Vir Biotechnology names Aziz Sawaf CFO from Oct. 5
Beginning October 5, 2026, Aziz Sawaf will lead Vir Biotechnology’s finance, IT and investor relations functions.
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Form Type
8-K
Rhea-AI Filing Summary
Vir Biotechnology, Inc. appointed Aziz Sawaf, MBEE, MBA, CFA, as executive vice president and chief financial officer, effective October 5, 2026. Brent Sabatini will stop serving as interim principal financial officer on that date and continue as senior vice president and chief accounting officer. Sawaf previously served as CFO of Theravance Biopharma since 2023.
Sawaf will receive an annualized base salary of $520,000 and is eligible for an annual bonus targeted at 45% of base salary. His $150,000 sign-on bonus will be paid in two halves: one on or around the effective date and one following its one-year anniversary, subject to continued employment through each payment date. On or around November 15, 2026, Vir has agreed to grant him an option for 150,000 shares and 75,000 restricted stock units. Both awards vest over four years, subject to continued employment; the option’s exercise price will equal fair market value on the grant date.
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8-K Event Classification
3 items: 5.02, 7.01, 9.01
3 items
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.
Item 7.01
Regulation FD Disclosure
Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Key Figures
Annualized base salary: $520,000
Target annual bonus: 45% of annualized base salary
Sign-on bonus: $150,000
+2 more
5 metrics
Annualized base salary
$520,000
For Aziz Sawaf as executive vice president and chief financial officer
Target annual bonus
45% of annualized base salary
Annual bonus plan eligibility
Sign-on bonus
$150,000
One-time bonus payable in two halves, subject to continued employment through each payment date
Option award
150,000 shares
Grant agreed for on or around November 15, 2026
Restricted stock units
75,000 shares
Grant agreed for on or around November 15, 2026
Key Terms
restricted stock units (RSUs), covered termination, good reason, full vesting acceleration
4 terms
restricted stock units (RSUs) financial
"an award of restricted stock units (RSUs)"
Restricted stock units (RSUs) are a type of company promise to give employees shares of stock in the future, usually after certain conditions like working for a set time. They are like a gift promised today that you receive later, which can become valuable if the company's stock price goes up. RSUs matter because they are a way companies reward employees and can be a significant part of compensation.
covered termination financial
"In the event of a covered termination"
good reason financial
"Mr. Sawaf’s resignation for good reason"
full vesting acceleration financial
"full vesting acceleration of all outstanding equity awards"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What compensation did VIR disclose for its new CFO?
Aziz Sawaf will receive an annualized base salary of $520,000 and is eligible for an annual bonus targeted at 45% of his annualized base salary. His $150,000 sign-on bonus will be paid in two halves, with the second following the one-year anniversary of his effective date, subject to continued employment. Vir has agreed to grant an option for 150,000 shares and 75,000 restricted stock units on or around November 15, 2026.
What severance benefits could VIR’s new CFO receive after a change in control?
For a covered termination during the 12-month period following a change in control, Sawaf is entitled to a lump-sum payment equal to 12 months of base salary plus his annual target cash bonus, up to 12 months of continued group health benefits, and full vesting acceleration of outstanding equity awards. A covered termination includes termination without cause, subject to the plan’s terms, or resignation for good reason.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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): October 1, 2026
________________________________________
(Exact name of Registrant as Specified in Its Charter)
________________________________________
| (State or Other Jurisdiction of Incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||||||
| (Address of Principal Executive Offices) | (Zip Code) | |||||||
Registrant’s Telephone Number, Including Area Code: (415 ) 906-4324
(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 | ||||||||||||
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 o
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. o
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On October 1, 2026, Vir Biotechnology, Inc. (the Company) announced that Aziz Sawaf, MBEE, MBA, CFA has been appointed as Executive Vice President and Chief Financial Officer and “principal financial officer” of the Company, effective as of October 5, 2026 (the Effective Date). As of the Effective Date, Brent Sabatini, CPA, MBA, will cease serving as the Company’s interim principal financial officer and continue in his role as Senior Vice President and Chief Accounting Officer and “principal accounting officer” of the Company.
Mr. Sawaf, 44, served as Chief Financial Officer since 2023 and also Senior Vice President of Operations Strategy since 2025 at Theravance Biopharma, Inc. (Theravance). He first joined Theravance in 2014, holding financial leadership roles of increasing responsibility before being appointed Chief Financial Officer. Prior to Theravance, Mr. Sawaf held roles on the R&D and commercial finance teams at Gilead Sciences, Inc. He received a B.S. in Business Administration from the University of Arizona, an MBA from the University of Southern California, Marshall School of Business and an MBEE from Johns Hopkins University. Mr. Sawaf is also a CFA® charterholder.
Mr. Sawaf’s annualized base salary will be $520,000, and he is eligible to participate in the Company’s annual bonus plan with a target bonus of 45% of his annualized base salary. Mr. Sawaf will receive a one-time cash sign-on bonus of $150,000, one-half of which will be paid on or around the Effective Date, and one-half of which will be paid following the one-year anniversary of the Effective Date, subject to Mr. Sawaf’s continued employment with the Company through each such date.
In addition, and pursuant to Mr. Sawaf’s offer letter with the Company, on or around November 15, 2026 (the Grant Date), the Company has agreed to grant Mr. Sawaf two equity awards under the Company’s 2019 Equity Incentive Plan, as may be amended from time to time (the Plan). The equity awards will be comprised of: (1) an option to purchase 150,000 shares of the Company’s common stock (the Option) and (2) an award of restricted stock units (RSUs) with respect to 75,000 shares of the Company’s common stock. The Option will have an exercise price equal to the fair market value of the Company’s common stock on the Grant Date, and will vest over four years, with 25% of the total number of shares subject to the Option vesting on the first anniversary of the Grant Date and the remainder vesting in 36 equal monthly installments thereafter, subject to Mr. Sawaf’s continued employment with the Company through each such date. The RSUs will vest over four years, with one-quarter of the total number of RSUs vesting on each of the first four anniversaries of the Grant Date, subject to Mr. Sawaf’s continued employment with the Company through each such date.
As a condition to his employment, Mr. Sawaf also signed a customary confidential information and invention assignment agreement with the Company.
Under the existing Vir Biotechnology, Inc. Change in Control and Severance Benefit Plan (the Severance Plan), Mr. Sawaf will be entitled to receive the following:
•In the event of a covered termination, which is either a termination by the Company without cause (as defined in the Severance Plan) (and other than as a result of death or disability) or Mr. Sawaf’s resignation for good reason (as defined in the Severance Plan), that occurs during the 12-month period following a change in control (as defined in the Severance Plan) (the change in control period), Mr. Sawaf will be entitled to a lump sum cash payment equal to 12 months of base salary plus his annual target cash bonus, up to 12 months of payment for continued group health plan benefits and full vesting acceleration of all outstanding equity awards.
•In the event of a covered termination that occurs outside of the change in control period, Mr. Sawaf will be entitled to a lump sum cash payment equal to nine months of base salary plus a pro-rated annual target cash bonus and up to nine months of payment for continued group health plan benefits.
There are no arrangements or understandings between Mr. Sawaf and any other person pursuant to which he was selected as Executive Vice President and Chief Financial Officer of the Company, and there is no family relationship between Mr. Sawaf and any of the Company’s directors or executive officers. Mr. Sawaf has no direct or indirect interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K. The foregoing description of the terms of Mr. Sawaf’s employment does not purport to be complete and is qualified in its entirety by reference to the full text of his offer letter, a copy of which the Company plans to file as an exhibit to its Quarterly Report on Form 10-Q for the quarter ended September 30, 2026.
Item 7.01 Regulation FD Disclosure.
On October 1, 2026, the Company issued a press release announcing the appointment of Mr. Sawaf as Executive Vice President and Chief Financial Officer. A copy of the press release is furnished herewith as Exhibit 99.1 to this Form 8-K. The information contained in this Item 7.01, including the attached Exhibit 99.1, is being “furnished” and shall not be deemed “filed” for the purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any filing made by the Company under the Securities Act or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
| Exhibit No. | Description | |||||||
| 99.1 | Press Release of the Company, dated October 1, 2026 | |||||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |||||||
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.
| VIR BIOTECHNOLOGY, INC. | |||||||||||
| Date: | October 1, 2026 | By: | /s/ Marianne De Backer | ||||||||
| Marianne De Backer, M.Sc., Ph.D., MBA President and Chief Executive Officer | |||||||||||
Vir Biotechnology Appoints Aziz Sawaf as Chief Financial Officer
SAN FRANCISCO, Calif. October 1, 2026 – Vir Biotechnology, Inc. (Nasdaq: VIR) today announced the appointment of Aziz Sawaf, MBEE, MBA, CFA, as Executive Vice President and Chief Financial Officer (CFO), effective October 5, 2026. Mr. Sawaf will be responsible for leading the finance, IT and investor relations functions.
“I am delighted to welcome Aziz to the executive leadership team. His experience in driving financial performance across the biotech lifecycle, from clinical development through regulatory approval and commercialization, will be a valuable asset for Vir Biotechnology’s next phase of growth,” said Marianne De Backer, President and Chief Executive Officer of Vir Biotechnology. “Aziz also brings a mindset of disciplined capital allocation, thoughtful investor engagement and tailored strategic partnering.”
“I am thrilled to join Vir Biotechnology at this moment in the company’s trajectory as it builds out its differentiated cancer immunotherapy pipeline while continuing to advance a potentially transformative hepatitis delta virus program for patients,” said Mr. Sawaf. “I look forward to partnering with Marianne, the Board and the entire Vir Biotechnology team to continue to allocate capital with discipline, advance the opportunities with the greatest potential for patients and create durable value for shareholders.”
Mr. Sawaf brings more than 20 years of biopharmaceutical experience spanning both large global organizations and small public biotechnology companies. He joins Vir Biotechnology from Theravance Biopharma, Inc., where he served as CFO since 2023 and also as Senior Vice President of Operations Strategy since 2025. He previously held financial leadership roles of increasing responsibility after joining Theravance in 2014. Prior to Theravance, Mr. Sawaf held roles on the R&D and commercial finance teams at Gilead Sciences during a period of extraordinary growth. He received a B.S. in Business Administration from the University of Arizona, an MBA from the University of Southern California, Marshall School of Business and an MBEE from Johns Hopkins University. Mr. Sawaf is also a CFA charterholder.
About Vir Biotechnology, Inc.
Vir Biotechnology, Inc. is a clinical-stage biopharmaceutical company focused on powering the immune system to transform lives by discovering and developing medicines for serious infectious diseases and cancer. Its clinical-stage portfolio includes programs for chronic hepatitis delta and multiple PRO-XTEN® dual-masked T-cell engagers across validated targets in solid tumor indications. Vir Biotechnology also has a preclinical portfolio of programs across a range of oncologic malignancies. Vir Biotechnology routinely posts information that may be important to investors on its website.
Vir Biotechnology has exclusive rights to the universal PRO-XTEN® masking platform for oncology and infectious disease. PRO-XTEN® is a trademark of Amunix Pharmaceuticals, Inc., a Sanofi company.
Media Contact
Caren Scannell
Director, Communications
cscannell@vir.bio
Investor Contact
Kiki Patel, PharmD
Head of Investor Relations
kpatel@vir.bio
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