secwatch.observer — SEC 8-K summary
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Issuer:     Celldex Therapeutics, Inc. (CLDX)
CIK:        0000744218
Form:       8-K
Filed at:   2021-07-01T23:59:59+00:00
Accession:  0001104659-21-088220
Event type: other
Sentiment:  neutral
Materiality: 0.25
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Celldex enters amended employment agreements with 10 executives, new salaries and bonus targets
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- CEO Marucci base salary $680,908 (60% bonus); CFO Martin $412,820 (40% bonus).
- Initial term through Dec 31, 2021, auto-renew yearly unless 90-day notice.
- Severance: 200% base salary lump sum on termination w/o cause or for good reason, plus 18 months COBRA.
- 25% of unvested equity vests immediately on such termination.
- Agreements standardize language; prior agreements restated effective July 1, 2021.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/744218/000110465921088220/0001104659-21-088220-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/744218/000110465921088220/tm2120284d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-21-088220

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