UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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 August 10, 2021, in connection with his departure from Gilead Sciences, Inc., Michael Quigley, Ph.D., resigned as a member of Arcus Biosciences, Inc.’s Board of Directors, effective upon the appointment of Gilead’s new director designee pursuant to the Investor Rights Agreement dated May 27, 2020 by and between Arcus and Gilead. On August 10, 2021, the Board appointed Linda Higgins, Senior Vice President of Research, External Innovation at Gilead, as a Class III director to fill the vacancy left by Dr. Quigley’s resignation. Dr. Higgins joined Gilead in 2010 and in her first nine years led Biology, leading a significant expansion of the therapeutic area scope and capabilities of the department. The Investor Rights Agreement was entered into in connection with the previously announced Option, License and Collaboration Agreement entered into between Arcus and Gilead on May 27, 2020, and Common Stock Purchase Agreement entered into between Arcus and Gilead on May 27, 2020, as amended and restated on January 31, 2021.
Dr. Higgins will not receive any compensation for her service as a member of Arcus’s Board. Arcus expects to enter into its standard form of indemnification agreement with Dr. Higgins.
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.
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ARCUS BIOSCIENCES, INC. |
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Date: August 11, 2021 |
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By: |
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/s/ Terry Rosen, Ph. D. |
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Terry Rosen, Ph.D. |
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Chief Executive Officer
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