---
schema_version: "secwatch.filing_event.v1"
accession: "0001062822-24-000036"
form_type: "8-K"
ticker: "LXRX"
cik: "0001062822"
company_name: "LEXICON PHARMACEUTICALS, INC."
filed_at: "2024-07-08T23:59:59+00:00"
generated_at: "2026-05-31T22:47:42.869592+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001062822-24-000036
- form_type: 8-K
- ticker: LXRX
- cik: 0001062822
- company_name: LEXICON PHARMACEUTICALS, INC.
- filed_at: 2024-07-08T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1062822/000106282224000036/0001062822-24-000036-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1062822/000106282224000036/lxrx-20240703.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001062822-24-000036
- JSON: https://secwatch.observer/filing/0001062822-24-000036.json
- Plain text: https://secwatch.observer/filing/0001062822-24-000036.txt

## Key facts
- Executive change
  Michael Exton was appointed as Chief Executive Officer at LEXICON PHARMACEUTICALS, INC..
  - Action: appointed
  - Role: Chief Executive Officer
  source text: Michael Exton, Ph.D. was appointed as our chief executive officer
  evidence_url: https://www.sec.gov/Archives/edgar/data/1062822/000106282224000036/0001062822-24-000036-index.htm
- Executive change
  Michael Exton was elected as Director at LEXICON PHARMACEUTICALS, INC..
  - Action: elected
  - Role: Director
  source text: elected to serve as a member of our board of directors
  evidence_url: https://www.sec.gov/Archives/edgar/data/1062822/000106282224000036/0001062822-24-000036-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.