UNITED STATES
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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 July 26, 2024, the Board of Directors (the “Board”) of SpringWorks Therapeutics, Inc. (the “Company”), appointed Martin Mackay as a member of the Board, effective July 29, 2024. The Board determined that Mr. Mackay is independent under the Nasdaq listing standards and the Company’s corporate governance guidelines. Mr. Mackay will serve as a Class II director with a term expiring at the annual meeting of stockholders to be held in 2027. Mr. Mackay was not appointed to serve on any committees of the Board at this time.
As a non-employee director, Mr. Mackay will receive cash compensation and equity awards for his Board service in accordance with the Company’s amended and restated non-employee director compensation policy. In connection with his appointment, Mr. Mackay received initial equity grants of (i) options to purchase up to 29,445 shares of the Company’s common stock having an exercise price of $36.80, the closing market price of the Company’s common stock on the Nasdaq Global Select Market on July 29, 2024; and (ii) restricted stock unit awards, representing 9,963 shares of the Company’s common stock.
Mr. Mackay is not a party to any transaction with the Company that would require disclosure under Item 404(a) of Regulation S-K, and there are no arrangements or understandings between Mr. Mackay and any other persons pursuant to which he was selected as a director. In addition, Mr. Mackay will enter into an indemnification agreement with the Company consistent with the form of indemnification agreement entered into between the Company and its existing non-employee directors.
The Company issued a press release on July 29, 2024 announcing the appointment of Mr. Mackay to the Board. A copy of this press release is furnished as Exhibit 99.1 to this report on Form 8-K and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
| Exhibit No. |
Description | |
| 99.1 | Press Release issued by SpringWorks Therapeutics, Inc. on July 29, 2024. | |
| 104 | Cover page interactive data file (embedded within the Inline XBRL document) |
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 hereunto duly authorized.
| Date: July 30, 2024 | SpringWorks Therapeutics, Inc. | |
| By: | /s/ Francis I. Perier, Jr. | |
| Francis I. Perier, Jr. | ||
| Chief Financial Officer | ||
Exhibit 99.1
SpringWorks Therapeutics Appoints Dr. Martin Mackay to its Board of Directors
July 29, 2024
STAMFORD, Conn., July 29, 2024 (GLOBE NEWSWIRE) -- SpringWorks Therapeutics, Inc. (Nasdaq: SWTX), a commercial-stage biopharmaceutical company focused on severe rare diseases and cancer, today announced the appointment of Martin Mackay, Ph.D. to the Company’s Board of Directors. Dr. Mackay is a highly accomplished research and development (R&D) executive with more than 30 years of pharmaceutical and biotech R&D experience, including leadership roles at Pfizer, AstraZeneca and Alexion.
“Martin is a proven industry leader whose experience in developing and delivering novel treatments to patients in need is exceptional,” said Saqib Islam, Chief Executive Officer of SpringWorks. “His expertise in rare diseases and unique perspectives leading multiple Research and Development organizations across the globe will be extremely valuable to SpringWorks as we advance and expand our pipeline and execute on our mission to make a meaningful difference in patients’ lives. I am delighted to welcome Martin to the SpringWorks team.”
“I am very pleased to join the SpringWorks Board and work with a group of talented and visionary leaders who are driven by a joint mission to develop and deliver transformative therapies for patients with devastating diseases,” said Dr. Mackay. “I believe SpringWorks is uniquely positioned to make a significant impact in therapeutic areas with tremendous potential, and it is an honor to bring my experience and knowledge to support the important work that SpringWorks is doing.”
Dr. Mackay is a co-founder and Executive Chairman of Rallybio, a privately held clinical-stage biotechnology company focused on severe rare diseases that was incorporated in January 2018. Previously, Dr. Mackay was Executive Vice President, Head of Research and Development at Alexion from 2013 until 2017. Prior to joining Alexion, Dr. Mackay served as President, Research and Development at AstraZeneca from 2010 to 2013, where he led the R&D functions worldwide, including discovery research, clinical development, regulatory affairs, and key related R&D functions. From 1995 to 2009, he held various positions at Pfizer Inc., including Senior Vice President of Worldwide Development, where he was a member of the Executive Leadership Team and led a global organization tasked with advancing a portfolio of investigational medicines across a range of disease areas, and President, Head of Pfizer Pharmatherapeutics, R&D, where he oversaw all aspects of small molecule discovery and development across multiple therapeutic areas. From 1986 to 1995, Dr. Mackay worked at Ciba-Geigy (now Novartis) in the United Kingdom and Switzerland, and held various positions in academic research prior to that time. Dr. Mackay is currently a member of the Board of Directors of Charles River Laboratories and Novo Nordisk. He received a First-Class Honours Degree in microbiology from Heriot-Watt University and his Ph.D. in molecular genetics from the University of Edinburgh.
About SpringWorks Therapeutics
SpringWorks is a commercial-stage biopharmaceutical company applying a precision medicine approach to developing and delivering life-changing medicines for people with severe rare diseases and cancer. OGSIVEO® (nirogacestat), approved in the United States for the treatment of adult patients with progressing desmoid tumors who require systemic treatment, is the Company’s first FDA-approved therapy. SpringWorks also has a diversified targeted therapy pipeline spanning solid tumors and hematological cancers, with programs ranging from preclinical development through advanced clinical trials. In addition to its wholly owned programs, SpringWorks has also entered into multiple collaborations with innovators in industry and academia to unlock the full potential for its portfolio and create more solutions for patients in need.
For more information, visit www.springworkstx.com and follow @SpringWorksTx on X (formerly Twitter), LinkedIn, and YouTube.
Contacts:
Kim Diamond
Vice President, Communications and Investor Relations
Phone: 203-561-1646
Email: kdiamond@springworkstx.com
Samantha Hilson Sandler
Senior Director, Investor Relations
Phone: 203-461-5501
Email: samantha.sandler@springworkstx.com