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MRTX > SEC Filings for MRTX > Form 8-K on 22-Jun-2016All Recent SEC Filings

Show all filings for MIRATI THERAPEUTICS, INC.



Change in Directors or Principal Officers, Financial Statements and Exh

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

(b) On June 22, 2016, Mark J. Gergen and Mirati Therapeutics, Inc. (the "Company") mutually agreed that Mr. Gergen will resign as the Company's Executive Vice President and Chief Operations Officer, effective September 16, 2016 (the "Separation Date"). In exchange for providing transition services through the Separation Date, the Company and Mr. Gergen intend to enter into a transition and separation agreement (the "Separation Agreement") that provides Mr. Gergen will receive, as severance benefits, (a) 12 months base salary,
(b) reimbursement of COBRA premiums through September 16, 2017, or, if earlier, his death or eligibility for health insurance through a new employer, and
(c) extension of the post-termination exercise period of his options to acquire Company common stock to June 30, 2017. The Separation Agreement will also contain a nondisparagement obligation on both parties, and a standard release of claims on the part of Mr. Gergen.

In connection with Mr. Gergen's transition, the Board appointed Rodney Lappe, the current Chairman of the Board, as Executive Chairman of the Board. As Executive Chairman, Mr. Lappe will serve as an advisor to the management team. A press release announcing Mr. Gergen's transition and Dr. Lappe's appointment is attached hereto as Exhibit 99.1.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

No. Description

99.1 Press Release dated June 22, 2016

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