Business Context and Reporting Period
This Form 8-K is a current report filed by Catalyst Biosciences, Inc. on January 29, 2016, regarding events occurring on January 27, 2016. The filing addresses Item 5.02, detailing the approval of executive officer compensation by the Compensation Committee.
Key Financial Metrics
The filing does not provide revenue, profit, cash flow, margins, debt, or liquidity metrics. It focuses exclusively on executive compensation adjustments.
| Executive Officer | 2016 Base Salary | 2015 Performance Bonus | Salary Increase vs. 2015 |
|---|---|---|---|
| Nassim Usman, Ph.D. (President & CEO) | $453,200 | $169,400 | 3% |
| Edwin L. Madison, Ph.D. (CSO) | $357,000 | $94,325 | 2% |
| Fletcher Payne (CFO) | $325,480 | $85,162 | 3% |
Material Changes
The primary material change is the adjustment of base salaries effective January 1, 2016, and the awarding of fiscal year 2015 performance bonuses. The base salary increases range from 2% to 3% compared to the prior year.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, management commentary on business outlook, or discussion of risks and contingencies. No unusual items were reported.
Investor Verification Checklist
- Verify the total cash compensation impact on the company's operating expenses for 2016.
- Confirm the performance metrics used to calculate the 2015 bonuses for the executive team.
- Review the company's cash position to ensure liquidity supports these compensation obligations.