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(Commission File Number)
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(IRS Employer Identification No.)
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(Address of principal executive offices)
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(Zip Code)
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Title of each class
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Trading symbol
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Name of each exchange on which registered
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“
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Exhibit No.
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Description
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Notice of Pendency of Settlement of Action dated July 18, 2022.
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104
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Cover Page Interactive Data File (embedded within the Inline XBRL document).
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Ionis Pharmaceuticals, Inc.
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Dated: July 18, 2022
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By:
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/s/ Patrick R. O’Neil
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Patrick R. O’Neil
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Executive Vice President, Chief Legal Officer and General Counsel
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LEO SHUMACHER, derivatively on behalf
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)
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of IONIS PHARMACEUTICALS, INC.,
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)
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)
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Plaintiff,
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)
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)
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v.
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)
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JOSEPH LOSCALZO, M.D., PH.D.,
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)
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BRETT P. MONIA, PH.D., SPENCER R.
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)
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BERTHELSEN, M.D., ALLENE M. DIAZ,
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)
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MICHAEL HAYDEN, PH.D., JOANE.
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)
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C.A. No. 2022-0059-LWW
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HERMAN, JOSEPH KLEIN, III,
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)
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FREDERICK T. MUTO, B. LYNNE
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)
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PARSHALL and JOSEPH H. WENDER
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)
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)
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Defendants.
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)
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)
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-and-
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)
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)
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JONIS PHARMACEUTICALS, INC., a
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)
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Delaware corporation,
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)
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)
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Nominal Defendant.
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)
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I. |
WHY ARE YOU RECEIVING THIS NOTICE?
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II. |
BACKGROUND TO THE DERIVATIVE ACTION AND SETTLEMENT
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III. |
WHAT ARE THE TERMS OF THE SETTLEMENT?
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1. |
As soon as practicable after the Effective Date, the Board of
Directors shall amend the Non-Employee Director Compensation Policy (the "Policy") to reflect the following changes:
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a. |
No incumbent non-employee director shall receive more than $450,000
in annual equity compensation per year (based on the aggregate grant date fair value), and no newly appointed non- employee director shall receive more than $675,000 in initial equity compensation (based on the aggregate grant date fair
value).
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b. |
The initial equity grant to a new Board member will vest over three
(3) years (instead of the current 1-year vest);
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c. |
Within two (2) years of adoption of the amended Policy, and through
his/her tenure, each non-employee director agrees to hold Ionis
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d. |
The Compensation Committee will annually review the set of peer companies, with input from the Company's independent compensation consultant; and
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e. |
The above amendments to the Policy will remain in effect for three (3) years (unless the Policy is amended and approved by the Company's stockholders in the
intervening period).
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2. |
Following the recent departure of two Board members, the Company
agrees to maintain the size of the Ionis Board at no more than ten (10) members unless the Board is required to add another director under applicable law.
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3. |
The Company shall disclose any "Golden Leash" arrangements.
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IV. |
WHAT CLAIMS WILL THE SETTLEMENT RELEASE?
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V. |
WHAT ARE THE REASONS FOR SETTLING THE ACTION?
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VI. |
HOW WILL THE ATTORNEYS GET PAID?
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VII. |
WHEN WILL THE SETTLEMENT HEARING TAKE PLACE?
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IX. |
DO I HAVE A
RIGHT TO APPEAR AND OBJECT?
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COOCH AND TAYLOR, P.A.
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MORRIS, NICHOLS, ARSHT
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Blake A. Bennett
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& TUNNELL LLP
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The Nemours Building
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D. McKinley Measley
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1007 N. Orange St., Suite 1120
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1201 North Market Street
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Wilmington, Delaware 19801
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Wilmington, Delaware 19801
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(302) 984-3800
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(302) 658-9200
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Attorneys for Plaintiffs
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Attorneys for Defendants
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XI. |
HOW DO I GET
ADDITIONAL INFORMATION?
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BY ORDER OF THE COURT
|
||||
Dated
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July 18, 2022
|
/s/ Susan Judge
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||
|
Register in Chancery
|
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Document and Entity Information |
Jul. 18, 2022 |
---|---|
Cover [Abstract] | |
Document Type | 8-K |
Amendment Flag | false |
Document Period End Date | Jul. 18, 2022 |
Entity File Number | 000-19125 |
Entity Registrant Name | IONIS PHARMACEUTICALS, INC. |
Entity Central Index Key | 0000874015 |
Entity Incorporation, State or Country Code | DE |
Entity Tax Identification Number | 33-0336973 |
Entity Address, Address Line One | 2855 Gazelle Court |
Entity Address, City or Town | Carlsbad |
Entity Address, State or Province | CA |
Entity Address, Postal Zip Code | 92010 |
City Area Code | 760 |
Local Phone Number | 931-9200 |
Entity Emerging Growth Company | false |
Written Communications | false |
Soliciting Material | false |
Pre-commencement Tender Offer | false |
Pre-commencement Issuer Tender Offer | false |
Title of 12(b) Security | Common Stock, $.001 Par Value |
Trading Symbol | IONS |
Security Exchange Name | NASDAQ |
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