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In a recent filing with the Securities and Exchange Commission, Serina Therapeutics, Inc., a pharmaceutical company based in Huntsville, Alabama, disclosed the retirement of its Chief Operating Officer, Tacey Viegas. Mr. Viegas will step down from his role effective next Monday, following his notification to the company this past Monday.
Mr. Viegas's departure from Serina Therapeutics comes with a separation agreement that includes continued payment of his base salary and an additional monthly compensation for a year post-retirement. In addition to the separation terms, Serina Therapeutics has entered into a consulting agreement with Mr. Viegas, starting the day before his retirement. Through this agreement, he will offer consulting services on various company projects.
The consulting agreement also extends the term of Mr. Viegas's existing stock options, which allow him to purchase 341,889 shares of Serina Therapeutics' common stock at $0.06 per share. These options were granted under two Nonqualified Stock Option Agreements. The company clarified that aside from the terms stipulated in the consulting agreement, Mr. Viegas will not receive any other compensation.
Serina Therapeutics, previously known as AgeX Therapeutics, Inc., specializes in pharmaceutical preparations. The company is listed on the NYSE American under the ticker symbol SER. This announcement is based on the company's latest 8-K filing and reflects the most recent changes in its executive management team.
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