XOMA CEO James R. Neal to retire by Dec 2022; appointed Chairman with new compensation package
XOMA Royalty Corp
CEO James R. Neal notified retirement effective by Dec 31, 2022 or upon hiring successor; appointed Chairman immediately.
New employment agreement provides annual base salary of $725,000 effective immediately and 60% bonus starting Jan 1, 2022.
Grant of stock option for 60,000 shares at closing price on grant date under Amended 2010 Long Term Incentive Plan.
If terminated without cause or resigns for good reason prior to Termination Date: continuity incentive of $1,160,000, increased if before Sep 30, 2022.
James R. Neal, Chief Executive Officer of XOMA Corporation (the “Company”), notified the Company of his decision to retire as the Company’s Chief Executive Officer, effective at the earlier of (i) December 31, 2022 or (ii) the date that the Company hires a new Chief Executive Officer (the “Termination Date”).
On December 15, 2021, the Board appointed Mr. Neal to the position of Chairman of the Board, effective immediately.
Key facts
Extracted from this filing and checked against the source text.
Executive changeSEC 8-K Item 5.02confidence 0.95
James R. Neal retired as Chief Executive Officer at XOMA Royalty Corp.
Action
retired
Role
Chief Executive Officer
Exact text from the filing
James R. Neal, Chief Executive Officer of XOMA Corporation (the “Company”), notified the Company of his decision to retire as the Company’s Chief Executive Officer, effective at the earlier of (i) December 31, 2022 or (ii) the date that the Company hires a new Chief Executive Officer (the “Termination Date”).
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