Innoviva names Stephen Basso chief financial officer, effective August 21, 2023
Innoviva, Inc. announced that Stephen Basso has been appointed Chief Financial Officer, effective August 21, 2023. Basso previously served as CFO and Chief Operating Officer at Cybrexa Therapeutics and has more than 30 years of financial services and pharmaceutical industry experience, and the filing discloses his offer terms, including a $450,000 base salary, a 40% target bonus and an initial option grant of 150,000 shares subject to board approval.
- Effective date of August 21, 2023; appointment announced August 25, 2023 in an 8-K and press release
- Base salary of $450,000 and annual discretionary bonus with a 40% target of base salary
- Initial grant of options to purchase 150,000 shares, subject to Board or Compensation Committee approval, plus a one-time $100,000 signing bonus
- If terminated without cause or for good reason, 12 months of base salary continuation and accelerated vesting of unvested options if within 12 months after a change in control