Emergent BioSolutions eliminates Chief Strategy role; 2022 bonuses slashed below target

Emergent BioSolutions Inc.

Atul Saran departed as Chief Strategy Officer on March 17, 2023; receives severance per plan and RSU acceleration.
2022 NEO bonuses reduced due to below-target performance: CEO at 25%, others at 50% of target.
Actual annual incentives for NEOs ranged from 25% to 58% of target.
2023 base salaries set: CEO $1,032,500 (120% bonus target); CFO $615,000; COO/GC $585,000 each.
2023 equity grants limited by share availability; PSUs tied to cumulative revenue and Adjusted EBITDA Margin over 2023-2025.

item 5.02 item 7.01 item 9.01

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Departed

Atul Saran

Chief Strategy and Development Officer

EBS · Emergent BioSolutions Inc.

Effective: 2023-03-17
Filed: March 23, 2023, 7:59 PM ET

On March 17, 2023, in connection with the elimination of his position as Chief Strategy and Development Officer, the Company entered into a Separation Agreement (the “Separation Agreement”) with Atul Saran.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Atul Saran departed as Chief Strategy and Development Officer at Emergent BioSolutions Inc..

Action: departed
Role: Chief Strategy and Development Officer

Exact text from the filing

On March 17, 2023, in connection with the elimination of his position as Chief Strategy and Development Officer, the Company entered into a Separation Agreement (the “Separation Agreement”) with Atul Saran.

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Emergent BioSolutions Inc. filing history →

Source: SEC EDGAR

accession 0001367644-23-000075

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