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 Arrangement of Certain Officers. |
On August 28, 2023, the Company appointed William Kullback, age 63, as Chief Financial Officer. Prior to joining the Company, Mr. Kullback served as Chief Financial Officer at Epic Sciences, Inc. from November 2022 to March 2023; Chief Financial Officer at BioLegend, Inc. from May 2017 to August 2022; and Chief Financial Officer, Secretary and Treasurer at Lombard Medical, Inc. from 2014 to 2017. Prior to Lombard Medical, Inc., Mr. Kullback held a variety of senior accounting and finance related roles at various companies. Mr. Kullback earned an Masters of Business Administration and a Bachelor of Arts in Economics and English from State University of New York at Buffalo.
The Company entered into an employment letter agreement with Mr. Kullback on August 10, 2023, which is attached hereto as Exhibit 10.1. The employment letter agreement has no specific term and provides for at-will employment. Mr. Kullback’s annual base salary will start at $430,000 and Mr. Kullback’s annual target bonus will be 50% of his annual base salary. Mr. Kullback will also be provided a signing bonus of $100,000 which will be repayable to the Company if Mr. Kullback resigns or is terminated for cause within twelve months after the date of the agreement. The Company will also recommend to its Board of Directors that Mr. Kullback be granted an option to purchase 300,000 shares of the Company’s common stock at the fair market value as of the date of the grant.
Mr. Kullback is eligible to participate in our change in control and severance arrangement at the same level as our non-CEO executive officers and will execute the Company’s standard indemnification agreement.
Mr. Kullback is not a party to any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.
| Item 8.01. | Other Events. |
On August 29, 2023, the Company issued a press release announcing the appointment of Mr. Kullback as the Company’s Chief Financial Officer. The press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and incorporated into this Item 8.01 by reference.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits.
| Exhibit |
Description | |
| 10.1 | Offer Letter between the Company and William Kullback dated August 10, 2023. | |
| 99.1 | Press Release dated August 29, 2023 | |
| 104 | Cover Page Interactive Data File (formatted as Inline XBRL) | |
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.
| TELESIS BIO INC. | ||||||
| Date: August 29, 2023 | By: | /s/ Todd R. Nelson | ||||
| Name: | Todd R. Nelson | |||||
| Title: | Chief Executive Officer | |||||