Fulcrum Therapeutics Appoints Alex C. Sapir as CEO

  • Investing.com
Fulcrum Therapeutics Appoints Alex C. Sapir as CEO

Fulcrum Therapeutics (NASDAQ: FULC ), Inc.® (Nasdaq: FULC) today announced the appointment of Alex C. Sapir as chief executive officer and president, effective July 1st, 2023. Upon assuming his new role, Mr. Sapir will also join Fulcrum’s board of directors. Interim CEO and president, Robert Gould Ph.D., will continue to serve as a member of the board of directors following the transition.

“We are delighted to welcome Alex as our new CEO,” said Dr. Gould. “Alex brings a wealth of experience leading innovative companies through periods of strategic change, and a strong track record of delivering growth and enhanced value to patients, employees, and stockholders. We have great confidence in his ability to shepherd our company through the next phase of our journey.”

“I am both honored and excited to lead Fulcrum at this pivotal stage,” said Mr. Sapir. “Fulcrum’s progress to date is a testament to what can be achieved when a commitment to patients and visionary science come together. I look forward to building on this strong foundation as we work to advance and expand our pipeline to deliver on its unique promise for patients.”

Mr. Sapir joined Fulcrum as special advisor to the interim president and CEO in a part-time capacity before assuming his new role. Effective with the commencement of his employment, Fulcrum granted Mr. Sapir an inducement award under Fulcrums’ 2022 Inducement Stock Incentive Plan on May 12, 2023, as an inducement material to his entry into employment with Fulcrum in accordance with Nasdaq Listing Rule 5635(c)(4).

The inducement grant consisted of a non-statutory option to purchase up to 2,430,400 shares of Fulcrum’s common stock. The option has an exercise price of $3.27 per share, the closing price per share of Fulcrum’s common stock as reported by Nasdaq on May 12, 2023. The option has a ten-year term and vests over four years, with 25% of the original number of shares vesting on the first anniversary of Mr. Sapir’s advisory role date and an additional 6.25% of the shares vesting in equal quarterly installments over the twelve successive quarters following the first anniversary, subject to Mr. Sapir’s continued service with Fulcrum through the applicable vesting dates.

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