Business Context and Reporting Period
This Form 8-K Current Report was filed by Corvus Pharmaceuticals, Inc. on March 19, 2020. The registrant is an emerging growth company incorporated in Delaware with its principal executive offices in Burlingame, California. Its common stock trades on the Nasdaq Global Market under the symbol CRVS.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on corporate governance and compensation matters rather than financial performance.
Material Changes
On March 19, 2020, the Board of Directors approved stock option awards for all directors, excluding Richard A. Miller, M.D. The awards were granted effective as of the close of business on that date. Each director received an award of 15,000 shares. The exercise price for these options is equal to the closing price of the Company's common stock on the date of grant. The options vest on the one-year anniversary of the grant date, subject to continued service.
| Name of Director | Stock Option Award (shares) |
|---|---|
| Ian T. Clark | 15,000 |
| Elisha P. (Terry) Gould III | 15,000 |
| Linda S. Grais, M.D., J.D. | 15,000 |
| Steve E. Krognes | 15,000 |
| Scott W. Morrison | 15,000 |
| Peter Thompson, M.D. | 15,000 |
Guidance, Outlook, and Risks
The filing text does not provide a clear value for guidance, outlook, management commentary on operations, risks, contingencies, or unusual items. The report is limited to the disclosure of the director compensation arrangement pursuant to the Company's 2016 Equity Incentive Award Plan.
Investor Verification Checklist
- Verify the closing stock price on March 19, 2020, to determine the specific exercise price of the granted options.
- Confirm the total number of shares authorized under the 2016 Equity Incentive Award Plan to assess remaining capacity.
- Review the Company's most recent 10-K or 10-Q for financial performance data, as this 8-K contains no financial metrics.
- Note that Richard A. Miller, M.D., was excluded from this specific round of director stock option awards.