(Edgar Glimpses Via Acquire Media NewsEdge) Item 1.01 Entry into a Material Definitive Agreement
The disclosure set forth under Item 5.02 of this Current Report on Form 8-K is
incorporated into this Item 1.01 by reference.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
(b) On February 5, 2014, Dr. Patrick O'Connor resigned from his positions as
Chief Scientific Officer and Sr. Vice President, Research of Ignyta, Inc.
("Ignyta"), effective immediately. Dr. O'Connor had been on a previously
announced unpaid medical leave of absence since September 2013.
In connection with Dr. O'Connor's resignation, Ignyta and Dr. O'Connor entered
into a letter agreement dated as of February 5, 2014 (the "Agreement"). Under
the Agreement, Ignyta accelerated vesting with respect to 100,000 of 500,000
shares of restricted common stock of Ignyta held by Dr. O'Connor, and Ignyta
repurchased the remaining 400,000 unvested shares for Dr. O'Connor's original
purchase price of $1,440 in the aggregate. The Agreement also contains customary
release of liability provisions.
The foregoing description of the Agreement is qualified in its entirety by
reference to the full text of such Agreement, a copy of which is attached hereto
as Exhibit 10.1 and is incorporated herein by reference.
The press release dated February 6, 2014 announcing Dr. O'Connor's resignation
is attached hereto as Exhibit 99.1.
Item 9.01 Financial Statements and Exhibits
Exhibit No. Description
10.1 Letter agreement between Ignyta, Inc. and Dr. Patrick O'Connor
dated February 5, 2014.