Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
On December 14, 2021, the Compensation Committee (the "Compensation Committee")
of the Board of Directors of ARCA biopharma, Inc. (the "Company") approved the
following incentive stock option grants to the executive officers listed below
pursuant to the Company's 2020 Equity Incentive Plan (the "2020 Plan"):
Options
Name and Title Granted (1)
Michael Bristow 95,000
President and Chief Executive Officer
Thomas A. Keuer 35,000
Chief Operating Officer
Christopher Ozeroff 27,500
Senior Vice President, General Counsel & Secretary
C. Jeffrey Dekker 17,700
Chief Financial Officer
(1)Exercise price of $2.29 per share, the closing price of the Company's common
stock on the Nasdaq Capital Market on December 14, 2021. Each Option vests in 36
equal monthly installments measured from December 14, 2021. In the event of a
change in control of the Issuer, 50% of the unvested options shall become fully
and immediately vested upon the closing date of such change in control,
provided, however, that on the earlier of (i) the one-year anniversary of the
closing date or (ii) involuntary termination, any options that remain unvested
on such earlier date shall become fully and immediately vested.
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