Business Context and Reporting Period
This Form 8-K is a current report filed by Angion Biomedica Corp. (not Elicio Therapeutics, Inc.) on March 10, 2021, covering events that occurred on March 8, 2021. The company is incorporated in Delaware and its common stock trades on The Nasdaq Global Select Market under the symbol ANGN. The filing addresses Item 5.02 regarding the appointment of certain officers and compensatory arrangements.
Key Financial Metrics
This filing does not contain revenue, profit, cash flow, margin, debt, or liquidity metrics. It focuses exclusively on executive and director compensation decisions.
Material Changes and Compensation Details
On March 8, 2021, the Board of Directors approved the following compensation adjustments:
- Executive Base Salaries (2021):
- Jay R. Venkatesan, M.D. (President and CEO): $587,000
- Jennifer J. Rhodes (SVP, General Counsel and Chief Compliance Officer): $412,000
- Executive Performance Bonuses (2020):
- Jay R. Venkatesan, M.D.: $195,000
- Jennifer J. Rhodes: $160,000
- Non-Employee Director Awards:
- Annual stock option awards of 15,000 shares each were granted to Victor Ganzi, Allen Nissenson, Gilbert Omenn, and Karen Wilson.
- Exercise price: Closing price of common stock on March 8, 2021.
- Vesting: Earlier of the first anniversary of the grant date or the next annual stockholder's meeting.
Guidance, Outlook, and Risks
The filing text does not provide financial guidance, outlook, management commentary on operations, or specific risk factors beyond the standard disclosure of compensation arrangements.
Investor Verification Checklist
- Verify the correct registrant name is Angion Biomedica Corp., not Elicio Therapeutics, Inc.
- Confirm the exact vesting schedule and exercise price for the 15,000 stock options granted to non-employee directors.
- Review the 2021 Equity Incentive Award Plan to understand the total pool of shares available for future grants.
- Check subsequent filings for the actual payout of the 2020 performance bonuses.