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STOCK TITAN

[8-K] Geron Corp Reports Material Event

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K
Rhea-AI Filing Summary

Event: Geron Corporation (GERN) filed an 8-K reporting the appointment of Harout Semerjian as President, Chief Executive Officer and director, effective August 7, 2025.

  • CEO appointment: Mr. Semerjian replaces Dawn C. Bir and will fill a Class I board vacancy through the 2027 annual meeting.
  • Compensation: Annual base salary $800,000; annual performance target bonus 70% of base salary (prorated for 2025).
  • Equity inducement: Grant of stock options to purchase 11,000,000 shares under the 2018 Inducement Award Plan; exercise price = Nasdaq closing price on start/grant date.
  • Vesting: 7,000,000 options: 12.5% at six months then monthly over 42 months; 4,000,000 options: 25% at one year then monthly over 36 months; full vest upon Change in Control.
  • Severance: Covered Termination: prorated target bonus, lump-sum equal to 18 months base salary, COBRA for up to 18 months; vested options remain exercisable until earlier of two years post-termination or original expiration.
  • Plan amendments: Amended and Restated Severance Plan effective August 1, 2025 adds a CEO payment equal to 150% of target bonus upon a qualifying Change of Control; 2018 Inducement Award Plan amended to add 11,000,000 shares for inducement grants.
  • Exhibits: Employment Agreement (Exhibit 10.1), Amended Severance Plan (Exhibit 10.2), Amended 2018 Inducement Plan (Exhibit 10.3).

Evento: Geron Corporation (GERN) ha depositato un 8-K segnalando la nomina di Harout Semerjian a Presidente, Amministratore Delegato e amministratore, con effetto dal 7 agosto 2025.

  • Nomina del CEO: Il Sig. Semerjian sostituisce Dawn C. Bir e coprirà una vacanza del consiglio di Classe I fino all'assemblea annuale del 2027.
  • Retribuzione: Salario base annuo $800.000; bonus annuo obiettivo pari al 70% del salario base (prorata per il 2025).
  • Assegnazione azionaria: Concessione di opzioni per acquistare 11.000.000 di azioni ai sensi del 2018 Inducement Award Plan; prezzo di esercizio = prezzo di chiusura Nasdaq alla data di inizio/concessione.
  • Vesting: 7.000.000 di opzioni: 12,5% a sei mesi poi maturazione mensile per 42 mesi; 4.000.000 di opzioni: 25% a un anno poi maturazione mensile per 36 mesi; maturazione integrale in caso di Change in Control.
  • Indennità di fine rapporto: In caso di cessazione coperta: bonus obiettivo proporzionato, pagamento unico pari a 18 mesi di salario base, copertura COBRA fino a 18 mesi; le opzioni già maturate restano esercitabili fino al primo tra due anni dopo la cessazione o la data di scadenza originaria.
  • Modifiche ai piani: L'Amended and Restated Severance Plan, con efficacia dal 1º agosto 2025, aggiunge un pagamento al CEO pari al 150% del bonus obiettivo in caso di un Change of Control qualificante; il 2018 Inducement Award Plan è stato modificato per aggiungere 11.000.000 di azioni per assegnazioni di inducement.
  • Allegati: Contratto di lavoro (Allegato 10.1), Severance Plan emendato (Allegato 10.2), 2018 Inducement Plan emendato (Allegato 10.3).

Evento: Geron Corporation (GERN) presentó un 8-K informando la designación de Harout Semerjian como Presidente, Director Ejecutivo y miembro del consejo, con efecto a partir del 7 de agosto de 2025.

  • Nombramiento del CEO: El Sr. Semerjian reemplaza a Dawn C. Bir y ocupará una vacante de la Junta de Clase I hasta la junta anual de 2027.
  • °ä´Ç³¾±è±ð²Ô²õ²¹³¦¾±Ã³²Ô: Salario base anual $800,000; bono objetivo anual equivalente al 70% del salario base (prorrateado para 2025).
  • Concesión de acciones: Otorgamiento de opciones para comprar 11,000,000 de acciones bajo el 2018 Inducement Award Plan; precio de ejercicio = precio de cierre de Nasdaq en la fecha de inicio/otorgamiento.
  • Vesting: 7,000,000 de opciones: 12.5% a los seis meses y luego adquisición mensual durante 42 meses; 4,000,000 de opciones: 25% al año y luego adquisición mensual durante 36 meses; adquisición total en caso de Change in Control.
  • Indemnización por terminación: Terminación cubierta: bono objetivo prorrateado, pago único equivalente a 18 meses de salario base, COBRA hasta 18 meses; las opciones ya adquiridas seguirán pudiéndose ejercer hasta el primero de: dos años tras la terminación o la expiración original.
  • Enmiendas a los planes: El Amended and Restated Severance Plan, con vigencia desde el 1 de agosto de 2025, añade un pago al CEO igual al 150% del bono objetivo en caso de un Change of Control calificante; el 2018 Inducement Award Plan se enmendó para añadir 11,000,000 de acciones para concesiones por inducement.
  • Anexos: Contrato de empleo (Anexo 10.1), Severance Plan enmendado (Anexo 10.2), 2018 Inducement Plan enmendado (Anexo 10.3).

사건: Geron Corporation (GERN)ì€ 8-Kë¥� 제출하여 Harout Semerjianì� 2025ë…� 8ì›� 7ì¼ë¶€ë¡� 사장, 최고경ì˜ìž�(CEO) ë°� ì´ì‚¬ë¡� 선임했다ê³� 보고했습니다.

  • CEO ì„ ìž„: Semerjian 씨는 Dawn C. Birë¥� 대신하ë©� 2027ë…� ì—°ë¡€ 주주ì´íšŒê¹Œì§€ í´ëž˜ìŠ� I ì´ì‚¬íš� ê³µì„ì� 채ì›ë‹ˆë‹¤.
  • 보수: ì—°ê°„ 기본ê¸� $800,000; ì—°ê°„ 성과 목표 보너스는 ê¸°ë³¸ê¸‰ì˜ 70% (2025ë…„ì€ ì¼í•  계산).
  • ì£¼ì‹ ì¸ì„¼í‹°ë¸Œ: 2018 Inducement Award Planì—� ë”°ë¼ 11,000,000주를 매수í•� ìˆ� 있는 스톡옵션 ë¶€ì—�; 행사가ê²� = 시작/부여ì¼ì� 나스ë‹� 종가.
  • 베스íŒ�: 7,000,000 옵션: 6개월 ì‹� 12.5% 베스íŒ� í›� 42개월ê°� 매월 베스íŒ�; 4,000,000 옵션: 1ë…� ì‹� 25% 베스íŒ� í›� 36개월ê°� 매월 베스íŒ�; Change in Control ë°œìƒ ì‹� ì „ì•¡ 베스íŒ�.
  • í•´ê³  ì‹� ë³´ìƒ: ì ìš©ë˜ëŠ” 종료ì� 경우: 목표 ë³´ë„ˆìŠ¤ì˜ ë¹„ë¡€ ì§€ê¸�, 기본ê¸� 18ê°œì›”ë¶„ì— í•´ë‹¹í•˜ëŠ” ì¼ì‹œê¸�, COBRA 최대 18개월; ì´ë¯¸ ë² ìŠ¤íŒ…ëœ ì˜µì…˜ì€ ì¢…ë£Œ í›� 2ë…� ë˜ëŠ” ì›ëž˜ 만기ì� ì¤� 빠른 시ì ê¹Œì§€ 행사 ê°€ëŠ�.
  • ê³„íš ìˆ˜ì •: 2025ë…� 8ì›� 1ì¼ë¶€ë¡� 발효ë� Amended and Restated Severance Planì€ ìžê²© 있는 Change of Control ë°œìƒ ì‹� CEOì—게 목표 ë³´ë„ˆìŠ¤ì˜ 150%ì—� 해당하는 ì§€ê¸‰ì„ ì¶”ê°€í•˜ê³ , 2018 Inducement Award Planì€ ì¸ì„¼í‹°ë¸Œ 부여용으로 11,000,000주를 추가하ë„ë¡� 개정ë˜ì—ˆìŠµë‹ˆë‹�.
  • ì¦ë¹™ 서류: ê³ ìš© 계약ì„�(Exhibit 10.1), 수정ë� Severance Plan(Exhibit 10.2), 수정ë� 2018 Inducement Plan(Exhibit 10.3).

Événement : Geron Corporation (GERN) a déposé un 8-K signalant la nomination de Harout Semerjian au poste de président, directeur général et administrateur, à compter du 7 août 2025.

  • Nomination du PDG : M. Semerjian remplace Dawn C. Bir et occupera un siège de conseil de classe I jusqu'à l'assemblée générale annuelle de 2027.
  • Rémunération : Salaire de base annuel 800 000 $ ; prime annuelle cible 70 % du salaire de base (au prorata pour 2025).
  • Attribution d'actions : Attribution d'options portant sur 11 000 000 d'actions en vertu du 2018 Inducement Award Plan ; prix d'exercice = cours de clôture Nasdaq à la date de prise de fonction/attribution.
  • Vesting : 7 000 000 d'options : 12,5 % à six mois puis acquisition mensuelle sur 42 mois ; 4 000 000 d'options : 25 % à un an puis acquisition mensuelle sur 36 mois ; acquisition intégrale en cas de changement de contrôle.
  • Indemnités de départ : En cas de cessation couverte : prime cible proratisée, somme forfaitaire équivalente à 18 mois de salaire de base, COBRA jusqu'à 18 mois ; les options acquises restent exerçables jusqu'au premier des deux termes : deux ans après la cessation ou l'expiration initiale.
  • Modifications des plans : L'Amended and Restated Severance Plan, effectif au 1er août 2025, ajoute un paiement au PDG égal à 150 % de la prime cible en cas de Change of Control qualifiant ; le 2018 Inducement Award Plan a été modifié pour ajouter 11 000 000 d'actions destinées aux attributions d'inducement.
  • Pièces jointes : Contrat de travail (Exhibit 10.1), Amended Severance Plan (Exhibit 10.2), 2018 Inducement Plan modifié (Exhibit 10.3).

Ereignis: Geron Corporation (GERN) reichte ein 8-K ein und meldete die Ernennung von Harout Semerjian zum Präsidenten, Chief Executive Officer und Direktor, wirksam ab dem 7. August 2025.

  • CEO-Ernennung: Herr Semerjian tritt die Nachfolge von Dawn C. Bir an und besetzt eine Class-I-Aufsichtsratssitz bis zur jährlichen Hauptversammlung 2027.
  • ³Õ±ð°ù²µÃ¼³Ù³Ü²Ô²µ: Jahresgrundgehalt $800.000; jährliche Zielbonus 70% des Grundgehalts (für 2025 anteilig).
  • Aktienanreiz: Gewährung von Aktienoptionen zum Kauf von 11.000.000 Aktien im Rahmen des 2018 Inducement Award Plan; Ausübungspreis = Nasdaq-Schlusskurs am Beginn/Tag der Gewährung.
  • Vesting: 7.000.000 Optionen: 12,5% nach sechs Monaten, dann monatlich über 42 Monate; 4.000.000 Optionen: 25% nach einem Jahr, dann monatlich über 36 Monate; vollständige Vesting bei Change in Control.
  • Abfindung: Bei abgedeckter Beendigung: anteiliger Zielbonus, Einmalzahlung in Höhe von 18 Monatsgrundgehältern, COBRA bis zu 18 Monate; bereits unverfallbare Optionen bleiben bis zum früheren Zeitpunkt von zwei Jahren nach Beendigung oder dem ursprünglichen Verfallsdatum ausübbar.
  • ±Ê±ô²¹²Ôä²Ô»å±ð°ù³Ü²Ô²µ±ð²Ô: Das Amended and Restated Severance Plan mit Wirkung zum 1. August 2025 fügt eine CEO-Zahlung in Höhe von 150% des Zielbonus im Falle eines qualifizierenden Change of Control hinzu; der 2018 Inducement Award Plan wurde geändert, um 11.000.000 Aktien für Inducement-Zuteilungen hinzuzufügen.
  • Anlagen: Arbeitsvertrag (Exhibit 10.1), geänderter Severance Plan (Exhibit 10.2), geänderter 2018 Inducement Plan (Exhibit 10.3).
Positive
  • Experienced CEO appointment: Harout Semerjian brings commercial and hematology experience from Novartis, Ipsen and GlycoMimetics.
  • Clear compensation terms: Base salary ($800,000), target bonus (70%) and detailed severance provisions are disclosed.
  • Retention and alignment: Large inducement option grant with multi-year vesting schedules and full vesting on Change in Control align long-term incentives.
  • Formal plan amendments: Inducement award plan and severance plan changes are documented and filed as exhibits.
Negative
  • Potential dilution: Grant of 11,000,000 stock options and corresponding 11,000,000 share increase to the inducement plan increase potential share count and dilution.
  • Generous severance/CIC protections: 18 months salary plus additional 150% of target bonus upon Change in Control for CEO could be costly to shareholders.
  • Materiality not quantified: Filing does not disclose current total shares outstanding or the exercise price (will equal closing price on start date), limiting immediate assessment of dilution magnitude.

Insights

TL;DR: New CEO hire with detailed employment, equity inducement and enhanced severance terms; governance implications on dilution and change-in-control protections.

The Board appointed Harout Semerjian effective August 7, 2025, with a documented employment agreement and indemnification agreement. The filing discloses a large inducement option grant (11,000,000 shares) and amendments to the severance and inducement plans. Material governance points: (i) the option grant is expressly a Nasdaq Rule 5635(c)(4) inducement award and the inducement plan reserve is increased accordingly; (ii) the Amended Severance Plan and the Employment Agreement provide enhanced change-in-control and severance protections (notably 18 months salary and additional 150% target bonus in a CIC for the CEO). These terms are significant for shareholders due to potential dilution and post-termination payouts, and should be monitored alongside outstanding share counts and potential future disclosures on option pricing and run-rate compensation.

TL;DR: Commercially experienced CEO recruited with market-level cash pay and front-loaded option inducements tied to service and CIC protections.

Mr. Semerjian’s background in commercial leadership (Novartis, Ipsen, GlycoMimetics) aligns with Geron’s stated rationale for his appointment. The employment package combines a $800,000 base, 70% target bonus and a sizable 11,000,000 option grant with staggered vesting and full CIC vesting—typical for senior biotech CEO inducements but large in absolute share terms. Severance terms (18 months salary, prorated bonus, 18 months COBRA) and the amended plan’s 150% bonus on CIC materially enhance downside protections for the CEO. From a compensation design perspective, the structure mixes retention through graded vesting and protection via CIC vesting; investors should weigh retention benefits against share reserve expansion and potential dilution.

Evento: Geron Corporation (GERN) ha depositato un 8-K segnalando la nomina di Harout Semerjian a Presidente, Amministratore Delegato e amministratore, con effetto dal 7 agosto 2025.

  • Nomina del CEO: Il Sig. Semerjian sostituisce Dawn C. Bir e coprirà una vacanza del consiglio di Classe I fino all'assemblea annuale del 2027.
  • Retribuzione: Salario base annuo $800.000; bonus annuo obiettivo pari al 70% del salario base (prorata per il 2025).
  • Assegnazione azionaria: Concessione di opzioni per acquistare 11.000.000 di azioni ai sensi del 2018 Inducement Award Plan; prezzo di esercizio = prezzo di chiusura Nasdaq alla data di inizio/concessione.
  • Vesting: 7.000.000 di opzioni: 12,5% a sei mesi poi maturazione mensile per 42 mesi; 4.000.000 di opzioni: 25% a un anno poi maturazione mensile per 36 mesi; maturazione integrale in caso di Change in Control.
  • Indennità di fine rapporto: In caso di cessazione coperta: bonus obiettivo proporzionato, pagamento unico pari a 18 mesi di salario base, copertura COBRA fino a 18 mesi; le opzioni già maturate restano esercitabili fino al primo tra due anni dopo la cessazione o la data di scadenza originaria.
  • Modifiche ai piani: L'Amended and Restated Severance Plan, con efficacia dal 1º agosto 2025, aggiunge un pagamento al CEO pari al 150% del bonus obiettivo in caso di un Change of Control qualificante; il 2018 Inducement Award Plan è stato modificato per aggiungere 11.000.000 di azioni per assegnazioni di inducement.
  • Allegati: Contratto di lavoro (Allegato 10.1), Severance Plan emendato (Allegato 10.2), 2018 Inducement Plan emendato (Allegato 10.3).

Evento: Geron Corporation (GERN) presentó un 8-K informando la designación de Harout Semerjian como Presidente, Director Ejecutivo y miembro del consejo, con efecto a partir del 7 de agosto de 2025.

  • Nombramiento del CEO: El Sr. Semerjian reemplaza a Dawn C. Bir y ocupará una vacante de la Junta de Clase I hasta la junta anual de 2027.
  • °ä´Ç³¾±è±ð²Ô²õ²¹³¦¾±Ã³²Ô: Salario base anual $800,000; bono objetivo anual equivalente al 70% del salario base (prorrateado para 2025).
  • Concesión de acciones: Otorgamiento de opciones para comprar 11,000,000 de acciones bajo el 2018 Inducement Award Plan; precio de ejercicio = precio de cierre de Nasdaq en la fecha de inicio/otorgamiento.
  • Vesting: 7,000,000 de opciones: 12.5% a los seis meses y luego adquisición mensual durante 42 meses; 4,000,000 de opciones: 25% al año y luego adquisición mensual durante 36 meses; adquisición total en caso de Change in Control.
  • Indemnización por terminación: Terminación cubierta: bono objetivo prorrateado, pago único equivalente a 18 meses de salario base, COBRA hasta 18 meses; las opciones ya adquiridas seguirán pudiéndose ejercer hasta el primero de: dos años tras la terminación o la expiración original.
  • Enmiendas a los planes: El Amended and Restated Severance Plan, con vigencia desde el 1 de agosto de 2025, añade un pago al CEO igual al 150% del bono objetivo en caso de un Change of Control calificante; el 2018 Inducement Award Plan se enmendó para añadir 11,000,000 de acciones para concesiones por inducement.
  • Anexos: Contrato de empleo (Anexo 10.1), Severance Plan enmendado (Anexo 10.2), 2018 Inducement Plan enmendado (Anexo 10.3).

사건: Geron Corporation (GERN)ì€ 8-Kë¥� 제출하여 Harout Semerjianì� 2025ë…� 8ì›� 7ì¼ë¶€ë¡� 사장, 최고경ì˜ìž�(CEO) ë°� ì´ì‚¬ë¡� 선임했다ê³� 보고했습니다.

  • CEO ì„ ìž„: Semerjian 씨는 Dawn C. Birë¥� 대신하ë©� 2027ë…� ì—°ë¡€ 주주ì´íšŒê¹Œì§€ í´ëž˜ìŠ� I ì´ì‚¬íš� ê³µì„ì� 채ì›ë‹ˆë‹¤.
  • 보수: ì—°ê°„ 기본ê¸� $800,000; ì—°ê°„ 성과 목표 보너스는 ê¸°ë³¸ê¸‰ì˜ 70% (2025ë…„ì€ ì¼í•  계산).
  • ì£¼ì‹ ì¸ì„¼í‹°ë¸Œ: 2018 Inducement Award Planì—� ë”°ë¼ 11,000,000주를 매수í•� ìˆ� 있는 스톡옵션 ë¶€ì—�; 행사가ê²� = 시작/부여ì¼ì� 나스ë‹� 종가.
  • 베스íŒ�: 7,000,000 옵션: 6개월 ì‹� 12.5% 베스íŒ� í›� 42개월ê°� 매월 베스íŒ�; 4,000,000 옵션: 1ë…� ì‹� 25% 베스íŒ� í›� 36개월ê°� 매월 베스íŒ�; Change in Control ë°œìƒ ì‹� ì „ì•¡ 베스íŒ�.
  • í•´ê³  ì‹� ë³´ìƒ: ì ìš©ë˜ëŠ” 종료ì� 경우: 목표 ë³´ë„ˆìŠ¤ì˜ ë¹„ë¡€ ì§€ê¸�, 기본ê¸� 18ê°œì›”ë¶„ì— í•´ë‹¹í•˜ëŠ” ì¼ì‹œê¸�, COBRA 최대 18개월; ì´ë¯¸ ë² ìŠ¤íŒ…ëœ ì˜µì…˜ì€ ì¢…ë£Œ í›� 2ë…� ë˜ëŠ” ì›ëž˜ 만기ì� ì¤� 빠른 시ì ê¹Œì§€ 행사 ê°€ëŠ�.
  • ê³„íš ìˆ˜ì •: 2025ë…� 8ì›� 1ì¼ë¶€ë¡� 발효ë� Amended and Restated Severance Planì€ ìžê²© 있는 Change of Control ë°œìƒ ì‹� CEOì—게 목표 ë³´ë„ˆìŠ¤ì˜ 150%ì—� 해당하는 ì§€ê¸‰ì„ ì¶”ê°€í•˜ê³ , 2018 Inducement Award Planì€ ì¸ì„¼í‹°ë¸Œ 부여용으로 11,000,000주를 추가하ë„ë¡� 개정ë˜ì—ˆìŠµë‹ˆë‹�.
  • ì¦ë¹™ 서류: ê³ ìš© 계약ì„�(Exhibit 10.1), 수정ë� Severance Plan(Exhibit 10.2), 수정ë� 2018 Inducement Plan(Exhibit 10.3).

Événement : Geron Corporation (GERN) a déposé un 8-K signalant la nomination de Harout Semerjian au poste de président, directeur général et administrateur, à compter du 7 août 2025.

  • Nomination du PDG : M. Semerjian remplace Dawn C. Bir et occupera un siège de conseil de classe I jusqu'à l'assemblée générale annuelle de 2027.
  • Rémunération : Salaire de base annuel 800 000 $ ; prime annuelle cible 70 % du salaire de base (au prorata pour 2025).
  • Attribution d'actions : Attribution d'options portant sur 11 000 000 d'actions en vertu du 2018 Inducement Award Plan ; prix d'exercice = cours de clôture Nasdaq à la date de prise de fonction/attribution.
  • Vesting : 7 000 000 d'options : 12,5 % à six mois puis acquisition mensuelle sur 42 mois ; 4 000 000 d'options : 25 % à un an puis acquisition mensuelle sur 36 mois ; acquisition intégrale en cas de changement de contrôle.
  • Indemnités de départ : En cas de cessation couverte : prime cible proratisée, somme forfaitaire équivalente à 18 mois de salaire de base, COBRA jusqu'à 18 mois ; les options acquises restent exerçables jusqu'au premier des deux termes : deux ans après la cessation ou l'expiration initiale.
  • Modifications des plans : L'Amended and Restated Severance Plan, effectif au 1er août 2025, ajoute un paiement au PDG égal à 150 % de la prime cible en cas de Change of Control qualifiant ; le 2018 Inducement Award Plan a été modifié pour ajouter 11 000 000 d'actions destinées aux attributions d'inducement.
  • Pièces jointes : Contrat de travail (Exhibit 10.1), Amended Severance Plan (Exhibit 10.2), 2018 Inducement Plan modifié (Exhibit 10.3).

Ereignis: Geron Corporation (GERN) reichte ein 8-K ein und meldete die Ernennung von Harout Semerjian zum Präsidenten, Chief Executive Officer und Direktor, wirksam ab dem 7. August 2025.

  • CEO-Ernennung: Herr Semerjian tritt die Nachfolge von Dawn C. Bir an und besetzt eine Class-I-Aufsichtsratssitz bis zur jährlichen Hauptversammlung 2027.
  • ³Õ±ð°ù²µÃ¼³Ù³Ü²Ô²µ: Jahresgrundgehalt $800.000; jährliche Zielbonus 70% des Grundgehalts (für 2025 anteilig).
  • Aktienanreiz: Gewährung von Aktienoptionen zum Kauf von 11.000.000 Aktien im Rahmen des 2018 Inducement Award Plan; Ausübungspreis = Nasdaq-Schlusskurs am Beginn/Tag der Gewährung.
  • Vesting: 7.000.000 Optionen: 12,5% nach sechs Monaten, dann monatlich über 42 Monate; 4.000.000 Optionen: 25% nach einem Jahr, dann monatlich über 36 Monate; vollständige Vesting bei Change in Control.
  • Abfindung: Bei abgedeckter Beendigung: anteiliger Zielbonus, Einmalzahlung in Höhe von 18 Monatsgrundgehältern, COBRA bis zu 18 Monate; bereits unverfallbare Optionen bleiben bis zum früheren Zeitpunkt von zwei Jahren nach Beendigung oder dem ursprünglichen Verfallsdatum ausübbar.
  • ±Ê±ô²¹²Ôä²Ô»å±ð°ù³Ü²Ô²µ±ð²Ô: Das Amended and Restated Severance Plan mit Wirkung zum 1. August 2025 fügt eine CEO-Zahlung in Höhe von 150% des Zielbonus im Falle eines qualifizierenden Change of Control hinzu; der 2018 Inducement Award Plan wurde geändert, um 11.000.000 Aktien für Inducement-Zuteilungen hinzuzufügen.
  • Anlagen: Arbeitsvertrag (Exhibit 10.1), geänderter Severance Plan (Exhibit 10.2), geänderter 2018 Inducement Plan (Exhibit 10.3).
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
___________
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): August 1, 2025
GERON CORPORATION
(Exact name of registrant as specified in its charter)
Delaware000-2085975-2287752
(State or other jurisdiction of
incorporation)
(Commission File Number)(IRS Employer Identification
No.)
919 E. HILLSDALE BLVD., SUITE 250
FOSTER CITY, CALIFORNIA 94404
(Address of principal executive offices, including zip code)
(650) 473-7700
(Registrant’s telephone number, including area code)
N/A
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
oWritten communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
oSoliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
oPre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
oPre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Common Stock, $0.001 par valueGERNThe Nasdaq Stock Market LLC
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company o
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o





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Item 5.02             Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On August 1, 2025, the Board of Directors (the “Board”) of Geron Corporation (the “Company”), upon the recommendation of the Nominating and Corporate Governance Committee of the Board (the “Nominating and Corporate Governance Committee”), appointed Harout Semerjian as President and Chief Executive Officer of the Company and as a director, effective August 7, 2025 (the “Effective Date”). On the Effective Date, Mr. Semerjian will be appointed to the Board to fill the existing vacancy as a Class I director for a term expiring at the Company’s 2027 annual meeting of stockholders. Mr. Semerjian replaces Dawn C. Bir, who ceased serving as Interim President and Chief Executive Officer of the Company immediately prior to Mr. Semerjian’s appointment. Ms. Bir will continue to serve as a member of the Board.

Mr. Semerjian, age 54, most recently served as President and Chief Executive Officer of GlycoMimetics, Inc., a late-stage clinical biotechnology company subsequently combined with Crescent Biopharma, Inc., from August 2021 until February 2025. He also previously served on the board of directors of GlycoMimetics. Since October 2023, Mr. Semerjian has also served as a member of the board of directors at the Biotechnology Innovation Organization. From June 2020 to July 2021, Mr. Semerjian served as an independent healthcare consultant at Emerge Bio Consulting, advising private equity firms on healthcare investment projects. Mr. Semerjian served as President and Chief Executive Officer of Immunomedics Inc., a biotechnology company specializing in antibody-drug conjugates for cancer treatment, from April 2020 to May 2020, prior to its acquisition by Gilead Sciences, Inc. From March 2018 to April 2020, Mr. Semerjian served as Executive Vice President, Chief Commercial Officer of Ipsen Pharma, a global, pharmaceutical company focusing on areas of high unmet medical need, leading and executing Ipsen’s global commercial strategy and functions across oncology, neurosciences and rare diseases. From February 2017 to February 2018, he served as President and Head of Ipsen’s Specialty Care International Region & Global Franchises. From 1994 to January 2017, Mr. Semerjian held several commercial, marketing and sales positions of increasing responsibility within Novartis Pharmaceuticals, a global pharmaceutical company, including serving as Senior Vice President and Global Launch Leader for KISQALI®, in regional vice president hematology and oncology roles in the U.S., MENA and the Nordics, and as global brand director for Gleevec®, as well as for Merck, a global pharmaceutical company, and Solvay, a multinational chemical and materials company. Mr. Semerjian holds an MBA from Cornell University and Queen's University in Canada, and a B.S. in Biology from Lebanese American University. The Board believes Mr. Semerjian’s deep commercial and hematology expertise, broad leadership experience, and global perspective qualify him to serve on the Board.

In connection with Mr. Semerjian’s appointment as the Company’s President and Chief Executive Officer, the Board, acting upon the recommendation of the Compensation Committee of the Board (the “Compensation Committee”), approved the Company’s entry into an employment agreement with Mr. Semerjian, effective as of the Effective Date (the “Employment Agreement”). The Employment Agreement provides for an annual base salary of $800,000 and an annual performance target bonus of 70% of his annual base salary, which will be prorated for 2025. In addition, the Company has agreed to grant Mr. Semerjian a stock option to purchase 11,000,000 shares of the Company’s common stock (the “Stock Options”) pursuant to the Company’s 2018 Inducement Award Plan (as defined below). The Stock Options will vest and become exercisable as follows: (i) 7,000,000 of the Stock Options will vest as to 12.5% of the shares underlying the grant on the six-month anniversary of the grant date, with the remaining shares vesting in equal monthly installments over the following 42 months; and (ii) 4,000,000 of the Stock Options will vest as to 25% of the shares underlying the grant on the first anniversary of the grant date, with the remaining shares vesting in equal monthly installments over the following 36 months, in each case subject to Mr. Semerjian’s continued service to the Company on the vesting dates. The Stock Options will be granted as a material inducement to Mr. Semerjian’s employment under the Company’s 2018 Inducement Award Plan and will have an exercise price equal to the closing price of the Company’s common stock on the Nasdaq Global Select Market on his start date, which will be the grant date. The Stock Options will fully vest upon the occurrence of a Change in Control (as defined in the Employment Agreement). Under the terms of the Employment Agreement, Mr. Semerjian is not eligible for an annual equity award until 2027.

The Employment Agreement also provides that Mr. Semerjian is entitled to severance benefits consistent with the Company’s other executive officers. In the event Mr. Semerjian’s employment is terminated due to a Covered Termination (as defined in the Employment Agreement), (i) he will be paid his target annual bonus for the fiscal year in which the termination occurs, prorated for length of service during the year, and a lump-sum severance payment equal to 18 months of his base salary then in effect as of such termination; (ii) he and his covered dependents will also be eligible to continued healthcare coverage as permitted by COBRA for a period of up to 18 months following a Covered Termination, at the Company’s expense; and (iii) the vested portion of any stock options granted to Mr. Semerjian by the Company shall remain outstanding and exercisable until the earlier of the second anniversary of the date of termination or the original
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expiration date of such award. Mr. Semerjian is also eligible to participate in the Amended Severance Plan (as defined below).

The foregoing description of the Employment Agreement is a summary of its material terms, does not purport to be complete and is qualified in its entirety by reference to the full text of the Employment Agreement, which is attached hereto as Exhibit 10.1 and is incorporated herein by reference.

There is no arrangement or understanding between Mr. Semerjian and any other person pursuant to which Mr. Semerjian was appointed as President, Chief Executive Officer and a director of the Company, and there is no family relationship between Mr. Semerjian and any of the Company’s other directors or executive officers. In addition, Mr. Semerjian is not party to any transaction, or series of transactions, required to be disclosed pursuant to Item 404(a) of Regulation S-K.

In connection with his appointment, the Company and Mr. Semerjian will enter into the Company’s standard form of indemnification agreement. Pursuant to the terms of the indemnification agreement, the Company may be required, among other things, to indemnify Mr. Semerjian for certain expenses, including attorneys’ fees, judgments, fines and settlement amounts incurred by him in any action or proceeding arising out of his service as President, Chief Executive Officer and a director of the Company. The foregoing is only a brief description of the terms of the indemnification agreement with Mr. Semerjian, does not purport to be complete and is qualified in its entirety by reference to the form of indemnification agreement, previously filed as Exhibit 10.1 to the Company’s Annual Report on Form 10-K for the year ended December 31, 2011, as filed on March 7, 2012.

Amended and Restated Severance Plan

Effective August 1, 2025, the Compensation Committee approved the Company’s Amended and Restated Severance Plan (as so amended and restated, the “Amended Severance Plan”), which Amended Severance Plan amends and restates, in its entirety, the amended and restated severance plan previously approved by the Board on December 23, 2021. The Amended Severance Plan applies to (i) eligible employees of the Company who were hired by the Company on or before December 31, 2021, and (ii) certain designated key employees of the Company, including the Company’s executive officers, in each case, who are not subject to a performance improvement plan. The only change to the existing severance plan is to add a payment to the Chief Executive Officer of 150% of his or her annual target bonus upon a Separation of Service (as defined in the Amended Severance Plan) in connection with a Change of Control (as defined in the Amended Severance Plan), as further described below.

Under the Amended Severance Plan, upon a Change of Control Triggering Event (and provided such Triggering Event constitutes a Separation from Service (as defined therein)), each of the Company’s executive officers, including Mr. Semerjian, is entitled to: (i) a severance payment equal to 15 months (18 months, with respect to Mr. Semerjian) of his or her base salary then in effect; (ii) payment of his or her target annual bonus, at the target bonus percentage in effect immediately prior to the termination, prorated for length of service during the year (plus an additional payment equal to 150% of his target annual bonus, with respect to Mr. Semerjian); and (iii) payment of COBRA premiums for up to 15 months (18 months, with respect to Mr. Semerjian). The Company’s executive officers will continue to receive the greater of the severance benefits set forth in their employment agreements or the severance benefits provided for in the Amended Severance Plan (without duplication).

The foregoing description of the Amended Severance Plan does not purport to be complete and is qualified in its entirety by the full text of the Amended Severance Plan, which is attached hereto as Exhibit 10.2 and is incorporated herein by reference.

Amendment to 2018 Inducement Award Plan

Effective August 1, 2025, the Compensation Committee approved an amendment to the Company’s 2018 Inducement Award Plan to increase the number of shares of the Company’s common stock issuable thereunder by 11,000,000 shares (as so amended and restated, the “Amended 2018 Inducement Plan”) to be used exclusively for grants of inducement awards to individuals who were not previously employees or directors of the Company, other than following a bona fide period of non-employment, as a material inducement within the meaning of Rule 5635(c)(4) of the Nasdaq Listing Rules to each such individual’s entry into employment with the Company.

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The foregoing description of the Amended 2018 Inducement Plan does not purport to be complete and is qualified in its entirety by the full text of the Amended 2018 Inducement Plan, which is attached hereto as Exhibit 10.3 and is incorporated herein by reference.

Item 9.01             Financial Statements and Exhibits.
(d)Exhibits.
Exhibit No.Description
10.1
Employment Agreement by and between the Company and Harout Semerjian, effective August 7, 2025.
10.2
Geron Corporation Amended and Restated Severance Plan, as amended.
10.3
Geron Corporation 2018 Inducement Award Plan, as amended.
104Cover Page Interactive Data File (the cover page XBRL tags are embedded within the Inline XBRL document)
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
GERON CORPORATION
Date: August 6, 2025
By:/s/ Scott A. Samuels
Name:Scott A. Samuels
Title:Executive Vice President,
Chief Legal Officer and
Secretary
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FAQ

Who is the new CEO of Geron (GERN) and when does the appointment take effect?

Harout Semerjian was appointed President and Chief Executive Officer, effective August 7, 2025.

What are the key financial terms of Harout Semerjian’s employment at Geron (GERN)?

The Employment Agreement provides a $800,000 annual base salary and an annual performance target bonus equal to 70% of base salary (prorated for 2025).

What equity compensation did Geron (GERN) grant to the new CEO?

Geron will grant options to purchase 11,000,000 shares under the 2018 Inducement Award Plan; vesting: 7,000,000 (12.5% at 6 months then monthly over 42 months) and 4,000,000 (25% at 1 year then monthly over 36 months); full vest on Change in Control.

What severance protections does the CEO receive under Geron’s agreements?

For a Covered Termination the CEO is entitled to a prorated target bonus, a lump-sum severance equal to 18 months of base salary, COBRA healthcare coverage for up to 18 months, and extended exercisability of vested options for up to two years (subject to original expiration).

What plan amendments were approved by Geron’s Compensation Committee on August 1, 2025?

The Compensation Committee approved an Amended and Restated Severance Plan adding a CEO payment equal to 150% of target bonus upon a qualifying Change of Control and amended the 2018 Inducement Award Plan to increase the share reserve by 11,000,000 shares for inducement grants.
Geron Corp

NASDAQ:GERN

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885.32M
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Biotechnology
Pharmaceutical Preparations
United States
FOSTER CITY