SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): November 26, 2019
(Exact name of Registrant as Specified in Its Charter)
(State or Other Jurisdiction
500 Boylston Street, 13th Floor
|(Address of principal executive offices)||(Zip Code)|
Registrants telephone number, including area code: (857) 315-5528
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Name of each exchange
on which registered
|Common Stock, par value $0.0001 per share||TORC||The Nasdaq Global Select Market|
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company ☒
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
|Item 5.02.|| |
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On November 26, 2019, resTORbio, Inc. (the Company) terminated the employment of Meredith Manning, the Companys Chief Commercial Officer, effective as of December 6, 2019. Ms. Mannings separation from the Company constitutes a termination without cause as defined in that certain Employment Agreement, dated as of August 30, 2018, between the Company and Ms. Manning filed as Exhibit 99.1 to the Companys Current Report on Form 8-K filed September 18, 2018. In connection with the Companys decision to discontinue development of RTB101 in clinically symptomatic respiratory illness, it has terminated eight employees, including Ms. Manning. Subject to the Companys receipt of a general release of claims and pursuant to the terms of a separation agreement, Ms. Manning will receive salary continuation for a period of six months post the date of termination and a pro-rated 2019 bonus in the amount of $100,842, calculated by using a target amount for the level of corporate achievement.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|Date: December 2, 2019||resTORbio, Inc.|
|President and Chief Executive Officer|