8-KLeadership ChangesRegulation FDExhibits & Filings

ALNYLAM PHARMACEUTICALS, INC. 8-K Report, Executive Changes (Jul 11, 2019)

Filed July 11, 2019For Securities:ALNY

Summary

This 8-K filing from Alnylam Pharmaceuticals, Inc. (ALNY) announces a CFO transition and related executive arrangements. Manmeet S. Soni will be resigning as Senior Vice President, Chief Financial Officer (CFO) effective August 12, 2019, and will provide transition assistance and consulting services for up to a year. In connection with his departure, Mr. Soni will receive a severance package including salary continuation and COBRA premium coverage. Alnylam is appointing Jeffrey Poulton as its new CFO, effective August 13, 2019. Mr. Poulton brings extensive financial leadership experience, including his most recent role as CFO of Indigo Ag, and prior significant roles at Shire plc. His compensation package includes a base salary, annual bonus potential, and a stock option grant. This transition is intended to ensure continuity in financial leadership and reporting for the company.

Key Highlights

  • 1Manmeet S. Soni resigns as CFO, effective August 12, 2019, after a transition period.
  • 2Mr. Soni will receive 12 months of salary continuation and COBRA premium coverage as severance.
  • 3Mr. Soni will provide consulting services for up to one year post-separation, with continued vesting of equity awards.
  • 4Jeffrey Poulton appointed as new CFO, effective August 13, 2019.
  • 5Mr. Poulton has significant prior experience as CFO of Indigo Ag and Shire plc.
  • 6Mr. Poulton's compensation includes a base salary of $530,000, annual bonus potential, and a stock option grant for 125,000 shares.
  • 7The company issued a press release on July 11, 2019, announcing the CFO change, which is furnished with this filing.

Frequently Asked Questions

Mr. Soni will receive 12 months of salary continuation, COBRA premium coverage until February 28, 2021 (or until he obtains other employer coverage), and continued vesting of equity awards through August 12, 2020, in exchange for transition assistance and consulting services. His vested equity awards will be exercisable through November 12, 2020.

Jeffrey Poulton has a strong financial background, most recently serving as CFO of Indigo Ag, Inc. Prior to that, he was the CFO of Shire plc. He officially joins Alnylam on July 11, 2019, and will succeed Mr. Soni as CFO effective August 13, 2019.

Mr. Poulton will receive an annual base salary of $530,000, be eligible for an annual cash bonus with a target of 50% of his base salary, and will be granted an option to purchase 125,000 shares of Alnylam's common stock. The stock options will have a ten-year term and a vesting schedule over four years.

The press release, dated July 11, 2019, officially announces the appointment of Jeffrey Poulton as the new CFO, succeeding Manmeet S. Soni. It serves to inform the public and investors about this key leadership change.