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Century Therapeutics (IPSC) shifts Chief Scientific Officer to part-time role with new pay terms

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(Moderate)
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(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Century Therapeutics, Inc. updated the employment terms for its Chief Scientific Officer, Chad Cowan, Ph.D., through an Amended and Restated Employment Agreement. Under this new arrangement, he will continue serving as Chief Scientific Officer on a part-time basis with a reduced annual salary of $296,150.

Dr. Cowan will remain eligible for an annual performance-based target bonus, calculated on a pro-rated basis to reflect his part-time role. If his employment ends through termination by the company or his resignation, he will receive all accrued and unpaid base salary through his final date of employment.

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Annual base salary $296,150 Part-time Chief Scientific Officer compensation under amended agreement
Amended and Restated Employment Agreement financial
"entered into an Amended and Restated Employment Agreement (the “A&R Agreement”)"
performance-based target bonus financial
"eligible for an annual performance-based target bonus on a pro-rated basis"
emerging growth company regulatory
"Emerging growth company x"
An emerging growth company is a recently public or smaller public firm that qualifies for temporary, lighter regulatory and disclosure rules to reduce the cost and effort of being public. For investors, it means the company may provide less historical financial detail and face fewer reporting requirements than larger firms, so it can grow more quickly but also carries higher uncertainty—like buying a promising early-stage product with fewer user reviews.
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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

 

 

 

FORM 8-K

 

 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): June 15, 2026

 

 

 

Century Therapeutics, Inc.

(Exact name of registrant as specified in its charter)

 

 

 

Delaware   001-40498   84-2040295
(State or other jurisdiction of
incorporation or organization)		   (Commission File Number)   (I.R.S. Employer
Identification No.)

 

25 North 38th Street, 11th Floor

Philadelphia, Pennsylvania

  19104
(Address of principal executive offices)   (Zip Code)

 

Registrant’s telephone number, including area code: (267) 817-5790

 

Not Applicable

(Former name or former address, if changed since last report)

 

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of Each Class   Trading Symbol   Name of Exchange on Which Registered
Common Stock, par value $0.0001 per share   IPSC   Nasdaq Capital Market

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company x

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

 

 

 

 

 

Item 5.02    Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

 

On June 15, 2026, Century Therapeutics, Inc. (the “Company”) entered into an Amended and Restated Employment Agreement (the “A&R Agreement”) with Chad Cowan, Ph.D., the Company’s Chief Scientific Officer. Pursuant to the A&R Agreement, Dr. Cowan will continue as the Company’s Chief Scientific Officer on a part-time basis, at a reduced annual salary of $296,150 and will be eligible for an annual performance-based target bonus on a pro-rated basis. In the event of termination of Dr. Cowan’s employment by the Company or Dr. Cowan’s resignation from the Company, Dr. Cowan will be entitled to all accrued and unpaid base salary through the date of cessation of his employment.

 

The foregoing description of the A&R Agreement does not purport to be complete and is qualified in its entirety by reference to the A&R Agreement, which will be filed as an exhibit to the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2026.

 

 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

  CENTURY THERAPEUTICS, INC.
     
  By: /s/ Brent Pfeiffenberger, Pharm.D., M.B.A.
  Name: Brent Pfeiffenberger, Pharm.D., M.B.A.
  Title: President, Chief Executive Officer and Chairman of the Board of Directors

 

Date: June 16, 2026

 

 

 

Source: View Original Filing on SEC EDGAR

FAQ

What change did Century Therapeutics (IPSC) make regarding its Chief Scientific Officer?

Century Therapeutics entered into an Amended and Restated Employment Agreement with Chief Scientific Officer Chad Cowan, Ph.D. He will continue in the role on a part-time basis with updated compensation and bonus terms.

What is Chad Cowan’s new salary under the Century Therapeutics (IPSC) agreement?

Under the amended agreement, Chad Cowan’s annual salary is set at $296,150. This reflects his transition to a part-time Chief Scientific Officer role while maintaining eligibility for a performance-based, pro-rated annual target bonus.

Does the Century Therapeutics (IPSC) Chief Scientific Officer still receive a bonus opportunity?

Yes, Chad Cowan remains eligible for an annual performance-based target bonus. The bonus will be calculated on a pro-rated basis, aligning with his part-time service as Chief Scientific Officer under the amended employment agreement.

What payments is Chad Cowan entitled to upon leaving Century Therapeutics (IPSC)?

If Chad Cowan’s employment ends through termination by Century Therapeutics or his resignation, he is entitled to receive all accrued and unpaid base salary earned through the date his employment with the company ceases.

Where can investors find the full Amended and Restated Employment Agreement for Century Therapeutics (IPSC)?

The full Amended and Restated Employment Agreement with Chad Cowan will be filed as an exhibit to Century Therapeutics’ Quarterly Report on Form 10-Q for the quarter ended June 30, 2026, providing complete contractual details.

Filing Exhibits & Attachments

3 documents

Other Documents