Aclaris finalizes CEO and CFO employment agreements; Manion $600k base, Balthaser $444k base

Aclaris Therapeutics, Inc.

Douglas Manion appointed CEO effective Jan 1, 2023 with annual base salary of $600,000 and target bonus of 55% of base.
Kevin Balthaser appointed CFO effective Jan 1, 2023 with annual base salary of $444,000 and target bonus of 40% of base.
Both employment agreements have initial two-year term with automatic renewal; severance includes 12-month base salary and COBRA in non-change-of-control terminations.
Under change of control termination, Manion receives additional 6 months salary and 150% target bonus; Balthaser receives additional target bonus; both get full equity acceleration.

item 5.02

Executive movements

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Appointed

Douglas Manion

Chief Executive Officer

ACRS · Aclaris Therapeutics, Inc.

Effective: 2023-01-01
Filed: January 6, 2023, 6:59 PM ET

appointed Douglas Manion as the Company’s Chief Executive Officer, effective as of January 1, 2023.

Appointed

Kevin Balthaser

Chief Financial Officer

ACRS · Aclaris Therapeutics, Inc.

Effective: 2023-01-01
Filed: January 6, 2023, 6:59 PM ET

appointed Kevin Balthaser as the Company’s Chief Financial Officer, effective as of January 1, 2023.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Douglas Manion was appointed as Chief Executive Officer at Aclaris Therapeutics, Inc..

Action: appointed
Role: Chief Executive Officer

Exact text from the filing

appointed Douglas Manion as the Company’s Chief Executive Officer, effective as of January 1, 2023.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Kevin Balthaser was appointed as Chief Financial Officer at Aclaris Therapeutics, Inc..

Action: appointed
Role: Chief Financial Officer

Exact text from the filing

appointed Kevin Balthaser as the Company’s Chief Financial Officer, effective as of January 1, 2023.

View on SEC.gov

Aclaris Therapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-23-001858

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