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. |
Bonus Information and Equity Grants
On January 23, 2024, the Compensation Committee (the “Committee”) of the Board of Directors (the “Board”) of Quince Therapeutics, Inc. (the “Company”) determined that the executive officers would receive no salary increase for 2024. The Committee approved stock option grants to the Company’s executive officers (the “Option Awards”) with the effective grant date of February 1, 2024. The Option Awards were made pursuant to the Company’s 2019 Equity Incentive Plan and related grant documentation (collectively, the “2019 Plan”), previously filed with the Securities and Exchange Commission. The Option Awards will vest in equal monthly installments over the four-year period following the date of grant, subject to each executive officer’s continued service through each such vesting date.
2023 bonus payouts and the Option Awards for the Company’s executive officers are set forth below.
| Name | 2023 Bonus Payout |
Option Awards |
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| Dirk Thye Chief Executive Officer |
$ | 302,500 | 1,500,000 | |||||
| Charles Ryan President |
$ | 70,000 | 145,000 | |||||
| Brendan Hannah Chief Business Officer and Chief Operating Officer |
$ | 178,500 | 600,000 | |||||
The summary of the Option Awards above does not purport to be complete and is qualified in its entirety by the terms of the 2019 Plan, as may be amended from time to time, and each executive officer’s grant documentation.
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.
| Quince Therapeutics, Inc. | ||||||
| Date: January 29, 2024 | By: | /s/ Dirk Thye | ||||
| Name: Dirk Thye | ||||||
| Title: Chief Executive Officer | ||||||