Nuvalent, Inc. (NASDAQ:NUVL), a pharmaceutical company, has announced the appointment of Grant Bogle as an independent director to its board, effective immediately as of Monday. Bogle was elected to serve until the company's 2025 annual meeting of stockholders.
Bogle's appointment follows the company's policies and procedures for board membership, including a review by the Nominating and Corporate Governance Committee. He will be a Class I director and is considered independent according to Nasdaq rules.
As a non-employee director, Bogle will receive compensation in line with Nuvalent's established policy. This includes an initial stock option grant to purchase 4,851 shares of Nuvalent's Class A common stock at $93.73 per share and a restricted stock unit grant for 3,200 shares. These grants will vest over three years, contingent upon his continued service. Additionally, Bogle will receive annual cash retainers and may receive extra compensation for serving on board committees.
In a related development, Nuvalent's board approved a new form of award agreement for restricted stock units with performance-based vesting under the company's 2021 Stock Option and Incentive Plan.
The news above is based on an SEC filing.
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