Xeris Biopharma appoints Menassie Taddese director
His initial options-and-restricted-stock-unit award has an approximately $450,000 grant-date fair value, with eligibility for annual grants beginning at the 2027 annual meeting.
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Form Type
8-K
Rhea-AI Filing Summary
Xeris Biopharma Holdings, Inc. (XERS) increased its board from eight to nine members effective November 2, 2026, appointing Menassie M. Taddese as a Class II director and Audit Committee member. His term runs through the 2029 annual meeting and until a successor is duly elected and qualified, unless ended earlier by his death, resignation, or removal. The board determined him independent under Nasdaq listing standards, including heightened audit committee independence requirements.
Taddese’s initial equity award consists of options and restricted stock units with a combined grant date fair value of approximately $450,000. Beginning on the date of the 2027 annual meeting, he will be eligible for annual equity grants with an aggregate grant date fair value approximately equal to $300,000. He has held senior roles at Viatris and Pfizer and currently serves as an independent director and audit committee chair at Medexus Pharmaceuticals Inc.
Filing Explained
Taddese’s initial options and restricted stock units vest in three equal annual installments on the first three grant anniversaries, subject to continued board service through each date, while annual equity grants vest in full at the earlier of one year after grant or the next annual meeting, also subject to continued service.
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
Board size: 9 directors
Initial equity award fair value: Approximately $450,000
Annual equity grant fair value: Approximately $300,000
+2 more
5 metrics
Board size
9 directors
Increased from 8 directors effective November 2, 2026.
Initial equity award fair value
Approximately $450,000
Combined grant date fair value of options and restricted stock units.
Annual equity grant fair value
Approximately $300,000
Taddese will be eligible beginning on the date of the 2027 annual meeting.
Director term
2029 annual meeting
Taddese’s term runs through the meeting and until a successor is duly elected and qualified, subject to earlier termination.
Initial-award vesting
3 equal annual installments
On the first three anniversaries of the grant date, subject to continued service.
Key Terms
Class II director, Audit Committee, grant date fair value, restricted stock units, +1 more
5 terms
Class II director regulatory
"Mr. Taddese will serve as a Class II director"
A class II director is a member of a company’s board who belongs to one of several staggered groups of directors, each group standing for election in different years. For investors, this matters because staggered terms slow wholesale board turnover—like rotating members of a neighborhood committee—making sudden changes in control or strategy harder and affecting how quickly shareholders can influence corporate direction.
Audit Committee regulatory
"appointed to serve as a member of the Board’s Audit Committee"
A company's audit committee is a small group of board members who act like independent inspectors for the firm's finances, overseeing how financial reports are prepared, monitoring internal controls, and managing the relationship with external auditors. Investors care because a strong audit committee reduces the risk of accounting errors, fraud, or misleading statements, making financial statements more trustworthy and helping protect shareholder value.
grant date fair value financial
"combined aggregate grant date fair value of approximately $450,000"
The grant date fair value is the estimated dollar worth of a stock-based award (such as stock options or restricted shares) at the exact moment it is given to an employee or contractor. Investors care because companies use that value to record compensation expenses and to show how much potential ownership and earnings dilution those awards could create—think of it as the price tag placed on a gift card when it is handed over so the company can report the cost now.
restricted stock units financial
"options to purchase shares of the Company’s common stock and restricted stock units"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
Nasdaq listing standards regulatory
"qualifies as independent under Nasdaq listing standards"
Nasdaq listing standards are the set of rules a company must meet to be admitted to and remain on the Nasdaq stock market, covering financial thresholds (like minimum share price and earnings), reporting and disclosure, and board and governance practices. They matter to investors because meeting these standards signals a baseline of financial health and transparency, reduces the risk of sudden delisting, and helps ensure a market with enough buyers and sellers—like a safety checklist that keeps the trading venue orderly and trustworthy.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How much equity compensation will XERS director Menassie Taddese receive?
Taddese was granted an initial equity award with a combined grant date fair value of approximately $450,000. Beginning on the date of the 2027 annual meeting, he will be eligible for annual equity grants with an aggregate grant date fair value approximately equal to $300,000.
How do Xeris director equity awards vest?
The initial equity award vests in three equal annual installments on the first three anniversaries of its grant date, subject to continued service through the applicable vesting date. Annual equity grants vest in full on the earlier of the first anniversary of the grant date or the date of the next annual meeting, also subject to continued service.
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): November 2, 2026
(Exact name of registrant as specified in its charter)
| (State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) | |||||||||||||||
(Address of principal executive offices, including zip code)
(844 ) 445-5704
(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 | ||||||||||||||||||||||||
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.
Appointment of Director Menassie Taddese
Effective as of November 2, 2026 (the “Effective Date”), the Board of Directors (the “Board”) of Xeris Biopharma Holdings, Inc. (the “Company”) increased the size of the Board from eight (8) to nine (9) members, thereby creating a vacancy on the Board, and appointed Menassie Taddese to fill such vacancy. Mr. Taddese will serve as a Class II director and his term will expire at the Company’s 2029 annual meeting of stockholders and until his successor is duly elected and qualified, or until his earlier death, resignation, or removal. Mr. Taddese was also appointed to serve as a member of the Board’s Audit Committee, effective as of the Effective Date.
Mr. Taddese has served as a senior advisor at Emerging Markets Intelligence & Research (“EMIR”), an advisory and research firm based in Dubai, United Arab Emirates, since March 2023. He previously served as President, Emerging Markets at Viatris Inc. (“Viatris”), a global healthcare company, from November 2020 to December 2022. Prior to Viatris, Mr. Taddese held various positions of increasing responsibility at Pfizer Inc. from June 1997 to November 2020, including in corporate and treasury functions and in senior finance, commercial and general management roles. Mr. Taddese currently serves on the board of directors of Medexus Pharmaceuticals Inc., a specialty pharmaceutical company listed on the Toronto Stock Exchange, where he chairs the audit committee. He is also a member of the Business Council for International Understanding. Mr. Taddese holds an M.B.A. from the Smeal College of Business at Pennsylvania State University and a B.S. from Virginia Polytechnic Institute and State University, and has completed an Executive Leadership, Strategy, and Digital program at Columbia Business School.
There is no arrangement or understanding between Mr. Taddese and any other person pursuant to which Mr. Taddese was selected as a director, and there are no family relationships between Mr. Taddese and any of the Company’s directors or executive officers. The Board has affirmatively determined that Mr. Taddese qualifies as independent under Nasdaq listing standards, including the heightened independence requirements for audit committee members under Nasdaq Listing Rule 5605(c)(2) and Rule 10A-3 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and there are no transactions to which the Company is a party and in which Mr. Taddese has a direct or indirect material interest that requires disclosure under Item 404(a) of Regulation S-K.
In connection with his appointment, Mr. Taddese was granted an initial equity award consisting of options to purchase shares of the Company’s common stock and restricted stock units having a combined aggregate grant date fair value of approximately $450,000 under the Company’s non-employee director compensation program (the “Compensation Program”), including cash compensation as described in the Company’s Definitive Proxy Statement on Schedule 14A, filed with the Securities and Exchange Commission (the “SEC”) on April 23, 2026, which is incorporated herein by reference. Pursuant to the Compensation Program, beginning on the date of the Company’s 2027 annual meeting of stockholders and thereafter, Mr. Taddese will be eligible to receive an annual equity grant, consisting of options to purchase shares of the Company’s common stock and restricted stock units with an aggregate grant date fair value approximately equal to $300,000. Under the Compensation Program, initial equity awards vest in three equal annual installments on the first three anniversaries of the grant date, and annual equity grants vest in full on the earlier to occur of the first anniversary of the grant date or the date of the next annual meeting of stockholders, in each case subject to the non-employee director’s continued service to the Board through the applicable vesting date.
Mr. Taddese and the Company have entered into a standard indemnification agreement, substantially similar to the Company’s form of director indemnification agreement, a copy of which was filed as Exhibit 10.14 to the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, filed with the SEC on March 2, 2026, and is incorporated herein by reference.
Item 7.01 Regulation FD Disclosure.
On November 2, 2026, the Company issued a press release announcing the appointment of Mr. Taddese to the Board, a copy of which is furnished as Exhibit 99.1 to this Current Report on Form 8‑K and is incorporated herein by reference.
The information in this Item 7.01, including Exhibit 99.1, is being furnished and shall not be deemed to be “filed” for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that section and shall not be deemed incorporated by reference into any registration statement or other document filed pursuant to the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit Number | Description | |||||||
| 99.1 | Press release, dated November 2, 2026, issued by the Company | |||||||
| 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.
| Date: November 2, 2026 | Xeris Biopharma Holdings, Inc. | |||||||||||||
| By: | /s/ Steven M. Pieper | |||||||||||||
| Name: Steven M. Pieper | ||||||||||||||
Title: Chief Financial Officer | ||||||||||||||
Exhibit 99.1
XERIS BIOPHARMA WELCOMES MENASSIE M. TADDESE TO BOARD OF DIRECTORS
Experienced biopharmaceutical executive brings global commercial leadership, financial expertise, and public company governance experience
CHICAGO – November 2, 2026 – Xeris Biopharma Holdings, Inc. (Nasdaq: XERS), a leading endocrine and rare disease biopharmaceutical company committed to helping people realize better lives through the development and commercialization of innovative medicines, today announced the appointment of Menassie M. Taddese to its Board of Directors, effective today. Taddese will also serve on the Board’s Audit Committee.
“We are delighted to welcome Menassie to the Xeris Board,” said John Shannon, Chairman and Chief Executive Officer of Xeris. “His experience leading complex, pharmaceutical businesses, driving financial performance, and overseeing public company audit and governance matters will bring a valuable perspective to our Board. We look forward to benefiting from his leadership as we continue to execute our strategy and pursue long-term value creation.”
“I am pleased to join the Xeris Board of Directors as they continue to grow their commercial portfolio and advance their late-stage clinical pipeline medicine XP-8121,” said. Mr. Taddese. “I look forward to working with my fellow Board members and the Xeris management team as they continue their disciplined execution.”
About Menassie M. Taddese
Menassie M. Taddese is a biopharmaceutical executive with nearly 30 years of global leadership experience spanning commercial operations, corporate finance, business transformation, and corporate governance. He most recently served as President, Emerging Markets at Viatris, where he led an approximately $3 billion business operating across more than 125 markets, spanning four major therapeutic areas, and employing approximately 3,500 people. During his tenure, he led the integration of the Mylan and Upjohn businesses, exceeded projected financial performance, and expanded operating margins.
Previously, Taddese spent more than 20 years at Pfizer in roles spanning corporate finance, treasury, commercial leadership, and general management. He was one of the founding leaders of Pfizer's Upjohn business and served as Vice President and Chief Financial Officer of Pfizer's Global Innovative Pharma Segment North America, an approximately $8 billion business.
In addition to his executive leadership experience, Taddese brings significant board and financial oversight expertise. He serves as an independent director and Chair of the Audit Committee at Medexus Pharmaceuticals (TSX: MDP). His other board and advisory roles include the Business Council for International Understanding, the American School of Dubai and One Acre Fund. He is also a Senior Advisor at EMIR Group.
Taddese holds an MBA in Finance with distinction from Penn State Smeal College of Business and completed an Executive Program in Management at Columbia Business School. His professional honors include the Pharmaceutical Executive Emerging Leader Award and the Penn State Smeal College of Business Distinguished Achievement Award.
About Xeris Biopharma
Xeris Biopharma Holdings, Inc. (Nasdaq: XERS) is a leading endocrine and rare disease biopharmaceutical company committed to helping people realize better lives through the development and commercialization of innovative medicines for serious diseases with significant unmet medical need. Xeris has three commercially available products: Recorlev®, a cortisol synthesis inhibitor for the treatment of endogenous Cushing’s syndrome; Gvoke®, a ready-to-use liquid glucagon for the treatment of severe hypoglycemia; and Keveyis®, a proven therapy for primary periodic paralysis. Xeris also has a pipeline of development programs led by XP-8121, a Phase 3-ready, once-weekly subcutaneous injection for the treatment of hypothyroidism, as well as multiple early-stage programs leveraging Xeris’ technology platforms, XeriSol® and XeriJect®, for Xeris and its partners.
Exhibit 99.1
Xeris Biopharma Holdings is headquartered in Chicago, IL. For more information, visit www.xerispharma.com, or follow us on X, LinkedIn, or Instagram.
Forward-Looking Statements
Any statements in this press release other than statements of historical fact are forward-looking statements. Forward-looking statements include, but are not limited to, statements about future expectations, plans, opportunities, and prospects for Xeris Biopharma Holdings, Inc., including statements regarding, the composition of its Board of Directors, the Company’s ability to continue to demonstrate rapid growth of its commercial portfolio, the advancement of its pipeline, its ability to deliver long-term value for shareholders, future board capabilities, the market and therapeutic potential of its products and product candidates, and other statements containing the words “will,” “would,” “continue,” “expect,” “should,” “anticipate,” and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on numerous assumptions and assessments made in light of Xeris’ experience and perception of historical trends, current conditions, business strategies, operating environment, future developments, geopolitical factors and other factors it believes appropriate. By their nature, forward-looking statements involve known and unknown risks and uncertainties because they relate to events and depend on circumstances that will occur in the future. The various factors that could cause Xeris’ actual results, performance or achievements, industry results and developments to differ materially from those expressed in or implied by such forward-looking statements, include, but are not limited to, its financial position and need for financing, including to fund its product development programs or commercialization efforts, whether its products will achieve and maintain market acceptance in a competitive business environment, its reliance on third-party suppliers, including single-source suppliers, its reliance on third parties to conduct clinical trials, the ability of its product candidates to compete successfully with existing and new drugs, and its collaborators’ ability to protect its intellectual property and proprietary technology, and general macroeconomic and geopolitical conditions, including the possibility of an economic downturn, changes in governmental priorities and resources, announced or implemented tariffs, and market volatility. No assurance can be given that such expectations will be realized and persons reading this communication are, therefore, cautioned not to place undue reliance on these forward-looking statements. Additional risks and information about potential impacts of financial, operational, economic, competitive, regulatory, governmental, technological, and other factors that may affect Xeris can be found in Xeris’ filings, including its most recently filed Annual Report on Form 10-K and subsequent filings with the U.S. Securities and Exchange Commission, the contents of which are not incorporated by reference into, nor do they form part of, this communication. Forward-looking statements in this communication are based on information available to management, as of the date of this communication and, while the Company believes its assumptions are reasonable, actual results may differ materially. Subject to any obligations under applicable law, the Company does not undertake any obligation to update any forward-looking statement whether as a result of new information, future developments or otherwise, or to conform any forward-looking statement to actual results, future events, or to changes in expectations.
Investor and Media Contact
Cristi Barnett
Vice President, Investor Relations
ir@xerispharma.com