Management ChangeApr 29, 2026, 01:09 PM
XBIT Amends 10-K; Simard Retires as CEO, Shivaswamy Interim CEO
AI Summary
XBiotech Inc. filed an amendment to its 2025 Form 10-K to include previously omitted Part III information regarding corporate governance and executive compensation. John Simard retired as President and CEO on December 8, 2025, and Dr. Sushma Shivaswamy was appointed Interim Chief Executive Officer on the same date. The filing details 2025 compensation for named executive officers and updates on board composition and committee memberships.
Key Highlights
- John Simard retired as President & CEO on December 8, 2025, continuing as Chairman.
- Dr. Sushma Shivaswamy appointed Interim Chief Executive Officer on December 8, 2025.
- John Simard's total compensation for 2025 was $30,134,204, including $17,341,326 severance.
- Dr. Sushma Shivaswamy's 2025 total compensation was $570,992; salary increased to $750,000 as Interim CEO.
- Angela Hu's 2025 total compensation was $245,419.
- Dr. Thomas Kündig and Craig Rademaker appointed to the Board of Directors on June 24, 2025.
- The Board of Directors met twice during 2025.
- Company adopted an Insider Trading Policy prohibiting hedging and pledging of company securities.