Lisata Therapeutics Inc.

04/17/2024 | Press release | Distributed by Public on 04/17/2024 14:04

Management Change/Compensation - Form 8-K

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On April 15, 2024 (the "Effective Date"), the Board of Directors (the "Board") of Lisata Therapeutics, Inc. (the "Company") appointed James Nisco as the Company's Senior Vice President, Finance and Treasury and Chief Accounting Officer, effective immediately. As of the Effective Date, Mr. Nisco shall serve as the Company's principal financial officer and principal accounting officer.
Mr. Nisco, 53, has served as Senior Vice President, Finance and Treasury and Chief Accounting Officer of the Company since April 2024. From August 2020 through April 2024, Mr. Nisco served as Vice President of Finance & Treasury of the Company, and from February 2012 to August 2020, Mr. Nisco served as Senior Director of Treasury, Financial Planning and Analysis of the Company. Mr. Nisco oversees all finance activities for the Company. With over 25 years of experience in corporate finance, Mr. Nisco has held various senior finance positions prior to Lisata, including at OSI Pharmaceuticals, Inc. (acquired by Astellas) and Ciba Corporation (acquired by The BASF Group). Mr. Nisco began his career at Ciba-Geigy (now Novartis Pharmaceuticals). Mr. Nisco holds an MBA in Financial Management from Pace University and a Bachelor of Science in Business Economics from the State University of New York, College at Oneonta.
In connection with Mr. Nisco's appointment, the Compensation Committee of the Board (the "Compensation Committee") approved updated compensation for Mr. Nisco, consisting of a $350,000 annual base salary and a bonus short-term incentive target equal to 35% of base salary, effective as of the Effective Date. Such bonus, if any, will be determined by the Compensation Committee.
The selection of Mr. Nisco to perform the functions of Senior Vice President, Finance and Treasury and Chief Accounting Officer was not pursuant to any arrangement or understanding between Mr. Nisco and any other person. There are no family relationships between Mr. Nisco and any director or executive officer of the Company, and there are no transactions between Mr. Nisco and the Company that would be required to be reported under Item 404(a) of Regulation S-K.
Mr. Nisco will enter into an indemnification agreement, which will be effective as of the Effective Date, in the form the Company has entered into with its other executive officers, which form is filed as Exhibit 10.6 to the Company's Annual Report on Form 10-K filed by the Company on February 29, 2024 and is incorporated herein by reference.