UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On December 22, 2022, the Compensation Committee (the “Committee”) of the Board of Directors (the “Board”) of Summit Therapeutics Inc. (the “Company”) recommended, and on December 27, 2022 the Board approved, (i) an increase in the annual base salary of Dr. Mahkam Zanganeh, the Company’s co-Chief Executive Officer and President, to $600,000, effective January 1, 2023, with a bonus opportunity of up to 60% based on satisfaction of certain performance conditions and subject to Board approval, (ii) a bonus in the amount of $202,500 payable to Dr. Zanganeh on account of her services to the Company in 2022 and (iii) an extraordinary bonus in the amount of $250,000, payable to Dr. Zanganeh in recognition of Dr. Zanganeh's exceptional work, commitment and expertise in connection with the Company's previously announced transaction with Akeso, Inc.
On December 22, 2022, the Committee approved (i) an increase in the annual base salary of Ankur Dhingra, the Company’s Chief Financial Officer, to $500,000, effective January 1, 2023, (ii) a bonus in the amount of $131,918 payable to Mr. Dhingra on account of his services to the Company in 2022 and (iii) an extraordinary bonus in the amount of $250,000, payable to Mr. Dhingra in recognition of Mr. Dhingra’s exceptional work, commitment and expertise in connection with the Company’s previously announced transaction with Akeso, Inc.
Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits
Exhibit Number | Description |
104 | Cover Page Interactive (embedded within the Inline XBRL Document) |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
SUMMIT THERAPEUTICS INC. | ||
Date: December 27, 2022 | By: |
/s/ Ankur Dhingra |
Ankur Dhingra | ||
Chief Financial Officer |