Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On January 22, 2020, the Board of Directors (the "Board") of Turning Point
Therapeutics, Inc. (the "Company"), upon recommendation of the Nominating and
Corporate Governance Committee of the Board, appointed Garry Nicholson as a
Class I director of the Company, and as a member of the Nominating and Corporate
Governance Committee and the Compensation Committee of the Board, with a term of
office expiring at the 2020 annual meeting of stockholders. There are no
arrangements or understandings between Mr. Nicholson and any other person
pursuant to which he was selected as a director. In addition, there are no
transactions in which Mr. Nicholson has an interest that would require
disclosure under Item 404(a) of Regulation S-K.
Pursuant to the Company's compensation policy for non-employee directors (the
"Compensation Policy"), Mr. Nicholson (i) will receive an annual cash retainer
of (a) $40,000 for service on the Board, (b) $5,000 for service as a member of
the Compensation Committee of the Board and (c) $4,000 for service as a member
of the Nominating and Corporate Governance Committee of the Board, and (ii) was
granted on the date of his appointment an option to purchase 25,000 shares of
the Company's common stock, which vests monthly over a three-year period. The
Compensation Policy also provides for further automatic annual option grants to
purchase 12,500 shares of the Company's common stock on the date of each annual
meeting of stockholders, which vest in full on the one-year anniversary of the
date of grant. Each of the option grants described above will vest in full in
the event of a change in control (as defined in the Company's 2019 equity
incentive plan) provided Mr. Nicholson remains in continuous service with the
Company as of immediately prior to such change in control. Mr. Nicholson has
also entered into the Company's standard form of Indemnity Agreement for
directors of the Company.
--------------------------------------------------------------------------------
© Edgar Online, source Glimpses
TURG POIN 
