Lexicon appoints Michael Exton as CEO effective July 8, 2024; Jeffrey Wade promoted to President and COO

LEXICON PHARMACEUTICALS, INC.

New CEO Michael Exton, Ph.D., former Novartis cardiometabolism head, to lead Lexicon starting July 8, 2024.
Exton receives $636k base salary, 70% bonus target, and stock option for 1,675,000 shares vesting over 4 years.
Jeffrey Wade promoted from President/CFO to President/COO; base salary increased to $585k, bonus target to 60%.
Wade granted stock option for 307,000 shares vesting over 4 years; also remains principal financial officer.
Severance for Exton: 12 months salary on termination w/o cause; additional one-time bonus target on change of control.

item 5.02 item 9.01

Executive movements

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Appointed

Michael Exton

Chief Executive Officer

LXRX · LEXICON PHARMACEUTICALS, INC.

Effective: 2024-07-08
Filed: July 8, 2024, 7:59 PM ET

Michael Exton, Ph.D. was appointed as our chief executive officer

Appointed

Michael Exton

Director

LXRX · LEXICON PHARMACEUTICALS, INC.

Effective: 2024-07-08
Filed: July 8, 2024, 7:59 PM ET

elected to serve as a member of our board of directors

Key facts

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Executive change SEC 8-K Item 5.02 confidence 1.0

Michael Exton was appointed as Chief Executive Officer at LEXICON PHARMACEUTICALS, INC..

Action: appointed
Role: Chief Executive Officer

Exact text from the filing

Michael Exton, Ph.D. was appointed as our chief executive officer

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 1.0

Michael Exton was elected as Director at LEXICON PHARMACEUTICALS, INC..

Action: elected
Role: Director

Exact text from the filing

elected to serve as a member of our board of directors

View on SEC.gov

LEXICON PHARMACEUTICALS, INC. filing history →

Source: SEC EDGAR

accession 0001062822-24-000036

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