|
Item 5.02
|
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers;
Compensatory Arrangements of Certain Officers
|
Aileron Therapeutics, Inc. (the “Company”), announced that on
September 4, 2019 Donald V. Dougherty, the Company’s Chief Financial Officer, had indicated his intent to leave the Company, effective September 13, 2019. Rick Wanstall, the Company’s Vice President, Finance and Operations and
principal accounting officer, will serve as the Company’s principal financial officer upon Mr. Dougherty’s departure.
Mr. Wanstall,
age 51, has served as the Company’s principal accounting officer since March 27, 2019 and has served as the Company’s Vice President, Finance and Operations since July 2018. From July 2014 to July 2018, Mr. Wanstall served as
Vice President, Finance at Moderna Therapeutics, Inc., a biotechnology company focused on drug discovery and drug development based on messenger RNA. Prior to Moderna, Mr. Wanstall served as Senior Vice President, Global Finance at Stream
Global Services, Inc., a multinational business process outsourcing company, from May 2010 to July 2014. Previously, Mr. Wanstall served in management roles in finance, accounting and SEC reporting for several technology and financial services
companies. Mr. Wanstall began his career at Coopers & Lybrand, LLC. Mr. Wanstall received a B.A. from Salem State College, and a M.B.A. from Babson College.
Mr. Wanstall was not appointed as principal financial officer pursuant to any arrangement or understanding between him and any other person. There are no
family relationships between Mr. Wanstall and any director, executive officer or any person nominated or chosen by us to become a director or executive officer.
A copy of the Company’s press release announcing Mr. Dougherty’s departure is furnished, but not filed, as Exhibit 99.1 to this Current
Report on Form 8-K.
Mr. Dougherty and the Company have agreed to enter into a separation agreement in
connection with his departure from the Company. Under the separation agreement, the Company will provide Mr. Dougherty with (i) six months of salary continuation payments, payable in equal installments in accordance with the Company’s
regular payroll practices, in an aggregate amount equal to six (6) months of Mr. Dougherty’s base salary, and (ii) payment on Mr. Dougherty’s behalf of the monthly premiums for group health and/or dental insurance
coverage under COBRA until the earlier of the date that is six (6) months after the effective date of the separation agreement or the date on which Mr. Dougherty becomes eligible to receive group health insurance coverage through another
employer. The separation agreement will also contain mutual releases, subject to customary exceptions, and covenants not to solicit or disparage and to cooperate with the Company. The foregoing summary of the principal terms of the separation
agreement does not purport to be complete and is qualified in its entirety by reference to the complete text of the separation agreement, a copy of which will be attached as an exhibit to the Company’s Quarterly Report on Form 10-Q for the three months ending September 30, 2019.