SGMO names Nikunj Jain principal accounting officer; CFO to part-time with retention bonus

Rhea-AI Filing Summary

Sangamo Therapeutics disclosed that its Chief Financial Officer, Prathyusha Duraibabu, resigned effective October 1, 2025 and will transition to part-time employment to continue as the company’s principal financial officer. The Board appointed Nikunj Jain, Vice President, Finance and Corporate Controller since September 2021, to serve as Sangamo’s principal accounting officer effective October 1, 2025. Mr. Jain’s employment agreement provides a $347,548 annual base salary and a target annual cash bonus equal to 30% of base salary; he remains eligible for annual equity awards and severance benefits under the company plans. Ms. Duraibabu’s amended agreement is expected to provide a $145,188 base salary and a $160,000 cash retention bonus payable January 31, 2026, subject to continued employment.

Positive

• Internal succession: Promotion of an experienced, internal Controller (Nikunj Jain) supports continuity in accounting leadership.
• Detailed compensation disclosed: Clear terms for base salary ($347,548) and bonus target (30%) reduce uncertainty about immediate cost impact.
• Retention measures: Part-time transition and $160,000 retention bonus for the outgoing CFO aim to preserve institutional knowledge during handover.

Negative

• Leadership change: Resignation of the full-time CFO represents a change in senior finance leadership which could pose transitional risk.
• Material agreement pending: Full employment agreements are not yet filed in the report; readers must wait for exhibits for complete terms.

Insights

Financial Analyst

TL;DR: Internal promotion ensures accounting continuity; compensation terms are modest and align incentives but are not transformational.

The appointment of Nikunj Jain as principal accounting officer is an internal succession that reduces execution risk versus an external hire, leveraging his four-year tenure as Controller. The disclosed cash compensation ($347,548 base with a 30% bonus target) and continued equity eligibility are standard for a senior accounting executive and signal retention rather than expansion of cost structure. The transition of the former CFO to part-time with a $160,000 retention bonus through January 31, 2026 helps preserve institutional knowledge during handover. Overall, this is a routine governance and personnel update with limited near-term financial impact.

Corporate Governance Expert

TL;DR: Governance practices appear orderly: internal promotion, disclosure of compensation, and transitional arrangements documented.

Management followed standard governance protocols by notifying the Board, disclosing the appointment and material terms, and confirming no related-party issues or reportable transactions under Item 404(a). The use of employment and severance plans already described in the proxy supports consistency with prior corporate governance disclosures. The expected filing of the full agreements as exhibits will provide required transparency. This disclosure addresses succession and continuity without indicating governance weaknesses.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 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): September 24, 2025

 SANGAMO THERAPEUTICS, INC.

(Exact name of registrant as specified in its charter)

  

Delaware

000-30171

68-0359556

(State or other jurisdiction of incorporation)

(Commission File Number)

(IRS Employer ID Number)

501 Canal Blvd., Richmond, California 94804

(Address of principal executive offices) (Zip Code)

(510) 970-6000

(Registrant’s telephone number, including area code) 

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:

 

☐ 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(s)

Name of each exchange on which registered

Common Stock, $0.01 par value per share

SGMO

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  ☐

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.

As previously disclosed, Prathyusha Duraibabu resigned from her position as Chief Financial Officer of Sangamo Therapeutics, Inc. (the “Company”), effective October 1, 2025 (the “Transition Date”), and is transitioning to part-time employment with the Company to continue to serve as the Company’s principal financial officer. In connection with Ms. Duraibabu’s departure, on September 24, 2025, the Board of Directors of the Company appointed Nikunj Jain, the Company’s Vice President, Finance and Corporate Controller, to serve as the Company’s principal accounting officer, effective as of the Transition Date. Mr. Jain will assume the role of principal accounting officer from Ms. Duraibabu.

Mr. Jain, age 46, has served as the Company’s Vice President, Finance and Corporate Controller since September 2021. Prior to joining the Company, Mr. Jain served as Executive Director, Assistant Controller at Coherus Biosciences, Inc., a commercial-stage oncology company, from November 2019 to September 2021. Earlier in his career, Mr. Jain held roles of increasing responsibility at Deloitte & Touche LLP in both the United States and India. Mr. Jain received a Bachelor of Commerce degree from Mahatma Jyotibha Phule Rohilkhand University in Bareilly, India, and is a Chartered Accountant in India and a Certified Public Accountant in California (inactive).

There is no arrangement or understanding between Mr. Jain and any other person pursuant to which Mr. Jain was appointed as principal accounting officer of the Company, and there are no family relationships between Mr. Jain and any of the Company’s directors or executive officers. Mr. Jain has no direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.

In connection with Mr. Jain’s appointment, the Company has entered into an employment agreement with Mr. Jain (the “Jain Employment Agreement”) providing for, among other things, an annual base salary of $347,548, continued eligibility to receive an annual cash bonus under the Company’s Amended and Restated Incentive Compensation Plan (the “Incentive Plan”) with a target of 30% of his annual base salary, and continued eligibility to receive future equity awards under the Company’s Amended and Restated 2018 Equity Incentive Plan on an annual basis. In addition, Mr. Jain will continue to be eligible to receive certain severance benefits under the Company’s Amended and Restated Executive Severance Plan (the “Severance Plan”).

In connection with Ms. Duraibabu’s transition to part-time employment, the Company expects to enter into an amended and restated employment agreement with Ms. Duraibabu (the “Duraibabu Employment Agreement”) providing for, among other things, an annual base salary of $145,188 and a cash retention bonus of $160,000, payable on January 31, 2026, subject to her continued employment through such date (or subject to her termination earlier than this date other than for cause). Ms. Duraibabu will continue to be eligible to receive certain severance benefits under the Severance Plan, but only such benefits arising in the event of a Change of Control (as defined in the Severance Plan) occurring during her employment with the Company.

The Severance Plan and the Incentive Plan are each described under the heading “Executive Compensation” in the Company’s definitive proxy statement on Schedule 14A, filed with the Securities and Exchange Commission on April 30, 2025. The foregoing descriptions of the Jain Employment Agreement and the Duraibabu Employment Agreement are only summaries and are qualified in their entirety by the Jain Employment Agreement and the Duraibabu Employment Agreement, respectively, copies of which will be filed as exhibits to the Company’s Quarterly Report on Form 10-Q for the Quarter ending September 30, 2025.

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.

 

SANGAMO THERAPEUTICS, INC.

Dated: September 30, 2025

By:

/s/ SCOTT B. WILLOUGHBY

Name:

Scott B. Willoughby

Title:

Chief Legal Officer and Corporate Secretary

FAQ

What change did Sangamo (SGMO) report regarding its finance leadership?

Sangamo reported the CFO, Prathyusha Duraibabu, resigned effective October 1, 2025 and will transition to part-time to remain the principal financial officer; Nikunj Jain was appointed principal accounting officer effective the same date.

What are the compensation terms for the new principal accounting officer at SGMO?

Mr. Jain’s employment agreement provides an annual base salary of $347,548 and eligibility for an annual cash bonus with a 30% target of base salary, plus continued equity award eligibility.

Will the outgoing CFO receive any retention or severance payments?

The outgoing CFO’s amended agreement is expected to provide a base salary of $145,188 and a $160,000 cash retention bonus payable on January 31, 2026, subject to continued employment; she remains eligible for certain Change-of-Control severance benefits under the company plan.

Does the filing indicate any related-party transactions or family relationships?

No. The filing states there is no arrangement or understanding with any other person regarding Mr. Jain’s appointment and no family relationships with the company’s directors or executive officers.

Are the full employment agreements available in this filing?

No. The filing states that the Jain and Duraibabu employment agreements will be filed as exhibits to the company’s Quarterly Report for the quarter ending September 30, 2025.