Current Report Filing (8-k)
December 27 2022 - 04:07PM
Edgar (US Regulatory)
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2022-12-22 iso4217:USD xbrli:shares iso4217:USD xbrli:shares
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): December
22, 2022
|
Summit Therapeutics Inc. |
|
(Exact
Name of Registrant as Specified in Its Charter) |
|
|
|
|
|
Delaware |
001-36866 |
37-1979717 |
(State
or Other Jurisdiction
of Incorporation) |
(Commission
File Number) |
(IRS
Employer
Identification No.) |
| |
|
|
|
2882
Sand Hill Road,
Suite 106,
Menlo Park,
CA
|
94025 |
|
(Address
of Principal Executive Offices) |
(Zip
Code) |
Registrant’s Telephone Number, Including Area
Code: 617-514-7149
|
Not Applicable |
|
(Former
Name or Former Address, If Changed Since Last Report) |
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 (see General
Instruction A.2. below):
☐ Written communications pursuant to Rule 425 under the
Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the
Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b)
under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c)
under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
|
Title
of Each Class |
Trading
Symbol(s) |
Name
of Each Exchange on Which Registered |
|
Common stock, $0.01 par value per share |
SMMT |
The
Nasdaq Stock Market LLC |
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. |
On December 22, 2022, the Compensation Committee (the “Committee”)
of the Board of Directors (the “Board”) of Summit Therapeutics Inc.
(the “Company”) recommended, and on December 27, 2022 the Board
approved, (i) an increase in the annual base salary of Dr. Mahkam
Zanganeh, the Company’s co-Chief Executive Officer and President,
to $600,000, effective January 1, 2023, with a bonus opportunity of
up to 60% based on satisfaction of certain performance conditions
and subject to Board approval, (ii) a bonus in the amount of
$202,500 payable to Dr. Zanganeh on account of her services to the
Company in 2022 and (iii) an extraordinary bonus in the amount of
$250,000, payable to Dr. Zanganeh in recognition of Dr. Zanganeh's
exceptional work, commitment and expertise in connection with the
Company's previously announced transaction with Akeso, Inc.
On December 22, 2022, the Committee approved (i) an increase in the
annual base salary of Ankur Dhingra, the Company’s Chief Financial
Officer, to $500,000, effective January 1, 2023, (ii) a bonus in
the amount of $131,918 payable to Mr. Dhingra on account of his
services to the Company in 2022 and (iii) an extraordinary bonus in
the amount of $250,000, payable to Mr. Dhingra in recognition of
Mr. Dhingra’s exceptional work, commitment and expertise in
connection with the Company’s previously announced transaction with
Akeso, Inc.
| Item
9.01 |
Financial
Statements and Exhibits. |
(d)
Exhibits
|
Exhibit Number |
Description |
| |
|
| 104 |
Cover
Page Interactive (embedded within the Inline XBRL
Document) |
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, thereunto duly authorized.
|
|
SUMMIT
THERAPEUTICS INC. |
| |
|
| |
|
|
Date:
December 27, 2022 |
By: |
/s/ Ankur Dhingra
|
| |
|
Ankur Dhingra |
|
|
|
Chief
Financial Officer |
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