnification Agreement was filed as
Exhibit 10.1 to the Company's Registration Statement on Form S-1/A on November 5, 2021, and
each is incorporated by reference herein.
Mr. Pesile is not a party to any transaction that would require disclosure under
Item 404(a) of Regulation S-K.
Increase in Board Size; Appointment of Director
;
Committee Changes
On January 3, 2022, the Company's Board of Directors ("Board") increased the size of
the Board from five members to six and appointed George Hornig as a member of the Board.
The Board also designated Mr. Hornig as the Company's
new independent director and chair of
the Board's Audit Committee,
effective January 3, 2022.
Effective upon the appointment of Mr. Horning to the Board, the Board also appointed
Greg Blatt to serve as chair of the Board's Compensation committee and Peter Diamandis to
serve as chair of the Nominating and Governance Committee.
George Hornig, age 67, is currently the Chairman of Xometry (Nasdaq: XMTR), an AI-
driven platform for on-demand manufacturing of industrial parts. Mr. Horning joined Xometry's
Board of Directors in 2013. Mr. Horning is also Co-Chairman (and Audit Chairman) of
Healthwell Acquisition Corp., a special purpose acquisition company (appointed in 2021),
Managing Partner and Co-Founder of The Seed Lab, an early-stage venture fund that he joined in
2019, and a director for Syntax Advisors, an investment advisor (since 2018).
From 2010-2016,
Mr. Hornig was Senior Managing Director and COO of PineBridge Investments (formerly AIG
Investment Management). Prior to joining PineBridge, Mr. Hornig spent 11
years at Credit
Suisse Asset Management as Managing Director and Global COO. From 1993-1999, Mr. Hornig
was Executive Vice President of Deutsche Bank Americas. Earlier in his career,
Mr. Horning
was Managing Director and COO of Wasserstein
Perella & Co, worked in the M&A group of
First Boston and was an Associate with the law firm of Skadden, Arps, Slate, Meagher & Flom
LLP.
During his career, Mr.
Hornig has served as a Director of Forrester Research, Unity
Mutual Life, Veridian
Group, KBL Merger Corp IV,
Office Tiger,
Daily Candy and Merchants
Preferred. Mr. Hornig received his A.B., J.D. and M.B.A. from Harvard University.
Hr. Hornig will receive customary compensation from the Company for serving as a non-
employee director and chair of the Audit Committee, in accordance with the Company's Non-
Employee Director Compensation Policy as described in the Company's Prospectus, filed with
the U.S. Securities and Exchange Commission on November 12, 2021 and incorporated by
reference herein.
The Board has determined that Mr. Hornig meets the independent standards adopted by
the Board in compliance with the Nasdaq corporate governance listing standards and Item 407(a)
of Regulation S-K.
Mr. Hornig is not a party to any transaction that would require disclosure under
Item 404(a) of Regulation S-K.
Item 7.01. Regulation FD Disclosure.
The Company issued a press release on January 4, 2022 announcing the appointment of
Jason Pesile as the Company's Senior Vice
President, Finance & Accounting and George Hornig
as a member of the Board. A copy of the press release is furnished as Exhibit 99.1 to this report.
The information in this Item 7.01 and Exhibit 99.1 attached hereto is intended to be
furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange
Act of 1934 (the "Exchange Act") or otherwise subject to the liabilities of that section, nor shall
it be deemed incorporated by reference in any filing under the Securities Act of 1933, or the
Exchange Act, except as shall be expressly set forth by specific reference in such filing.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
Exhibit No.
Description
99.1
Press Release issued by Vaxxinity,
Inc. on January 4, 2022.
104
Cover Page Interactive Data File (embedded within the Inline XBRL document).
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.
Vaxxinity,
Inc.
By:
/s/ René Paula Molina
Name:
René Paula Molina
Title:
General Counsel and
Secretary
Date: January 4, 2022