Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On April 18, 2019, the board of directors of Seres Therapeutics, Inc. (the “Company”) appointed Marcus Chapman as Principal Financial and Accounting Officer of the Company. Mr. Chapman will also continue in his role as Vice President, Finance.
Mr. Chapman, 48, has served as our Vice President, Finance since January 2018. From August 2007 to March 2015, Mr. Chapman served in roles of increasing seniority, culminating as Senior Director of Finance and Interim Head of Finance for Takeda Oncology (“Takeda”), the oncology business unit of Takeda Pharmaceuticals Co. Ltd. In these roles, Mr. Chapman oversaw finance functions supporting U.S. sales, U.S. and global marketing, operations, global medical affairs and manufacturing. Prior to Takeda, Mr. Chapman held senior roles at Clarion Healthcare Consulting and Strategic Decisions Group. He began his career at LaSalle Partners in their Investment Banking and Investment Management groups. Mr. Chapman received his B.A. in economics from Wheaton College and his MBA from The Tuck School of Business at Dartmouth College.
Mr. Chapman has been granted the following options to purchase shares of the Company’s common stock: (i) options to purchase 25,000 shares granted on March 25, 2015 with an exercise price of $15.77 per share, (ii) options to purchase 12,500 shares granted on February 1, 2016 with an exercise price of $26.20 per share, (iii) options to purchase 10,000 shares granted on January 26, 2017 with an exercise price of $9.89 per share, (iv) options to purchase 18,000 shares granted on January 30, 2018 with an exercise price of $10.42 per share, (v) options to purchase 23,000 shares granted on February 1, 2019 with an exercise price of $6.38 per share and (vi) options to purchase 23,000 shares granted on February 6, 2019 with an exercise price of $6.15 per share. Each option described in clauses (i) through (v) vest as to 25% of the shares underlying such option on the first anniversary of the applicable grant date and in 12 quarterly installments during the three-year period thereafter, subject to Mr. Chapman’s continued service with the Company through the applicable vesting date. The option described in clause (vi) is subject to performance-based vesting, subject to Mr. Chapman’s continued service with the Company through the applicable vesting date. Mr. Chapman was also granted 7,500 restricted stock units on December 7, 2016, which were fully vested on December 7, 2018 and subsequently sold by Mr. Chapman. On November 26, 2018, Mr. Chapman was granted 12,000 restricted stock units, which vest in full on November 1, 2019, subject to Mr. Chapman’s continued service with the Company through the vesting date.
