Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On April 11, 2023, the Board of Directors (the “Board”) of Editas Medicine, Inc. (the “Company”), upon recommendation of the Board’s Nominating and Corporate Governance Committee, increased the size of the Board by one member and appointed Elliot Levy, M.D. as an independent director, effective immediately. Dr. Levy has been designated as a class I director to serve in accordance with the Company’s By-Laws. Dr. Levy was also appointed to the Audit Committee and the Science and Technology Committee of the Board.
Dr. Levy is currently a Venture Partner at 5AM Venture Management, LLC, a venture capital firm, which he joined in April 2022. He was previously employed at Amgen, Inc., a public biopharmaceutical company, where he served as Senior Vice President of Research and Development from June 2020 to May 2021 and as Senior Vice President of Global Development from September 2014 to June 2020. He currently serves on the boards of directors of Omega Therapeutics, Inc. and NuCana plc, both public biotechnology firms, and is a co-founder and former chief executive officer of Intrepid Alliance, an industry-led non-profit consortium whose objective is to accelerate the development of small molecule therapeutics for potential viral pandemic agents. Dr. Levy received his B.A. in History from Yale College and an M.D. from the Yale School of Medicine.
In accordance with the Company’s director compensation policy, Dr. Levy will receive (i) annual cash compensation of $40,000 as a member of the Board, $7,500 for service on the Audit Committee, and $5,000 for service on the Science and Technology Committee, and reimbursement for reasonable travel and other expenses incurred in connection with attending meetings of the Board and committees thereof and (ii) an option to purchase 50,000 shares of the Company’s common stock, with an exercise price equal to the closing price of the Company’s common stock on the Nasdaq Global Select Market on the date of appointment, which option will vest as to one-third of the shares of common stock underlying the option in three equal installments on each anniversary of the date of grant. Dr. Levy has entered into a standard form of indemnification agreement with the Company, in the form that is filed as Exhibit 10.28 to the Company’s Registration Statement on Form S-1 (File No. 333-208856), filed with the Securities and Exchange Commission on January 4, 2016.
There is no arrangement or understanding between Dr. Levy and any other person pursuant to which Dr. Levy was selected as a director. In addition, Dr. Levy is not a party to any transaction, or series of transactions, required to be disclosed pursuant to Item 404(a) of Regulation S-K.
