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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.
On February 12, 2021, Coherus BioSciences, Inc. (the “Company”) announced the appointment of McDavid Stilwell as the Company’s Chief Financial Officer, effective as of March 8, 2021.
Mr. Stilwell previously served as the Company’s Executive Vice President, Corporate Development, Investor Relations, and Financial Strategy since October 2020. Previously, he was Senior Vice President, Communications and Investor Relations at Sangamo Therapeutics. Prior to joining Sangamo Mr. Stilwell served as Vice President, Corporate Communications, Investor Relations & Business Development at Orexigen Therapeutics, Inc., and, from 2005 to 2012, as Director, Business Development, Corporate Communications and Financial Analysis at GTx, Inc. Earlier, Mr. Stilwell worked for five years as Senior Investment Analyst for Shadwell Capital, a hedge fund. Mr. Stilwell received a B.A. from St. John’s College, Annapolis, Maryland, and a M.B.A. from Harvard Business School.
There are currently no arrangements or understandings between Mr. Stilwell and any other person pursuant to which Mr. Stilwell was selected as an executive officer. There are no family relationships between Mr. Stilwell and any director or other executive officer of the Company, or with any person nominated or chosen to become an officer or a director of the Company. The Company has had no transactions since the beginning of its last fiscal year, and has no transactions currently proposed, in which Mr. Stilwell, or any member of his immediate family, has an interest requiring disclosure under Item 404(a) of Regulation S-K.
In connection with Mr. Stilwell’s appointment as Chief Financial Officer, the Company anticipates entering into a new arrangement with Mr. Stilwell to reflect his appointment. In addition, the Company will enter into an indemnification agreement with Mr. Stilwell (the “Indemnification Agreement”) in accordance with the Company’s standard practice and pursuant to the form previously approved by the Company’s board of directors and its stockholders. The Indemnification Agreement, among other things, requires the Company to indemnify Mr. Stilwell to the fullest extent permitted by Delaware law, including indemnification of expenses such as attorneys’ fees, judgments, penalties, fines and settlement amounts incurred by the executive officer in any action or proceeding, including any action or proceeding by or in right of us, arising out of the person’s services as an executive officer. The foregoing description of the Indemnification Agreement is a summary of the material terms of such agreement and is qualified in its entirety by reference to the Indemnification Agreement, which was filed as Exhibit 10.13 to the Company’s Registration Statement on Form S-1/A on October 24, 2014 and is incorporated by reference herein.
Mr. Stilwell succeeds Jean-Frédéric Viret, Ph.D., who notified the Company on February 8, 2021 of his resignation as Chief Financial Officer and from his employment with the Company, in each case to be effective on March 7, 2021, in order to pursue a new opportunity. Dr. Viret’s resignation is not due to any disagreement with the Company on any matter relating to the Company’s operations, financial statements, internal controls, auditors, policies or practices.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: February 12, 2021 |
| COHERUS BIOSCIENCES, INC. | |
By: | /s/ Dennis M. Lanfear | ||
Name: | Dennis M. Lanfear | ||
Title: | Chairman, President and Chief Executive Officer | ||
