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. |
Effective January 5, 2023 (the “Separation Date”), Leslie Sloan will no longer serve as Chief Operating Officer of Aeglea BioTherapeutics, Inc. (the “Company”). Dr. Sloan’s departure is not related to any legal, compliance or other matters of the Company.
Subject to Dr. Sloan’s execution of a general release of claims, and in accordance with the terms of her Severance Agreement with the Company, Dr. Sloan will be entitled to receive the following benefits: (i) a severance payment of $435,000, equal to twelve (12) months of her annual salary; (ii) a lump sum bonus payment of $174,000; (iii) payment of COBRA premiums to maintain group healthcare coverage as in effect on the Separation Date for twelve (12) months; and (iv) acceleration of vesting of Dr. Sloan’s outstanding option awards with respect to the number of shares that would have vested if Dr. Sloan had remained in service through an additional twelve (12) months beyond the Separation Date.
The foregoing description of the Severance Agreement is qualified in its entirety by reference to the complete text of the Severance Agreement, a copy of which is filed as exhibit 10.18 to the Company’s Annual Report on 10-K for the year ended December 31, 2021.
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 hereunto duly authorized.
| AEGLEA BIOTHERAPEUTICS, INC. | ||||||
| Date: January 6, 2023 | By: | /s/ Jonathan Alspaugh | ||||
| Jonathan Alspaugh | ||||||
| Chief Financial Officer | ||||||