UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
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CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 18, 2021
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Emerging growth company ☐
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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 May 18, 2021, the Compensation Committee (the “Committee”) of the Board of Directors of Allogene Therapeutics, Inc. (“Allogene”) reviewed the performance and compensation of Rafael Amado, M.D., Chief Medical Officer and Executive Vice President of Research and Development.
Dr. Amado has had extraordinary achievements to date in 2021, including initiating Allogene’s clinical trial of ALLO-316 in advanced or metastatic clear cell renal cell carcinoma, accelerating the advancement of Allogene’s TurboCAR technology and achieving clearance of an IND for Allogene’s first TurboCAR candidate, ALLO-605, in relapsed/refractory multiple myeloma, and recently advancing positive data from Allogene’s clinical trials of ALLO-501 and ALLO-501A in relapsed/refractory non-Hodgkin lymphoma. In light of these achievements and as a retention measure, the Committee increased Dr. Amado’s annual base salary for the remainder of 2021 from $525,000 to $600,000. In addition, the Committee granted an equity award of 200,534 restricted stock units, with 33,422 vesting in one year, 66,844 vesting in two years and 100,268 vesting in three years. The Committee believes the equity grant is a critical retention measure ahead of Allogene’s plans for rapid advancement of its pipeline, including the potential initiation of a planned pivotal trial of ALLO-501A at the end of 2021 and potential future submission for approval of ALLO-501A.
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.
| ALLOGENE THERAPEUTICS, INC. | |||||||||||
| By: | /s/ David Chang, M.D., Ph.D. | ||||||||||
| David Chang, M.D., Ph.D. | |||||||||||
| President, Chief Executive Officer | |||||||||||
Dated: May 20, 2021