secwatch.observer — SEC 8-K summary
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Issuer:     Vir Biotechnology, Inc. (VIR)
CIK:        0001706431
Form:       8-K
Filed at:   2023-01-25T23:59:59+00:00
Accession:  0001193125-23-014834
Event type: leadership
Sentiment:  neutral
Materiality: 0.60
Item codes: 5.02
LLM model:  deepseek-v4-flash:cloud@v2

Vir Biotechnology appoints Marianne De Backer as CEO effective April 3, 2023; George Scangos retires
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- George Scangos notified Board of retirement as CEO and President, effective April 3, 2023.
- Marianne De Backer (ex-Bayer EVP) appointed CEO and Class II director effective same date.
- De Backer receives $900K base salary, 80% target bonus, $5M sign-on bonus in two installments.
- Equity awards valued up to $45M (1,152,904 stock options + 576,452 RSUs) vesting over 4 years.
- Relocation package: $21K/month for up to 18 months plus final moving expenses to San Francisco.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1706431/000119312523014834/0001193125-23-014834-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1706431/000119312523014834/d306400d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-014834

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