Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
On January 4, 2021, Carlos Garcia-Parada, MBA joined Rocket Pharmaceuticals,
Inc. (the "Company") as the Company's Chief Financial Officer and Principal
Financial Officer.
Mr. Garcia-Parada, age 56, most recently served as the Vice President & Finance
Head Oncology USA at Novartis International AG ("Novartis"), a global
pharmaceutical company, a position he held since January 2011. Prior to that
role, he held positions of increasing seniority at Novartis and its predecessor
company Ciba-Geigy AG, beginning in 1988. Mr. Garcia-Parada holds a Master of
Business Administration from the University of Chicago - Booth School of
Business and a degree in Accounting from Gran Colombia University, Bogota,
Colombia.
Mr. Garcia-Parada's offer letter provides for "at will" employment. Pursuant to
the terms of his offer letter, Mr. Garcia-Parada is entitled to receive an
annual base salary of $410,000 per year and a target bonus of 40% of such
salary. In accordance with the offer letter, the Company granted Mr.
Garcia-Parada a stock option to purchase 125,000 of the Company's common
ordinary shares (the "Option") pursuant to the Company's Second Amended and
Restated 2014 Stock Option and Incentive Plan with a per share exercise price
equal to the closing price of the Company's common stock on the Nasdaq Global
Market on the date of grant. One-third of the shares subject to the Option will
vest and become exercisable on the one-year anniversary of the date of grant,
and the remaining two-thirds of the shares subject to the Option will vest and
become exercisable in eight quarterly increments over the following two years,
subject to Mr. Garcia-Parada's continued employment with the Company. Mr.
Garcia-Parada has not entered into any related party transactions with the
Company that are required to be disclosed pursuant to Item 404(a) of Regulation
S-K. Mr. Garcia-Parada has no family relationship with any of the executive
officers or directors of the Company. There were neither any arrangements nor
any understandings between Mr. Garcia-Parada and any other person pursuant to
which he will be appointed as an officer of the Company.
The foregoing description of Mr. Garcia-Parada's offer letter is only a summary
and is qualified in its entirety by reference to the full text of the agreement,
a copy of which will be filed with the Company's Annual Report on Form 10-K for
the year ended December 31, 2020.
John Militello, CPA, previously the Company's Vice President - Finance, Senior
Controller, Treasurer and Principal Financial and Accounting Officer, will now
serve as the Company's Vice President - Finance, Senior Controller, Treasurer
and Principal Accounting Officer.
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