GREY:IMVIF - Post by User
Comment by
LR6852on May 27, 2021 2:45pm
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Post# 33279524
RE:RE:RE:RE:my kid took one look at the SP graph ...
RE:RE:RE:RE:my kid took one look at the SP graph ... The Corporation’s 2020 annual key objectives (the “2020 Key Objectives”) were grouped under four general goals including (i) Financial, (ii) Scientific/Clinical, (iii) Business Development/Partnering, and (iv) Human Resources. The following specific objectives were underlying 2020 Key Objectives:
| | | | | | |
| | Objectives | | Attainment | |
| Financial | 1. | Have cash for 18 months at year-end | 20% | 65% | 13% |
| 2. | Develop US Institutional ownership to 10% | 10% | 120% | 12% |
| | TOTAL | 30% | | 25% |
| Scientific / Clinical | 1. | Obtain FDA input on and submit IND for a phase 2 trial in DLBCL | 20% | 80% | 16% |
| 2. | Complete go/no-go decision for 4 out of 5 cohorts by end of year in the solid tumor basket trial including stage 1 enrollment for all indications (5%) | 5% | 80% | 4% |
| 3. | Obtain clinical results for COVID-19 vaccine candidate (safety and immunogenicity) | 20% | 25% | 5% |
| | TOTAL | 45% | | 25% |
| Business Development / Partnering | 1. | Obtain government financing for development of COVID-19 vaccine candidate | 15% | 100% | 15% |
| 2. | Execute first phase of launch plan for DLBCL | 5% | 75% | 3.75% |
| | TOTAL | 20% | | 18.75% |
Human
Resources | 1. | Develop total rewards program integrating benchmarking, succession/retention plan and equal pay for equal work to support 90% retention rate | 2.5% | 100% | 2.5% |
| 2. | Implement corporate policy and training recommendations to support market readiness | 2.5% | 100% | 2.5% |
| | TOTAL | 5% | | 5% |
| GRAND TOTAL | 73.75% |
| INCREASE BASED ON THE HIRING OF A NEW CBO, IDENTIFICATION OF POTENTIAL BIOMARKER | 1.25% |
| ATTAINMENT FOR BONUS CALCULATION | 75% |
The Compensation Committee then reviewed the annual incentive award recommendation prepared by the Chief Executive Officer for all Named Executive Officers (except for himself) that is based on the proportional attainment of the Corporate Objectives. The Compensation Committee also assessed the Chief Executive Officer’s performance for 2020 and, further to such review the Compensation Committee, provided a recommendation to the Board. The Board reviewed and discussed the recommendation of the Compensation Committee for the Named Executive Officers and for the Chief Executive Officer and approved the following payment of the annual incentive award to the Named Executive Officers and the Chief Executive Officer:
| | | | |
| | Annual incentive | | |
| | approved as a | Attainment of the | |
| Named Executive Officers | percentage of Base | Corporate Objectives | |
| | Salary | (%) | Total |
| | | | ($) |
| Frederic Ors | 50% | 75% | 206,300 |
| Pierre Labb | 40% | 75% | 120,000 |
| Joanne Schindler | 40% | 75% | 152,800(1) |
| (1) | Dr. Schindler’s compensation is paid in US dollars and converted for disclosure purposes based on the Bank of Canada exchange rate on December 31, 2020, being US$1.00 = C$1.2732. |