DBV Technologies Enhances Severance Benefits for Executive Officers

DBV Technologies, a biopharmaceutical company based in France, made significant changes to the severance benefits of its executive officers in a recent 8-K filing with the Securities and Exchange Commission. The adjustments aim to provide enhanced compensation to key personnel following a Change in Control event.

Chief Medical Officer Pharis Mohideen and Chief Financial Officer Virginie Boucinha are the primary beneficiaries of these amendments. The enhancements in the agreements include substantial severance benefits in the event of their termination under specific circumstances within twelve months following a Change in Control event.

For Mohideen, the revised agreement grants him severance benefits equivalent to his base salary for twenty-four months plus an additional sum equal to one times his Annual Bonus, subject to certain conditions. Additionally, any surviving equity awards will be compensated through a lump-sum cash bonus if their vesting is not accelerated post the Change in Control event.

In Boucinha’s case, she would receive an amount equal to 12 months of gross remuneration in the event of her termination, along with other applicable payments such as statutory severance, holiday compensation, and notice period compensation. The remuneration used for this calculation is based on Boucinha’s base salary at the time of termination.

Both agreements outline that the enhanced severance benefits are subject to the executives meeting specific requirements, including timely execution of separation agreements and continued compliance with their obligations to the company.

The details of the Mohideen Agreement and the Boucinha Agreement are provided in the 8-K filing, with full texts and English translations attached as exhibits.

These amendments reflect the company’s commitment to providing competitive compensation packages to its executive leadership, ensuring retention and stability during transitional periods. The changes come into effect immediately following the signing of the agreements on December 16, 2024.

For more information on these agreements, investors can refer to the complete filing on the Securities and Exchange Commission’s website. The company’s dedication to aligning executive compensation with business goals and performance remains apparent through these amendments.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read DBV Technologies’s 8K filing here.

DBV Technologies Company Profile

DBV Technologies SA, a clinical-stage biopharmaceutical company, engages in the research and development of epicutaneous immunotherapy products. Its product pipeline comprising Viaskin Peanut, an immunotherapy product, which has completed Phase 3 clinical trial for the treatment of peanut allergies; and Viaskin Milk which is in Phase 1/2 clinical trial for the treatment of immunoglobulin E (IgE) mediated or cow’s milk protein allergy and eosinophilic esophagitis.