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Cue Biopharma , Inc., a pharmaceutical company with a market capitalization of $63.35 million, announced Monday the appointment of Pasha Sarraf to its board of directors. The decision, recommended by the Corporate Governance and Nominating Committee, is part of the company’s ongoing efforts to strengthen its leadership team. According to InvestingPro analysis, the company maintains a Fair overall financial health rating, with more cash than debt on its balance sheet.
Mr. Sarraf’s appointment did not result from any pre-existing arrangements or understandings with other parties, nor does it involve any reportable transactions under SEC regulations. As a new board member, Mr. Sarraf will be compensated according to the company’s established Director Compensation Policy, which was detailed in the company’s Form 10-Q filed on November 14, 2024.
Under this policy, Mr. Sarraf received an option grant to purchase 48,800 shares of Cue Biopharma’s common stock. The options will vest over a three-year period, with one-third vesting after one year and the remainder in eight quarterly installments.
Furthermore, Mr. Sarraf has entered into the company’s standard indemnification agreement, which will be filed with the SEC as part of Cue Biopharma’s annual report. This agreement may require the company to indemnify Mr. Sarraf for certain expenses related to his directorial role, such as legal fees, judgments, and settlement amounts.
Cue Biopharma, Inc., headquartered in Boston, Massachusetts, is known for its work in pharmaceutical preparations. The company is listed on the Nasdaq Capital Market under the ticker symbol (NASDAQ:CUE). This latest board appointment reflects the company’s commitment to governance and strategic leadership.
The information for this article is based on a press release statement.
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