ProKidney Corp. finalizes separation agreement with former COO Deepak Jain including $495K severance

PROKIDNEY CORP.

Severance pay of $495,000 (12 months base salary) plus eligibility for 2023 bonus up to 45% of base salary.
Company will pay 100% of COBRA/Medicare premiums through November 30, 2024.
Legal fee reimbursement up to $20,000 for negotiation of separation agreement.
Vested stock options exercisable for 90 days after effective date; all unvested awards forfeited.
Vested Class B shares: 783,969 convertible to Class A; 406,087 remain under lockup until July 11, 2026 or regulatory event.

item 5.02 item 9.01

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Departed

Deepak Jain

Chief Operating Officer

PROK · PROKIDNEY CORP.

Effective: 2024-03-13
Filed: March 18, 2024, 7:59 PM ET

On March 13, 2024 (the “Effective Date”), the Company entered into a Separation Agreement (the “Separation Agreement”) with Dr. Jain.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.85

Deepak Jain resigned as Chief Operating Officer at PROKIDNEY CORP..

Action: resigned
Role: Chief Operating Officer

Exact text from the filing

On March 13, 2024 (the “Effective Date”), the Company entered into a Separation Agreement (the “Separation Agreement”) with Dr. Jain.

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PROKIDNEY CORP. filing history →

Source: SEC EDGAR

accession 0000950170-24-032827

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