Business Context and Reporting Period
This Form 8-K was filed by Corvus Pharmaceuticals, Inc. on December 16, 2020. The report discloses the Board of Directors' approval of 2021 annual base salaries and stock option awards for the company's Chief Executive Officer, Chief Financial Officer, and Senior Vice President and Chief Medical Officer.
Key Financial Metrics
The filing does not provide revenue, profit, cash flow, margins, debt, or liquidity metrics. It focuses exclusively on executive compensation arrangements.
Material Changes and Compensation Details
Effective December 16, 2020, the Board approved the following 2021 compensation packages pursuant to the 2016 Equity Incentive Award Plan. Stock options vest in equal monthly installments over 48 months, subject to continued service.
| Executive Officer | 2021 Base Salary | Stock Option Award (Shares) |
|---|---|---|
| Richard A. Miller, M.D. (CEO) | $300,000 | 320,000 |
| Leiv Lea (CFO) | $404,000 | 160,000 |
| Mehrdad Mobasher, M.D. (SVP & CMO) | $482,000 | 85,000 |
Guidance, Outlook, and Risks
The filing contains no financial guidance, outlook, management commentary on business performance, or discussion of risks and contingencies beyond the standard vesting conditions for the equity awards.
Key Facts for Investor Verification
- Verify the closing price of Corvus common stock on December 16, 2020, to determine the exercise price of the granted options.
- Confirm the total number of shares available under the 2016 Equity Incentive Award Plan to assess the impact of these grants.
- Note that the company is classified as an emerging growth company.