Summary by Futu AI
Recursion Pharmaceuticals announced that Ben Taylor has been appointed as Chief Financial Officer and President of Recursion UK, effective December 2, 2024. Taylor's compensation package includes a £400,000 annual base salary, with both cash and equity bonuses targeted at 25% of base salary. He will also receive a $5 million equity grant, split equally between restricted stock units and stock options, vesting over four years.Taylor's employment terms include participation in the Company's Executive Change in Control and Severance Plan, and his existing awards from the recent Exscientia acquisition will maintain their current vesting schedule. These Exchanged Awards will fully vest if his employment is terminated without cause or if he resigns for good reason within twelve months of the November 20, 2024 closing date.The employment agreement requires a three-month advance notice for termination or payment in lieu thereof, with provisions for garden leave under certain circumstances. Any garden leave or notice period payments will offset potential severance benefits under the Severance Plan.
Comment(0)
Reason For Report