ADC Therapeutics grants retention awards to CEO, CFO, CMO
The board approved one-time cash and RSU retention awards on June 30, 2026, for Ameet Mallik, Jose Carmona, and Mohamed Zaki, with vesting tied to continued employment through June 30, 2027.
ADC Therapeutics SA disclosed in a Form 8-K that on June 30, 2026, its board of directors, with advice from its independent compensation consultant, approved one-time retention awards to certain employees including named executive officers1.
The awards break down by executive. Chief Executive Officer Ameet Mallik received a cash incentive award of $1,795,500 and 675,000 RSUs. Chief Financial Officer Jose Carmona received $541,842 in cash and 203,700 RSUs. Chief Medical Officer Mohamed Zaki received $568,974 in cash and 213,900 RSUs.1
The terms of the awards are set out in separate agreements. The awards were granted under incentive award letter agreements that specify the terms and conditions for each executive.1
On the cash component, the cash portion is scheduled to be paid on or about July 15, 2026, and must be repaid if the executive's employment ends before June 30, 20271. However, that repayment requirement does not apply if the company terminates the executive without cause, or if the executive resigns for what the agreement defines as good reason1.
For the RSUs, the award was granted on June 30, 2026, and will vest at the earlier of June 30, 2027, or a qualifying termination without cause or for good reason, provided the executive remains employed through the vesting date1.
The company noted that the full incentive award agreements will be filed as exhibits to its Form 10-Q for the quarter ended June 30, 20261. The filing was signed by Peter J. Graham, Chief Legal Officer, on July 2, 20261.
Written by readthrough’s AI from the linked primary sources and fact-checked against them automatically before publishing. Not investment advice.