Business Context and Reporting Period
This Form 8-K filing by Nuvation Bio Inc. (NUVB) reports a corporate governance event dated November 27, 2023. The company is a Delaware corporation with principal executive offices in New York, NY.
Key Financial Metrics
The filing does not provide revenue, profit, cash flow, margins, debt, or liquidity metrics. This report focuses exclusively on personnel appointments and compensation arrangements.
Material Changes
Effective November 27, 2023, the Board of Directors appointed Moses Makunje as the Company's Principal Accounting Officer and Principal Financial Officer. Mr. Makunje previously served as Vice President, Finance since January 2022 and Senior Director, Finance since July 2020.
Management Commentary and Compensation
- Appointment: Moses Makunje, 45, was promoted to Principal Accounting Officer and Principal Financial Officer.
- Experience: Mr. Makunje has over 16 years of experience in finance, accounting, and tax, including roles at Maze Therapeutics, Adverum Biotechnologies, and Ernst & Young. He is a Certified Public Accountant.
- Compensation: He will continue to receive an annual base salary of $343,873 and is eligible for a discretionary annual cash incentive bonus with a target of 35% of his salary.
- Related Parties: No family relationships exist between Mr. Makunje and any directors or executive officers, and no undisclosed arrangements influenced his selection.
Investor Verification Checklist
- Verify the effective date of the officer appointment (November 27, 2023).
- Confirm the new titles: Principal Accounting Officer and Principal Financial Officer.
- Review the disclosed compensation package: $343,873 base salary plus a 35% target bonus.
- Note that this filing contains no financial performance data or forward-looking guidance.