8-KLeadership Changes

ALNYLAM PHARMACEUTICALS, INC. 8-K Report, Executive Changes (Apr 30, 2007)

Filed April 30, 2007For Securities:ALNY

Summary

This Form 8-K filing from Alnylam Pharmaceuticals, Inc. (ALNY) reports a key change in its Board of Directors. Peter Barrett, Ph.D., a significant figure representing founding venture capitalist Atlas Venture, has informed the Board of his intention to resign. Dr. Barrett will not stand for re-election at the upcoming 2007 Annual Meeting of Stockholders on June 1, 2007, after serving since the company's inception in 2002. The reason cited for his departure is Dr. Barrett's desire to concentrate on his other private portfolio companies. While his resignation is noted as a strategic decision by Dr. Barrett, investors may view this as a shift in the board's composition, particularly the representation from early-stage investors. The company acknowledges his valuable contributions during his tenure.

Key Highlights

  • 1Dr. Peter Barrett, a Board Director and representative of founding venture capitalist Atlas Venture, intends to resign.
  • 2Dr. Barrett will not seek re-election at the upcoming 2007 Annual Meeting of Stockholders on June 1, 2007.
  • 3His resignation is effective upon the expiration of his current term at the annual meeting.
  • 4The stated reason for resignation is to focus on other private portfolio companies.
  • 5Dr. Barrett has been a Board member since Alnylam's inception in 2002.
  • 6The company acknowledges Dr. Barrett's valuable contributions to the Board.

Frequently Asked Questions

Dr. Peter Barrett is a member of Alnylam's Board of Directors and represents Atlas Venture, a founding venture capital firm of the company. His departure is significant because he has been a board member since the company's inception in 2002 and represents an important early investor group.

Dr. Barrett has informed the Board of his intention to resign and will not stand for re-election at the 2007 Annual Meeting of Stockholders, which is scheduled for June 1, 2007. His resignation will be effective upon the expiration of his current term at that meeting.

The reason provided for Dr. Barrett's resignation is his desire to focus more intently on his other private portfolio companies.

This filing does not specify whether a new director representing Atlas Venture will be appointed. It only states Dr. Barrett's intention not to stand for re-election.