secwatch.observer — SEC 8-K summary
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Issuer:     Damora Therapeutics, Inc. (DMRA)
CIK:        0001800315
Form:       8-K
Filed at:   2021-07-06T23:59:59+00:00
Accession:  0001564590-21-035806
Event type: other_material
Sentiment:  neutral
Materiality: 0.40
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Galecto adopts executive Separation Benefits Plan with tiered severance for C-Level officers
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- Plan covers CEO, CFO, COO, CMO, General Counsel and other designated employees.
- Non-Sale termination: CEO receives 15 months base salary; other C-Level get 12 months; prorated bonus and equity vesting during severance period.
- Sale Event termination: CEO gets 18 months lump sum; other C-Level get 12 months lump sum; bonus of 150%/100% of target; 100% equity vesting.
- Plan supersedes all prior severance agreements and requires a release of claims, non-disparagement, and cooperation as conditions.
- Board may amend or terminate plan with 18 months' notice before a Sale Event; post-Sale Event amendments restricted for 24 months.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1800315/000156459021035806/0001564590-21-035806-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1800315/000156459021035806/glto-8k_20210706.htm
  HTML page:      https://secwatch.observer/filing/0001564590-21-035806

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