President and COO Shehnaaz Suliman departs Alector; receives $375K severance, stock option acceleration

Alector, Inc.

Last day of employment December 31, 2021; separation agreement includes $375,000 severance payment and $337,500 bonus.
Company will pay COBRA premiums for 9 months through September 30, 2022.
Incentive stock options that would vest in 9 months after separation become fully vested; 100,000 PSUs remain unvested and canceled.
Dr. Suliman had 32,981 ISO, 706,232 NQSO, and 100,000 PSUs originally; as of separation 17,412 ISO and 451,377 NQSO vested.
She has 3 months post-separation to exercise vested options; unvested options and PSUs forfeited.

item 5.02 item 9.01

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Departed

Shehnaaz Suliman

President and Chief Operating Officer

ALEC · Alector, Inc.

Effective: 2021-12-31
Filed: January 3, 2022, 6:59 PM ET

On December 31, 2021, Alector, LLC, a subsidiary of Alector, Inc. (collectively, the “Company”) entered into an agreement (the “Separation Agreement”) with Shehnaaz Suliman, the Company’s President and Chief Operating Officer, completing the terms of Dr. Suliman’s previously announced voluntary separation from the Company.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Shehnaaz Suliman resigned as President and Chief Operating Officer at Alector, Inc..

Action: resigned
Role: President and Chief Operating Officer

Exact text from the filing

On December 31, 2021, Alector, LLC, a subsidiary of Alector, Inc. (collectively, the “Company”) entered into an agreement (the “Separation Agreement”) with Shehnaaz Suliman, the Company’s President and Chief Operating Officer, completing the terms of Dr. Suliman’s previously announced voluntary separation from the Company.

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Alector, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-22-000619

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