ORIC Pharmaceuticals, Inc. Form 8-K Summary
Business context and reporting period
ORIC Pharmaceuticals, Inc. filed this Current Report on Form 8-K on November 9, 2021, with the report signed on November 10, 2021. The filing concerns changes to the company’s board of directors and related committee assignments. It does not report quarterly or annual financial results.
Financial metrics and liquidity
The filing does not provide revenue, profit or loss, cash flow, margins, debt, liquidity, cash balance, or other financial performance metrics.
Material changes
- Carl Gordon, Ph.D., C.F.A. resigned as a director effective November 9, 2021.
- The resignation was voluntary and did not result from any disagreement with the company or its board.
- Angie You, Ph.D. was appointed as a Class II director, with a term expiring at the 2022 annual meeting of stockholders.
- Dr. You was appointed to the Audit Committee and the Nominating and Corporate Governance Committee.
Compensation, outlook, risks, and unusual items
- Dr. You will receive compensation under the company’s non-employee director policy, including annual cash retainers of $35,000 for board service, $7,500 for Audit Committee service, and $4,000 for Nominating and Corporate Governance Committee service.
- She received an option to purchase 33,250 shares of common stock. The option vests at a rate of 1/36 per month, subject to continued service, and will vest in full upon a qualifying change in control.
- Dr. You entered into the company’s standard indemnification agreement. The filing states that no related-party transaction requiring disclosure under Item 404(a) of Regulation S-K exists and that there are no arrangements or understandings regarding her selection.
- The filing provides no updated financial guidance, operating outlook, contingencies, or material risk commentary.
Investor verification points
- Confirm the final composition of the board and committee memberships following Dr. Gordon’s resignation and Dr. You’s appointment.
- Review the company’s director compensation policy and equity plan for the complete terms of Dr. You’s option.
- Consult subsequent filings for any changes to board membership, committee assignments, or equity compensation.
- Use the company’s periodic reports, rather than this 8-K, to verify financial condition, liquidity, operating results, and development-program outlook.