Business Context and Reporting Period
This Form 8-K Current Report was filed by Acrivon Therapeutics, Inc. on March 11, 2025, with the earliest event reported on that date. The filing addresses significant changes in executive leadership, specifically the departure of the Chief Financial Officer and the appointment of a successor.
Key Financial Metrics
The filing does not provide financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity metrics. The document focuses exclusively on personnel changes and associated compensation arrangements.
Material Changes
- Departure of CFO: Rasmus Holm-Jorgensen notified the company on March 11, 2025, of his decision to step down as Chief Financial Officer, effective April 1, 2025. The departure is for personal reasons to pursue an opportunity in Europe and is not the result of any disagreement with the company.
- Appointment of New CFO: Adam Levy, PhD, MBA, was appointed as Chief Financial Officer and Principal Financial Officer, effective April 1, 2025. Dr. Levy previously served as Senior Vice President and Head of Corporate Affairs and Investor Relations since July 2023.
Compensation and Management Commentary
Dr. Levy's appointment includes an amended offer letter with the following compensation terms:
- Base Salary: $490,000 annually.
- Performance Bonus: Eligible for an annual bonus of up to 40% of base salary.
- Equity Grant: 35,209 stock options with an exercise price equal to the fair market value on the grant date.
- Vesting Schedule: Options vest over 4 years, with 25% vesting on the one-year anniversary and the remainder in monthly installments of 2.083% thereafter, subject to continued service.
Management confirmed there are no family relationships between Dr. Levy and other directors or officers, and no undisclosed transactions requiring reporting under Item 404(a) of Regulation S-K.
Investor Verification Checklist
- Verify the effective date of the CFO transition (April 1, 2025) to ensure continuity of financial reporting.
- Review the attached Amended Offer Letter (Exhibit 10.1) for full terms of Dr. Levy's compensation.
- Confirm the absence of any disagreements regarding the departure of the former CFO, Rasmus Holm-Jorgensen.
- Monitor future filings for the impact of the leadership change on the company's financial strategy and investor relations.