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Regeneron Pharmaceuticals 8-K Report, Executive Changes (Jan 31, 2024)

Reports
Leadership Changes
Filing Date
Filed January 31, 2024
Period End
January 26, 2024
Security
REGN
In the record · 2016–202610-K1110-Q338-K115

REGN filed 11 annual reports (10-K), 33 quarterly reports (10-Q) and 115 current reports (8-K) between 2016 and 2026.

  1. Leadership change8-K · Jan ’18Jan ’18
  2. Material agreement8-K · Aug ’20Aug ’20
  3. Leadership change8-K · Oct ’22Oct ’22
  4. Material agreement8-K · Oct ’26Oct ’26

01—Abstract

Summary

Summary of the 8-K filed January 31, 2024. Cited figures are marked; the original filing is the authoritative source.

Regeneron Pharmaceuticals, Inc. (REGN) has announced a planned succession in its finance leadership team.

Effective February 5, 2024, following the filing of their 2023 Form 10-K, Christopher Fenimore will be appointed as Senior Vice President, Finance and Chief Financial Officer, succeeding the retiring Robert E. Landry. Concurrently, Jason Pitofsky will be promoted to Vice President, Controller.

This transition is part of a previously disclosed CFO succession plan. Mr. Fenimore, with extensive experience within Regeneron and prior roles in the biotech and finance sectors, will see his 2024 base salary adjusted to $660,000a and received a significant equity award in December 2023 valued at $5 million.

Mr. Pitofsky's appointment to Controller is a promotion from his previous role as VP, Accounting and Financial Reporting, with no immediate changes to his compensation. Investors can view this as a continuation of internal talent development and a structured handover of critical financial oversight.

02—Key points

Key Highlights

  1. CFO Succession: Christopher Fenimore appointed as new Chief Financial Officer, succeeding retiring CFO Robert E. Landry.
  2. Internal Promotion: Fenimore has a long tenure at Regeneron, having served as SVP, Controller since 2021.
  3. Key Date: New CFO and Controller appointments are effective the day after Regeneron files its 2023 Form 10-K, expected on February 5, 2024.
  4. New CFO Compensation: Fenimore's 2024 base salary increased to $660,000.
  5. Significant Equity Grant for CFO: Fenimore received an equity award in December 2023 with a target grant date fair value of $5,000,000.
  6. Controller Appointment: Jason Pitofsky promoted to Vice President, Controller from VP, Accounting and Financial Reporting.
  7. No Compensation Change for Controller: Jason Pitofsky's compensation remains unchanged upon his appointment as Controller.

03—Questions

Frequently Asked Questions

  1. Who is the new Chief Financial Officer of Regeneron?

    Christopher Fenimore has been appointed as the new Senior Vice President, Finance and Chief Financial Officer. He is succeeding Robert E. Landry, who is retiring.

  2. When will the new CFO and Controller appointments be effective?

    The appointments are effective as of the day after Regeneron files its Annual Report on Form 10-K for the fiscal year ended December 31, 2023, which is expected to occur on February 5, 2024.

  3. What is the compensation for the new CFO?

    In connection with his appointment, Mr. Fenimore's 2024 base salary has been increased to $660,000. He was also granted an equity award in December 2023 with a target grant date fair value of $5,000,000, consisting of stock options and restricted stock.

  4. Has the compensation for the new Controller changed?

    No, Jason Pitofsky's current compensation arrangements were not changed in connection with his appointment as Vice President, Controller.

04—Continue

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