secwatch.observer — SEC 8-K summary
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Issuer:     Vir Biotechnology, Inc. (VIR)
CIK:        0001706431
Form:       8-K
Filed at:   2023-02-16T23:59:59+00:00
Accession:  0001193125-23-040755
Event type: leadership
Sentiment:  neutral
Materiality: 0.60
Item codes: 5.02
LLM model:  deepseek-v4-flash:cloud@v2

Vir Biotechnology names Sung Lee CFO, replacing Howard Horn effective March 27
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- Sung Lee appointed EVP and CFO effective March 27, 2023; Howard Horn steps down as CFO but remains EVP through April 28.
- Base salary $525K, target bonus 45%, sign-on cash bonus $500K payable on 1-year anniversary, relocation expenses up to ~$460K.
- Equity awards: option for 133K shares and RSUs for 66.5K shares, each vesting over 4 years.
- Lee previously served as CFO at MorphoSys AG and Sangamo; prior roles at Gilead Sciences.
- Severance provides 12 months pay/benefits + full equity acceleration within 12 months post-change-in-control; 9 months pay outside CIC.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1706431/000119312523040755/0001193125-23-040755-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1706431/000119312523040755/d382006d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-040755

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