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 Officer. |
On May 27, 2021, Magenta Therapeutics, Inc. (the “Company”) announced that John Davis, its Chief Medical Officer and Head of Research and Development, intends to resign from his position for family reasons. Dr. Davis will remain with the Company as Chief Medical Officer and Head of Research and Development through a transition period that is expected to end no later than July 30, 2021. Following the transition period, Dr. Davis will become a member of Magenta’s Scientific Advisory Board. Dr. Davis’ departure was not related to any disagreements with the Company on any matter relating to its operations, policies, practices or any issues regarding financial disclosures, accounting or legal matters. The Company has commenced a formal search for a new chief medical officer.
Dr. Davis played an important role in helping to build the Company’s experienced Research and Development team that is strongly positioned to further advance the Company’s clinical-stage pipeline. The R&D Committee of the Company’s Board of Directors and additional external clinical development advisors will provide guidance and oversight during Dr. Davis’ transition period to further support the Company’s management in their clinical development efforts. The R&D Committee is comprised of Michael W. Bonney, Dr. David Scadden, Dr. Tom Daniel and Alison Lawton.
In connection with the transition, the Company expects to enter into an agreement with Dr. Davis which, among other things, continues his current compensation and benefits during the transition period. The agreement is expected to also include certain standard terms and conditions, including a release of claims, continued compliance with his confidentiality obligations, non-competition and non-solicitation restrictions, and certain other restrictive covenants.
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SIGNATURES
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.
| MAGENTA THERAPEUTICS, INC. | ||
| Date: | May 27, 2021 | |
| By: | /s/ Jason Gardner | |
| Title: | President and Chief Executive Officer | |
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