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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 August 6, 2025, Dr. Helen Thackray, Chief Research and Development Officer of BioCryst Pharmaceuticals, Inc., a Delaware corporation (the “Company”), notified the Company of her intention to resign from her role as Chief Research and Development Officer of the Company, effective September 1, 2025 (the “Effective Date”). After participating in the CEO accelerator program and not being selected as the Company’s next CEO, Dr. Thackray has decided to pursue new opportunities. Dr. Thackray cited no disagreement with the Board of Directors (the “Board”) or management relating to the Company, its operations, policies, or practices.
In connection with her separation, the Company and Dr. Thackray entered into a Separation Agreement, pursuant to which Dr. Thackray will receive the following separation benefits in exchange for a general release of claims in favor of the Company: (i) one year of continued base salary, (ii) payment of her 2025 annual incentive plan bonus based on actual performance, (iii) payment of her target 2025 annual incentive plan bonus, (iv) up to 12 months of Company-paid group health plan continuation coverage, (v) up to six months of outplacement services, and (vi) accelerated vesting of her outstanding equity awards scheduled to vest in 2026.
On August 7, 2025, the Compensation Committee of the Board also approved a Consulting Agreement with Dr. Thackray, effective as of the Effective Date, pursuant to which Dr. Thackray will provide transition services until December 31, 2025. Under the Consulting Agreement, Dr. Thackray will receive (i) a monthly consulting fee of $12,500, (ii) continued vesting of outstanding equity awards for the duration of the Consulting Agreement, and (iii) continued exercisability of her vested options until the date that is six months following the termination of the Consulting Agreement.
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 hereunto duly authorized.
| Date: August 11, 2025 | BioCryst Pharmaceuticals, Inc. | ||
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By: |
/s/ Alane Barnes | ||
| Alane Barnes | |||
| Chief Legal Officer | |||