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. |
Director Appointment
On February 17, 2022, the board of directors (the “Board”) of 89bio, Inc. (the “Company”) appointed Edward Morrow Atkinson III as a member of the Board, effective November 1, 2021. Dr. Atkinson will serve as a Class I Director until the Company’s 2023 Annual Meeting of Stockholders and until his successor is duly elected and qualified, effective immediately.
Dr. Atkinson, age 56, has over 20 years of experience in biopharmaceutical development, launch, manufacturing and supply chain. Dr. Atkinson has served as Senior Vice President, Head of Commercial Manufacturing and Supply Chain for Vertex Pharmaceuticals, Inc., a biopharmaceutical company, since July 2020. From 2012 to June 2020, Dr. Atkinson served in various roles at Bristol Myers Squibb, a biopharmaceutical company, including as Senior Vice President of Global Manufacturing Operations from September 2019 to June 2020, Vice President and Integration Leader of Manufacturing and Cell Therapy from January 2019 to September 2019, Vice President of Internal Manufacturing, Biologics from June 2017 to January 2019 and Vice President of Biologics Development and Clinical Manufacturing from 2012 to June 2017. Prior to that, Dr. Atkinson served in roles at Cook Pharmica, LLC (now Catalent), Eli Lilly & Co., Targeted Genetics Corporation and Geron Corporation. Dr. Atkinson earned his B.S. in Biology from Indiana University-Bloomington and Ph.D. in Biological Sciences from Stanford University.
In accordance with the Company’s non-employee director compensation policy, which is described in the Company’s Proxy Statement on Schedule 14A filed with the Securities and Exchange Commission on April 15, 2021, Dr. Atkinson will receive an annual cash retainer of $40,000 for his service as a member of the Board. In addition, Dr. Atkinson was granted an option to purchase 30,000 shares of the Company’s common stock at an exercise price equal to the closing price of the Company’s common stock on The Nasdaq Global Market on the date of grant. The equity award was made under the Company’s Amended and Restated 2019 Equity Incentive Plan. The shares underlying the option will vest and become exercisable on the first, second and third anniversary of February 17, 2022, subject to Dr. Atkinson’s continued service to the Company. Dr. Atkinson has entered into the Company’s standard form of indemnification agreement, which was previously filed by the Company as Exhibit 10.1 to the Company’s Form S-1 filed on October 11, 2019.
There are no arrangements or understandings between Dr. Atkinson and any other persons pursuant to which he was elected as a director of the Company. There are no family relationships between Dr. Atkinson and any director or executive officer of the Company, and he has no direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.
On February 24, 2022, the Company issued a press release announcing Dr. Atkinson’s appointment. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
| Item 9.01 | Financial Statements and Exhibits |
(d) Exhibits. The following exhibit is being furnished herewith:
EXHIBIT INDEX
| Exhibit No. |
Description | |
| 99.1 | Press Release, dated February 24, 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.
| 89bio, Inc. | ||||||
| Date: February 24, 2022 | By: | /s/ Rohan Palekar | ||||
| Rohan Palekar | ||||||
| Chief Executive Officer | ||||||