Company: AGIO
Filing Date: 2025-07-08
Form Type: 8-K
Source: 0001439222-25-000076
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Company: AGIOS PHARMACEUTICALS, INC.
Filing Date: 2025-07-08
Form: 8-K
Item: Item 5.02
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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 3, 2025, the Board of Directors (the “ Board”) of Agios Pharmaceuticals, Inc. (the “ Company”), upon the recommendation of the Nominating and Corporate Governance Committee of the Board (the “ Corporate Governance Committee”), elected Jay Backstrom, M. D., MPH, as a director, effective as of July 8, 2025 (the “ Effective Date”). Dr. Backstrom has been designated as a class III director to serve in accordance with the Company’s Third Amended and Restated By-Laws until the Company’s 2028 Annual Meeting of Stockholders and thereafter until his successor has been duly elected and qualified or until his earlier death, removal or resignation. The Board, upon the recommendation of the Corporate Governance Committee, appointed Dr. Backstrom to serve as a member of the Science and Technology Committee of the Board, effective as of the Effective Date.

There are currently no arrangements or understandings between Dr. Backstrom and any other person pursuant to which Dr. Backstrom was selected as a director. There are currently no transactions in which Dr. Backstrom has an interest requiring disclosure under Item 404(a) of Regulation S-K.

In accordance with the Company’s non-employee director compensation policy (the “ Policy”), Dr. Backstrom will receive (i) annual cash compensation of (a) $50,000 ($12,500 per quarter) for his service as a director and (b) $7,500 ($1,875 per quarter) for his service on the Science and Technology Committee and (ii) reimbursement for reasonable travel and other expenses incurred in connection with attending meetings of the Board and committees thereof. In addition, in accordance with the Policy, the Board will grant Dr. Backstrom, effective on the Effective Date, (i) a nonstatutory stock option to purchase the number of shares of the Company’s common stock that has a Black-Scholes value as of the date of grant equal to $472,500, which will be based on the closing price of the Company’s common stock on the Nasdaq Global Select Market on the Effective Date and (ii) restricted stock units for a number of shares of the Company’s common stock equal to $157,500 divided by the closing price of the Company’s common stock on the Nasdaq Global Select Market on the Effective Date. The