Navidea Biopharmaceuticals, Inc. (NAVB) announced the appointment of Rick Gonzalez as Chief Executive Officer or CEO, effective October 13, 2014.
Gonzalez has more than 20 years of experience in the pharmaceutical industry, and most recently served as Vice President, Global Operations at Spectrum Pharmaceuticals, a biotechnology company focused in oncology and hematology, the company noted.
Navidea said while appointing Gonzalez, it entered into an employment agreement with him and made an inducement grant to him of equity compensation. Gonzalez was granted options to purchase 1,000,000 shares of Navidea's common stock at an exercise price of $1.26 per share, the closing market price on October 10, 2014. The options vest and become exercisable in three tranches, subject to Gonzalez's continued employment by Navidea.
Navidea's Compensation Committee and the independent members of the Board of Directors approved the employment inducement award in reliance on an employment inducement exception to NYSE shareholder approval governance rules.
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