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Mural Oncology plc (NASDAQ: MURA), a pharmaceutical company, announced Monday the appointment of Sachiyo Minegishi to its Board of Directors.
Minegishi, recognized as an independent director under Nasdaq rules, will also serve as the Chair of the Audit Committee and a member of the Nominating and Corporate Governance Committee. Her term is set to expire at the company's 2025 annual general meeting.
The appointment, effective September 20, 2024, was made by the Board on the recommendation of the Nominating and Corporate Governance Committee. Minegishi's addition aligns with Mural Oncology's governance practices and reinforces the Board's commitment to independent oversight.
Under the company's non-employee director compensation program, Minegishi received an option to purchase 15,335 ordinary shares at $3.38 per share, which will vest over three years in equal quarterly installments, contingent upon continued service.
In the event of a company takeover, these options will vest immediately. Additionally, she will receive an annual cash compensation of $40,000, additional payments for committee roles, annual equity grants, and reimbursement for expenses related to Board service.
The news follows a series of name changes for the company, which was formerly known as Mural Oncology Ltd and Pistachiovale Ltd, with changes occurring on April 3, 2023, and March 29, 2023, respectively.
Another noteworthy development is the ongoing late-stage trials of the company's lead candidate, nemvaleukin, for mucosal melanoma and platinum-resistant ovarian cancer. The results of these trials are expected in early 2025. Mural Oncology is also advancing two preclinical programs toward candidate nomination later this year.
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