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Item 5.02
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Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
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Tricida, Inc., (the "Company") announced that Marc Cobo has been appointed Senior Vice President, Finance and Chief Accounting Officer effective as of June 29, 2020.
Mr. Cobo, age 40, has more than 18 years of experience in corporate accounting, including mergers and acquisitions, compliance, public offering, and financial analysis activities. Prior to joining the Company, Mr. Cobo served as Vice President of Finance at Sangamo Therapeutics, Inc. ("Sangamo"), a biotechnology company, with responsibility for accounting, procurement, IT and facilities from January 2018 to May 2019, and held various roles of increasing responsibilities within Sangamo since March 2014 (serving as Controller from October 2015 to December 2017 and Assistant Controller from March 2014 to September 2015). Prior to joining Sangamo, Mr. Cobo was a Senior Manager, Accounting, at Responsys, Inc., a software company, from June 2012 until March 2014 when the company was acquired by Oracle Corporation ("Oracle"). Prior to that position, Mr. Cobo held various roles of increasing responsibilities at Oracle, in the mergers and acquisition, technical accounting and SEC reporting teams, from November 2006 to June 2012. He started his career in audit at Ernst and Young LLP from 2002 to 2006 in the firm's biotechnology and technology practices. Mr. Cobo holds a B.S. in accounting from Santa Clara University, and is a licensed Certified Public Accountant.
Mr. Cobo will receive a base salary of $350,000 per year and is eligible for an annual discretionary bonus of up to 35 percent of his base salary. He will also receive a stock option grant for 80,000 shares of Company common stock at an exercise price equal to the fair market value on the date of grant, pursuant to the terms and conditions of the Company's 2018 Equity Incentive Plan. Twenty-five percent of the stock option grant will vest upon the completion of one year of employment and remainder of the grant will vest in successive equal monthly amounts upon completion of each of the next thirty-six months.