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CCXI > SEC Filings for CCXI > Form 8-K on 21-Feb-2014All Recent SEC Filings

Show all filings for CHEMOCENTRYX, INC.

Form 8-K for CHEMOCENTRYX, INC.


21-Feb-2014

Change in Directors or Principal Officers


Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On February 19, 2014, the Compensation Committee (the "Committee") of the Board of Directors (the "Board") of ChemoCentryx, Inc. (the "Company") established the base salaries to be paid to the executive officers listed below (the "Named Executive Officers"), effective January 1, 2014 and also approved cash bonus payments for the 2013 fiscal year to be paid to each of the Named Executive Officers and set target cash bonuses for the 2014 fiscal year for each of the Named Executive Officers. In addition, on February 19, 2014, the Compensation Committee of the Board of Directors (the "Committee") of ChemoCentryx, Inc. (the "Company") approved and awarded stock options to the executive officers listed below (the "Named Executive Officers") under the Company's 2012 Equity Incentive Award Plan. The exercise price per share of such stock options is $7.10, the closing price per share of the Company's common stock on February 19, 2014. Twenty-five percent of the total number of shares of common stock subject to each Named Executive Officer's option will vest on January 1, 2015, and 1/48th of the total number of shares of common stock subject to such option will vest monthly thereafter, subject to such Named Executive Officer's continued employment or service relationship with the Company on each such vesting date.

The new base salaries, 2014 target cash bonus payments, actual 2013 cash bonus payments and stock option grants are as follows:

                                                                     2014 Base       2014 Target       2013 Actual        Stock
Name                                         Title                     Salary        Cash Bonus        Cash Bonus        Options
Thomas J. Schall, Ph.D.      President and Chief Executive Officer   $  550,000     $     275,000     $     210,375       395,000
Markus J. Cappel, Ph.D.      Chief Business Officer and Treasurer    $  365,000     $     127,750     $      62,045       170,000
Susan M. Kanaya              Senior Vice President, Finance, Chief
                             Financial Officer and Secretary         $  400,000     $     140,000     $     107,476       200,000
Petrus Bekker, M.D., Ph.D.   Senior Vice President of Medical and
                             Clinical Affairs                        $  380,000     $     133,000     $     106,659       190,000


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