UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Securities registered pursuant to Section 12(b) of the Act:
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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.
(b) On April 15, 2022, Mark Asbury informed Allakos Inc. (the “Company”) of his decision to retire from his position as Chief Legal Officer and General Counsel of the Company effective April 19, 2022 and agreed to assist the Company in making an orderly transition of Mr. Asbury’s responsibilities by remaining an employee through June 30, 2022. Meg Fitzgerald has been appointed as the Company’s Senior Vice President, General Counsel, Secretary and Chief Compliance Officer effective April 19, 2022.
On April 17, 2022, in connection with Mr. Asbury’s departure, he and the Company entered into a Separation Agreement (the “Separation Agreement”) setting forth the terms of the separation. Among other matters, the Separation Agreement provides for the Company to pay Mr. Asbury a lump sum cash payment in the amount of $552,590.82, inclusive of nine months of COBRA premiums. The Separation Agreement contains a customary release of claims.
The Separation Agreement becomes effective on the eighth day following its execution provided that neither party has exercised its right to revoke such agreement in accordance with its terms.
The foregoing description of the Separation Agreement does not purport to be a complete description of the rights and obligations of the parties thereunder and is qualified in its entirety by reference to the Separation Agreement, a copy of which is attached hereto as Exhibit 10.1 and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
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Description |
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10.1 |
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Separation Agreement, dated April 17, 2022, by and between Mark Asbury and Allakos Inc. |
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104 |
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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 thereunto duly authorized.
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Allakos Inc. |
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Date: |
April 20, 2022 |
By: |
/s/ H. Baird Radford, III |
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H. Baird Radford, III |