CEO Collier retires, gets $207K bonus; interim CEO McElhaugh gets $515K salary + $127.5K stipend

Arbutus Biopharma Corp

William Collier retired as CEO effective Dec 31, 2023; receives prorated 50% target bonus of $207,058.
Collier enters consulting agreement for 3 months at $400/hour; RSUs and stock options continue to vest during term.
Michael McElhaugh appointed Interim President & CEO; base salary increased to $515,000, target bonus 45%, additional yearly stipend of $127,500.
McElhaugh will be nominated for election to the Board of Directors.

item 5.02 item 9.01

Executive movements

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Appointed (interim)

Michael J. McElhaugh

Interim President and Chief Executive Officer

ABUS · Arbutus Biopharma Corp

Effective: 2024-01-01
Filed: January 4, 2024, 6:59 PM ET

On January 1, 2024 (the “Effective Date”), Michael J. McElhaugh, the Company’s Interim President and Chief Executive Officer, and Arbutus entered into that certain Fourth Amendment to Executive Employment Agreement

Departed

William H. Collier

Chief Executive Officer

ABUS · Arbutus Biopharma Corp

Effective: 2023-12-31
Successor: Michael J. McElhaugh
Filed: January 4, 2024, 6:59 PM ET

William H. Collier retired as Chief Executive Officer of Arbutus Biopharma Corporation (the “Company”), effective December 31, 2023.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.85

Michael J. McElhaugh was appointed as Interim President and Chief Executive Officer at Arbutus Biopharma Corp.

Action: appointed
Role: Interim President and Chief Executive Officer

Exact text from the filing

On January 1, 2024 (the “Effective Date”), Michael J. McElhaugh, the Company’s Interim President and Chief Executive Officer, and Arbutus entered into that certain Fourth Amendment to Executive Employment Agreement

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

William H. Collier retired as Chief Executive Officer at Arbutus Biopharma Corp.

Action: retired
Role: Chief Executive Officer

Exact text from the filing

William H. Collier retired as Chief Executive Officer of Arbutus Biopharma Corporation (the “Company”), effective December 31, 2023.

View on SEC.gov

Arbutus Biopharma Corp filing history →

Source: SEC EDGAR

accession 0001447028-24-000006

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