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.
Resignation of Michael Burgess, M.B.Ch.B., Ph.D. as the Head of Research and Development
On September 12, 2022, Michael Burgess, the Company’s Head of Research and Development, notified SpringWorks Therapeutics, Inc. (the “Company”) that he will be retiring, effective September 16, 2022 (the “Retirement Date”). Dr. Burgess’ retirement is not the result of any dispute or disagreement with the Company or the Board, or any matter relating to the Company’s operations, policies or practices.
In connection with Dr. Burgess’ retirement, Dr. Burgess and the Company entered into a Consulting and Separation Agreement (the “Consulting and Separation Agreement”) pursuant to which Dr. Burgess will act as Senior Strategic Advisor to the Company, effective as of the day immediately following the Retirement Date. The Company has agreed to pay Dr. Burgess an hourly rate of $300 for providing such advisory services and reimburse for reasonable expenses. Pursuant to the Consulting and Separation Agreement, the Company will also provide Dr. Burgess with benefits related to his retirement including (a) twelve (12) months of Dr. Burgess’s base salary plus Dr. Burgess’s target annual incentive compensation for 2022 and (b) if Dr. Burgess was participating in the Company’s group health plan, a monthly cash payment for the shorter of twelve (12) months and Dr. Burgess’ COBRA continuation period. The Consulting and Separation Agreement provides for customary general releases and waivers of claims by Dr. Burgess against the Company.
The foregoing description of the Consulting and Separation Agreement is not complete and is qualified in its entirety by reference to the full text of the Consulting and Separation Agreement, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
| Exhibit No. |
Description | |
| 10.1 | Consulting and Separation Agreement, dated September 12, 2022, by and between Michael Burgess and SpringWorks Therapeutics, Inc. | |
| 104 | Cover page interactive data file (embedded within the Inline XBRL document) |
SIGNATURES
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.
| Date: September 16, 2022 | SpringWorks Therapeutics, Inc. | |
| By: | /s/ Francis I. Perier, Jr. | |
| Francis I. Perier, Jr. | ||
| Chief Financial Officer | ||