Current Report Filing (8-k)
January 25 2019 - 4:36PM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
DC 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of
The
Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported)
January
22, 2019
INTEC
PHARMA LTD.
(Exact
name of registrant as specified in its charter)
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Israel
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001-37521
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N/A
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(State
or other jurisdiction
of
incorporation)
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(Commission
File Number)
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(IRS
Employer
Identification
No.)
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12
Hartom St.
Har
Hotzvim
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Jerusalem,
Israel
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9777512
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(Address
of principal executive offices)
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(Zip
Code)
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+
972-2-586-4657
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(Registrant’s
telephone number, including area code)
(Former
name or former address, if changed since last report)
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Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions (see General Instruction A.2. below):
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☐
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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☐
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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☐
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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☐
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Indicate
by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act
of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this
chapter).
Emerging
growth company ☒
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period
for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange
Act. ☒
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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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On
January 22, 2019, the Board of Directors of Intec Pharma Ltd. (the “Company”), upon recommendation of its Compensation
Committee, approved (i) the payment of a 2018 cash performance bonus of $130,613, the grant of 90,000 options to purchase ordinary
shares of the Company pursuant to the Company’s 2015 Equity Incentive Plan, an annual 2019 base salary of $340,000, and
an annual discretionary bonus target for 2019 of 50% of annual base salary to Walt A. Linscott, the Company’s Chief Business
Officer; and (ii) the payment of a 2018 cash performance bonus of $110,008, the grant 110,000 options to purchase ordinary shares
of the Company pursuant to the Company’s 2015 Equity Incentive Plan, an annual 2019 base salary of $336,000, and an annual
discretionary bonus target for 2019 of 40% of annual base salary to Dr. R. Michael Gendreau, the Company’s Chief Medical
Officer. The foregoing options have an exercise price of $7.268 per share, a seven-year term and, subject to the executive’s
continued employment with the Company on the applicable vesting date, vest with respect to one-third of the ordinary shares on
the first anniversary of the date of grant and with respect to the balance of the ordinary shares shall vest over two years in
eight equal quarterly installments following the first anniversary of the date of grant.
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:
January 25, 2019
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INTEC
PHARMA LTD.
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By:
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/s/
Nir Sassi
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Nir
Sassi
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Chief
Financial Officer
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Intec Parent (NASDAQ:NTEC)
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