Biostage CEO David Green made permanent; new agreement includes $300k salary, stock options

Harvard Apparatus Regenerative Technology, Inc.

Interim tag removed; David Green named permanent CEO effective January 11, 2023.
Annual base salary set at $300,000; cash incentive up to 100% of base salary.
Initial stock option grants: $200k Black-Scholes value (monthly vesting over 12 months); fully vested option for $200k; LTI grant of 6% of outstanding shares (36-month vesting).
Severance: $300,000 cash plus $200k Black-Scholes option if terminated without cause or for good reason.

item 3.02 item 5.02 item 9.01

Executive movements

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Role change

David Green

Chief Executive Officer

HRGN · Harvard Apparatus Regenerative Technology, Inc.

Effective: 2023-01-11
Filed: January 12, 2023, 6:59 PM ET

Effective as of January 11, 2023, Biostage, Inc. (the Company) entered into an Amended and Restated Employment Agreement (the Amended Agreement) with David Green, the Chief Executive Officer of the Company, to remove the Interim designation from his Chief Executive Officer title effective immediately

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

David Green changed role as Chief Executive Officer at Harvard Apparatus Regenerative Technology, Inc..

Action: removed Interim designation
Role: Chief Executive Officer

Exact text from the filing

Effective as of January 11, 2023, Biostage, Inc. (the Company) entered into an Amended and Restated Employment Agreement (the Amended Agreement) with David Green, the Chief Executive Officer of the Company, to remove the Interim designation from his Chief Executive Officer title effective immediately

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Source: SEC EDGAR

accession 0001563665-23-000004

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