Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
Effective January 5, 2023 (the "Separation Date"), Leslie Sloan will no longer
serve as Chief Operating Officer of Aeglea BioTherapeutics, Inc. (the
"Company"). Dr. Sloan's departure is not related to any legal, compliance or
other matters of the Company.
Subject to Dr. Sloan's execution of a general release of claims, and in
accordance with the terms of her Severance Agreement with the Company, Dr. Sloan
will be entitled to receive the following benefits: (i) a severance payment of
$435,000, equal to twelve (12) months of her annual salary; (ii) a lump sum
bonus payment of $174,000; (iii) payment of COBRA premiums to maintain group
healthcare coverage as in effect on the Separation Date for twelve (12) months;
and (iv) acceleration of vesting of Dr. Sloan's outstanding option awards with
respect to the number of shares that would have vested if Dr. Sloan had remained
in service through an additional twelve (12) months beyond the Separation Date.
The foregoing description of the Severance Agreement is qualified in its
entirety by reference to the complete text of the Severance Agreement, a copy of
which is filed as exhibit 10.18 to the Company's Annual Report on 10-K for the
year ended December 31, 2021.
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