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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 April 28, 2021, upon the recommendation of the Nominating and Corporate Governance Committee of the Board of Directors (the “Board”) of Praxis Precision Medicines, Inc. (the “Company”), the Board elected Merit Cudkowicz, M.D., to join the Board, effective April 28, 2021 (the “Effective Date”). Dr. Cudkowicz will serve as a Class II director until the 2022 annual meeting of stockholders or until her successor has been duly elected and qualified. The Board determined that Dr. Cudkowicz is independent under the listing standards of Nasdaq. Dr. Cudkowicz was also appointed to serve as chair of the Science and Technology Committee of the Board and as a member of the Compensation Committee of the Board.
In connection with her election to the Board, Dr. Cudkowicz will receive cash and an equity award for her Board service in accordance with the Company’s Non-Employee Director Compensation Policy. Dr. Cudkowicz is not a party to any transaction with the Company that would require disclosure under Item 404(a) of Regulation S-K, and there are no arrangements or understandings between Dr. Cudkowicz and any other persons pursuant to which she was selected as a director. In addition, Dr. Cudkowicz has entered into an indemnification agreement with the Company consistent with the form of indemnification agreement entered into between the Company and its existing non-employee directors.
On April 29, 2021, the Company issued a press release announcing Dr. Cudkowicz’s election to the Board and has attached a copy of such press release as Exhibit 99.1 hereto.
|Item 9.01.|| |
Financial Statements and Exhibits.
|99.1||Press Release, dated April 29, 2021|
|104||Cover page from this Current Report on Form 8-K, formatted in Inline XBRL|
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|PRAXIS PRECISION MEDICINES, INC.|
|Date: April 29, 2021||By:|
|Chief Executive Officer|