secwatch.observer — SEC 8-K summary
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Issuer:     ASSEMBLY BIOSCIENCES, INC. (ASMB)
CIK:        0001426800
Form:       8-K
Filed at:   2022-12-12T23:59:59+00:00
Accession:  0000950170-22-026384
Event type: leadership
Sentiment:  neutral
Materiality: 0.50
Item codes: 5.02, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Assembly Bio finalizes CEO succession; Okazaki takes role Jan 1, 2023; board cuts quorum
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- Jason Okazaki succeeds John McHutchison as CEO effective Jan 1, 2023; base salary $600K, target bonus 60%.
- Severance: 18 months salary + 1.5x target bonus on change-of-control termination; 12 months salary + prorated bonus on non-CIC.
- Board reduced stockholder meeting quorum from majority to one-third after quorum difficulties in 2021 and 2022.
- Equity award for Okazaki expected in March 2023 as part of annual grants; terms not yet determined.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1426800/000095017022026384/0000950170-22-026384-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1426800/000095017022026384/asmb-20221206.htm
  HTML page:      https://secwatch.observer/filing/0000950170-22-026384

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer