8-K: Current report filing
Published on October 18, 2022
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
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FORM
CURRENT REPORT
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| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On October 12, 2022, the Compensation Committee (the “Compensation Committee”) of the Board of Directors of Benitec Biopharma Inc. (the “Company”) approved discretionary bonus payments for Dr. Jerel Banks, the Company’s Executive Chairman and Chief Executive Officer, and Megan Boston, the Company’s Executive Director, in connection with their performance during the Company’s fiscal year ending June 30, 2022, in the amount of $260,000 for Dr. Banks and $127,020 for Ms. Boston (Ms. Boston’s bonus as reported in this Current Report on Form 8-K has been converted to U.S. dollars from Australian dollars using a conversion rate of AUD $1.00 to USD $0.73, and is $109,620 USD using a conversion rate of AUD $1.00 to USD $0.63, which was the conversion rate as of October 12, 2022). In addition, also on October 12, 2022, the Compensation Committee approved increases of Dr. Banks’ and Ms. Boston’s annual base salaries to $546,000 and $333,427.50 (Ms. Boston’s salary as reported in this Current Report on Form 8-K has been converted from AUD $1.00 to USD $0.73, and is $287,752.50 using a conversion rate of AUD $1.00 to USD $0.63, which was the conversion rate as of October 12, 2022) respectively, each effective as of October 1, 2022. In addition, the Compensation Committee has not changed the target annual discretionary bonus with respect to the Company’s fiscal year ending June 30, 2023 which are 50% and 40% of the base salary for each of Dr. Banks and Ms. Boston, respectively.
SIGNATURES
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, thereunto duly authorized.
| BENITEC BIOPHARMA INC. | ||||||
| Date: October 18, 2022 | /s/ Jerel A. Banks |
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| Name: | Jerel A. Banks | |||||
| Title: | Chief Executive Officer | |||||