secwatch / observer
8-K filed November 18, 2024, 6:59 PM ET CIK 0001556263
other material confidence high sentiment negative materiality 1.00

Syros Pharmaceuticals, Inc.: restructuring charge — Syros terminates QIAGEN pact, defaults on $43.7M loan, cuts 94% of staff, replaces CEO

Syros Pharmaceuticals, Inc.

item 1.02item 2.04item 2.05item 5.02

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

Timothy Tyson

Director
Syros Pharmaceuticals, Inc.
Effective
2024-11-15
Filed
November 18, 2024, 6:59 PM ET
On November 15, 2024, Srinivas Akkaraju, M.D., Ph.D., Deborah Dunsire, M.D., S. Gail Eckhardt, M.D., Timonthy Tyson, and Richard Young, Ph.D., each notified the Board of Directors of such director’s resignation from the Board of Directors and all committees or subcommittees thereof, effective immediately.
Departed

David Roth

Chief Medical Officer
Syros Pharmaceuticals, Inc.
Effective
2024-11-22
Filed
November 18, 2024, 6:59 PM ET
On November 14, 2024, in connection with the reduction in workforce, the Company notified each of Conley Chee, the Company’s President and Chief Executive Officer, Jason Haas, the Company’s Chief Financial Officer, and Dr. David Roth, the Company’s Chief Medical Officer, that the employment of such officers with the Company will terminate without cause, effective as of November 22, 2024.
Departed

S. Gail Eckhardt

Director
Syros Pharmaceuticals, Inc.
Effective
2024-11-15
Filed
November 18, 2024, 6:59 PM ET
On November 15, 2024, Srinivas Akkaraju, M.D., Ph.D., Deborah Dunsire, M.D., S. Gail Eckhardt, M.D., Timonthy Tyson, and Richard Young, Ph.D., each notified the Board of Directors of such director’s resignation from the Board of Directors and all committees or subcommittees thereof, effective immediately.
Departed

Conley Chee

Director
Syros Pharmaceuticals, Inc.
Effective
2024-11-22
Filed
November 18, 2024, 6:59 PM ET
In addition, Mr. Chee resigned from the Board of Directors and all committees or subcommittees thereof, effective upon his termination of employment on November 22, 2024.
Departed

Deborah Dunsire

Director
Syros Pharmaceuticals, Inc.
Effective
2024-11-15
Filed
November 18, 2024, 6:59 PM ET
On November 15, 2024, Srinivas Akkaraju, M.D., Ph.D., Deborah Dunsire, M.D., S. Gail Eckhardt, M.D., Timonthy Tyson, and Richard Young, Ph.D., each notified the Board of Directors of such director’s resignation from the Board of Directors and all committees or subcommittees thereof, effective immediately.
Departed

Conley Chee

President and Chief Executive Officer
Syros Pharmaceuticals, Inc.
Effective
2024-11-22
Successor
Gerald Quirk
Filed
November 18, 2024, 6:59 PM ET
On November 14, 2024, in connection with the reduction in workforce, the Company notified each of Conley Chee, the Company’s President and Chief Executive Officer, Jason Haas, the Company’s Chief Financial Officer, and Dr. David Roth, the Company’s Chief Medical Officer, that the employment of such officers with the Company will terminate without cause, effective as of November 22, 2024.
Departed

Srinivas Akkaraju

Director
Syros Pharmaceuticals, Inc.
Effective
2024-11-15
Filed
November 18, 2024, 6:59 PM ET
On November 15, 2024, Srinivas Akkaraju, M.D., Ph.D., Deborah Dunsire, M.D., S. Gail Eckhardt, M.D., Timonthy Tyson, and Richard Young, Ph.D., each notified the Board of Directors of such director’s resignation from the Board of Directors and all committees or subcommittees thereof, effective immediately.
Departed

Andrew M. Oh

Director
Syros Pharmaceuticals, Inc.
Effective
2024-11-12
Filed
November 18, 2024, 6:59 PM ET
On November 12, 2024, Andrew M. Oh notified the Board of Directors of the Company of his resignation from the Board of Directors and all committees or subcommittees thereof, effective immediately.
Departed

Jason Haas

Chief Financial Officer
Syros Pharmaceuticals, Inc.
Effective
2024-11-22
Successor
Gerald Quirk
Filed
November 18, 2024, 6:59 PM ET
On November 14, 2024, in connection with the reduction in workforce, the Company notified each of Conley Chee, the Company’s President and Chief Executive Officer, Jason Haas, the Company’s Chief Financial Officer, and Dr. David Roth, the Company’s Chief Medical Officer, that the employment of such officers with the Company will terminate without cause, effective as of November 22, 2024.
Appointed

Gerald Quirk

President and Chief Executive Officer
Syros Pharmaceuticals, Inc.
Effective
2024-11-22
Filed
November 18, 2024, 6:59 PM ET
On November 15, 2024, the Board of Directors appointed Gerald Quirk, Esq., currently the Company’s Chief Legal & Compliance Officer and Chief Business Officer, to serve as the Company’s President and Chief Executive Officer effective as of November 22, 2024.
Departed

Richard Young

Director
Syros Pharmaceuticals, Inc.
Effective
2024-11-15
Filed
November 18, 2024, 6:59 PM ET
On November 15, 2024, Srinivas Akkaraju, M.D., Ph.D., Deborah Dunsire, M.D., S. Gail Eckhardt, M.D., Timonthy Tyson, and Richard Young, Ph.D., each notified the Board of Directors of such director’s resignation from the Board of Directors and all committees or subcommittees thereof, effective immediately.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 1.0

Timothy Tyson resigned as Director at Syros Pharmaceuticals, Inc..

Action
resigned
Role
Director
Exact text from the filing
On November 15, 2024, Srinivas Akkaraju, M.D., Ph.D., Deborah Dunsire, M.D., S. Gail Eckhardt, M.D., Timonthy Tyson, and Richard Young, Ph.D., each notified the Board of Directors of such director’s resignation from the Board of Directors and all committees or subcommittees thereof, effective immediately.
View on SEC.gov
Executive change SEC 8-K Item 5.02 confidence 1.0

David Roth was terminated as Chief Medical Officer at Syros Pharmaceuticals, Inc..

Action
terminated
Role
Chief Medical Officer
Exact text from the filing
On November 14, 2024, in connection with the reduction in workforce, the Company notified each of Conley Chee, the Company’s President and Chief Executive Officer, Jason Haas, the Company’s Chief Financial Officer, and Dr. David Roth, the Company’s Chief Medical Officer, that the employment of such officers with the Company will terminate without cause, effective as of November 22, 2024.
View on SEC.gov
Executive change SEC 8-K Item 5.02 confidence 1.0

S. Gail Eckhardt resigned as Director at Syros Pharmaceuticals, Inc..

Action
resigned
Role
Director
Exact text from the filing
On November 15, 2024, Srinivas Akkaraju, M.D., Ph.D., Deborah Dunsire, M.D., S. Gail Eckhardt, M.D., Timonthy Tyson, and Richard Young, Ph.D., each notified the Board of Directors of such director’s resignation from the Board of Directors and all committees or subcommittees thereof, effective immediately.
View on SEC.gov
Executive change SEC 8-K Item 5.02 confidence 1.0

Conley Chee resigned as Director at Syros Pharmaceuticals, Inc..

Action
resigned
Role
Director
Exact text from the filing
In addition, Mr. Chee resigned from the Board of Directors and all committees or subcommittees thereof, effective upon his termination of employment on November 22, 2024.
View on SEC.gov
Executive change SEC 8-K Item 5.02 confidence 1.0

Deborah Dunsire resigned as Director at Syros Pharmaceuticals, Inc..

Action
resigned
Role
Director
Exact text from the filing
On November 15, 2024, Srinivas Akkaraju, M.D., Ph.D., Deborah Dunsire, M.D., S. Gail Eckhardt, M.D., Timonthy Tyson, and Richard Young, Ph.D., each notified the Board of Directors of such director’s resignation from the Board of Directors and all committees or subcommittees thereof, effective immediately.
View on SEC.gov
Executive change SEC 8-K Item 5.02 confidence 1.0

Conley Chee was terminated as President and Chief Executive Officer at Syros Pharmaceuticals, Inc..

Action
terminated
Role
President and Chief Executive Officer
Exact text from the filing
On November 14, 2024, in connection with the reduction in workforce, the Company notified each of Conley Chee, the Company’s President and Chief Executive Officer, Jason Haas, the Company’s Chief Financial Officer, and Dr. David Roth, the Company’s Chief Medical Officer, that the employment of such officers with the Company will terminate without cause, effective as of November 22, 2024.
View on SEC.gov
Executive change SEC 8-K Item 5.02 confidence 1.0

Srinivas Akkaraju resigned as Director at Syros Pharmaceuticals, Inc..

Action
resigned
Role
Director
Exact text from the filing
On November 15, 2024, Srinivas Akkaraju, M.D., Ph.D., Deborah Dunsire, M.D., S. Gail Eckhardt, M.D., Timonthy Tyson, and Richard Young, Ph.D., each notified the Board of Directors of such director’s resignation from the Board of Directors and all committees or subcommittees thereof, effective immediately.
View on SEC.gov
Executive change SEC 8-K Item 5.02 confidence 1.0

Andrew M. Oh resigned as Director at Syros Pharmaceuticals, Inc..

Action
resigned
Role
Director
Exact text from the filing
On November 12, 2024, Andrew M. Oh notified the Board of Directors of the Company of his resignation from the Board of Directors and all committees or subcommittees thereof, effective immediately.
View on SEC.gov
Executive change SEC 8-K Item 5.02 confidence 1.0

Jason Haas was terminated as Chief Financial Officer at Syros Pharmaceuticals, Inc..

Action
terminated
Role
Chief Financial Officer
Exact text from the filing
On November 14, 2024, in connection with the reduction in workforce, the Company notified each of Conley Chee, the Company’s President and Chief Executive Officer, Jason Haas, the Company’s Chief Financial Officer, and Dr. David Roth, the Company’s Chief Medical Officer, that the employment of such officers with the Company will terminate without cause, effective as of November 22, 2024.
View on SEC.gov
Executive change SEC 8-K Item 5.02 confidence 1.0

Gerald Quirk was appointed as President and Chief Executive Officer at Syros Pharmaceuticals, Inc..

Action
appointed
Role
President and Chief Executive Officer
Exact text from the filing
On November 15, 2024, the Board of Directors appointed Gerald Quirk, Esq., currently the Company’s Chief Legal & Compliance Officer and Chief Business Officer, to serve as the Company’s President and Chief Executive Officer effective as of November 22, 2024.
View on SEC.gov
Executive change SEC 8-K Item 5.02 confidence 1.0

Richard Young resigned as Director at Syros Pharmaceuticals, Inc..

Action
resigned
Role
Director
Exact text from the filing
On November 15, 2024, Srinivas Akkaraju, M.D., Ph.D., Deborah Dunsire, M.D., S. Gail Eckhardt, M.D., Timonthy Tyson, and Richard Young, Ph.D., each notified the Board of Directors of such director’s resignation from the Board of Directors and all committees or subcommittees thereof, effective immediately.
View on SEC.gov
Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

Syros Pharmaceuticals, Inc. announced a restructuring (approximately 94%).

Type
restructuring
Headcount
approximately 94%
Exact text from the filing
On November 12, 2024, the Company’s authorized officers, with the endorsement of the Company’s Board of Directors, committed to implementing a reduction in workforce by approximately 94%.
View on SEC.gov

6 restructurings & charges filed in the last 30 days. Browse all restructurings & charges →

Source: SEC EDGAR
accession 0001193125-24-260421
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