Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On January 10, 2021, the Board of Directors (the "Board") of Beam Therapeutics
Inc. (the "Company") appointed Kathleen Walsh as a director of the Company and
as a member of the Audit Committee of the Board, effective as of January 10,
2021.
In accordance with the Company's current Non-Employee Director Compensation
Policy (the "Policy"), Ms. Walsh will receive an initial grant of an option to
purchase shares of the Company's common stock having a grant date fair value,
determined in accordance with FASB ASC Topic 718 (or any successor provision),
approximately equal to $770,000. The option will vest as to one-third of the
shares subject to the option on the first anniversary of the date of grant and
in equal monthly installments as to the remainder of the shares for two years
thereafter, subject to Ms. Walsh's continued service on the Board through each
applicable vesting date.
In addition, consistent with the Policy, Ms. Walsh will receive cash
compensation of $40,000 per year for her service on the Board and $7,500 per
year for her service as a member of the Audit Committee of the Board. Ms. Walsh
will also be eligible to receive annual grants of equity awards pursuant to, and
in accordance with, the Policy as in effect from time to time.
In connection with her appointment, Ms. Walsh will enter into a standard
indemnification agreement in the form previously approved by the Board.
--------------------------------------------------------------------------------
© Edgar Online, source Glimpses