Current Report Filing (8-k)
February 22 2019 - 4:07PM
Edgar (US Regulatory)
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):
February 19, 2019
BioTime,
Inc.
(Exact
name of registrant as specified in its charter)
California
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1-12830
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94-3127919
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(State
or other jurisdiction
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(Commission
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(IRS
Employer
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of
incorporation)
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File
Number)
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Identification
No.)
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1010
Atlantic Avenue
Suite
102
Alameda,
California 94501
(Address
of principal executive offices)
(510)
521-3390
(Registrant’s
telephone number, including area code)
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:
☐
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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☐
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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☐
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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☐
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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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. ☐
References
in this Report to “BioTime,” “we” or “us” refer to BioTime, Inc.
Section
5 - Corporate Governance and Management
Item
5.02 - Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements
of Certain Officers
(b)
As
previously disclosed by BioTime, Inc. (the “Company”), on January 3, 2019, Russell Skibsted ceased serving as the
Chief Financial Officer of the Company. On February 19, 2019, the Company and Mr. Skibsted entered into a separation agreement
pursuant to which Mr. Skibsted is entitled to receive:
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1.
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Cash
severance equal to six months of his annual base salary and a portion of the bonus target
amount equal to $100,000.
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2.
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Payment
of COBRA group health insurance premiums for Mr. Skibsted and his eligible dependents
for up to a maximum of six months.
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3.
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Accelerated
vesting of all of Mr. Skibsted’s outstanding option grants and extension of the
exercise period until January 2, 2020.
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The
foregoing description of the separation agreement is qualified in its entirety by reference to the full text of the separation
agreement, which will be filed as an exhibit to our Quarterly Report on Form 10-Q for the quarter ended March 31, 2019.
On
February 19, 2019, Stephana Patton resigned as the General Counsel of the Company, with an anticipated effective date of March
1, 2019. The Company has engaged several consultants to help manage the legal function while it conducts a search for a new General
Counsel.
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.
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BIOTIME,
INC.
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Date:
February 22, 2019
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By
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/s/
Brian M. Culley
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Brian
M. Culley
Chief
Executive Officer
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