Moncef Slaoui joins Vaxcyte (NASDAQ: PCVX) board as director
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
Vaxcyte, Inc. announced a planned change on its board of directors. On June 17, 2026, long‑serving director Jacks Lee retired from the board, with the company stating his retirement was not due to any disagreement or dispute. He will continue to support Vaxcyte under a consulting agreement focused on global strategic supply and manufacturing operations.
That same day, the board appointed Moncef Slaoui as a Class II independent director, effective immediately, with a term running until the 2028 annual stockholder meeting. He qualifies as an independent director under Nasdaq Rule 5605(a)(2), and the company reports no related‑party transactions requiring disclosure. Slaoui will be compensated under Vaxcyte’s non‑employee director compensation program, which currently sets the equivalent value of the annual equity grant for each director at $430,000, and he has entered into the company’s standard indemnification agreement.
Positive
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Negative
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8-K Event Classification
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
1 item
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Key Figures
Par value per share: $0.001 per share
Annual equity grant value: $430,000
Director term end: 2028
+2 more
5 metrics
Par value per share
$0.001 per share
Common Stock par value
Annual equity grant value
$430,000
Equivalent value of annual equity grant for each director
Director term end
2028
Moncef Slaoui’s Class II director term expires at 2028 annual meeting
Retirement effective date
June 17, 2026
Effective date of Jacks Lee’s retirement from the board
Appointment effective date
June 17, 2026
Effective date of Moncef Slaoui’s appointment to the board
Key Terms
independent director, Rule 5605(a)(2), Item 404(a) of Regulation S-K, non-employee director compensation program, +1 more
5 terms
independent director financial
"The Board has determined that Dr. Slaoui qualifies as an independent director under the independence requirements"
An independent director is a member of a company's board of directors who is not involved in the company's day-to-day operations and has no significant relationships with the company that could influence their judgment. Their role is to provide unbiased oversight and ensure the company is managed in the best interests of all shareholders. This helps build trust and confidence among investors by promoting transparency and accountability.
Rule 5605(a)(2) regulatory
"independent director under the independence requirements set forth under Rule 5605(a)(2) of the Nasdaq Rules"
Item 404(a) of Regulation S-K regulatory
"there are no transactions involving the Company and Dr. Slaoui that the Company would be required to report pursuant to Item 404(a) of Regulation S-K"
non-employee director compensation program financial
"Dr. Slaoui will receive compensation in accordance with the Company’s non-employee director compensation program"
indemnification agreement legal
"The Company has entered into its standard form of indemnification agreement with Dr. Slaoui."
An indemnification agreement is a contract in which one party promises to cover losses, costs, or legal claims that another party might face, acting like a tailored safety net or private insurance policy. For investors, it matters because such agreements shift potential financial risk away from a company or its officers and onto the indemnifier, which can affect a company’s future liabilities, cash flow and how risky the investment appears during deal-making or litigation.
FAQ
What board changes did Vaxcyte (PCVX) disclose on June 17, 2026?
Vaxcyte disclosed that director Jacks Lee retired from its board effective June 17, 2026. On the same date, the board appointed Moncef Slaoui as a Class II director, with his term running until the company’s 2028 annual meeting of stockholders.
Why did Vaxcyte director Jacks Lee retire from the board?
Vaxcyte stated that Jacks Lee’s retirement from the board was not the result of any disagreement or dispute with the company. Following his retirement, he entered into a consulting agreement to advise on global strategic supply and manufacturing operations.
Who is Moncef Slaoui and what role will he have at Vaxcyte (PCVX)?
Moncef Slaoui has been appointed as a Class II director on Vaxcyte’s board, effective June 17, 2026. His term will extend until the 2028 annual stockholder meeting, and the board has determined he qualifies as an independent director under Nasdaq rules.
Is Moncef Slaoui considered an independent director at Vaxcyte?
Yes. Vaxcyte’s board determined that Moncef Slaoui qualifies as an independent director under the independence requirements in Nasdaq Rule 5605(a)(2). The company also reported no transactions with him that require disclosure under Item 404(a) of Regulation S‑K.
How will Vaxcyte compensate new director Moncef Slaoui?
Moncef Slaoui will be compensated under Vaxcyte’s non‑employee director compensation program. The company notes that the equivalent value of the annual equity grant for all directors is currently set at $430,000, and he has also signed the standard indemnification agreement.