Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On
Dr. Borade has 14 years of equity statistical arbitrage experience. He is
currently Deputy Head of Quantitative Investments at Vatic Investments
("Vatic"). Dr. Borade's team (an international collaboration across
statisticians and physicians) was a finalist in the XPRIZE for scaling up
COVID-19 testing. Prior to joining Vatic, Dr. Borade was a Portfolio Manager at
Engineers Gate, where he led the design and implementation of a medium frequency
research and trading system in global equities. Previously, he was a
Vice-President in the equity statistical arbitrage group at
Dr. Borade will participate in the non-employee director compensation arrangements generally applicable to all of the Company's non-employee directors.
In connection with the appointment, the Company and Dr. Borade will enter into a
deed of indemnity, the form of which was filed with the
There are no arrangements or understandings pursuant to which Dr. Borade was selected as a director. Dr. Borade does not have a direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.
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