MacroGenics, Inc. filed a Form 8-K on November 3, 2026, disclosing the appointment of two new independent directors, Michael Vasconcelles and Emil Kuriakose, to its Board of Directors effective October 30, 2026.

Key Highlights

  • Board expanded: The Board approved an increase in size from ten to eleven members on October 30, 2026.
  • Two new directors appointed: Dr. Michael Vasconcelles was appointed as a Class II Director and Dr. Emil Kuriakose as a Class III Director, both effective October 30, 2026.
  • Independence confirmed: The Board determined both directors are independent under Nasdaq Stock Market LLC standards and the Securities Exchange Act of 1934.
  • Committee assignments: Both Dr. Vasconcelles and Dr. Kuriakose were appointed to the Science and Technology Committee of the Board as of the effective date.
  • Equity grants: Each new director will receive an option to purchase 44,000 shares of common stock and a restricted stock unit grant for 7,500 shares under the Company's 2023 Equity Incentive Plan.
  • Vesting terms: The stock options vest in 36 substantially equal monthly portions beginning on the first monthly anniversary of grant; the RSUs vest in one-third increments on each anniversary of the grant date.

MacroGenics Expands Board with Two Independent Director Appointments

According to the filing, MacroGenics, Inc. (NASDAQ:MGNX) disclosed that its Board of Directors, acting on the recommendation of its Nominating and Governance Committee, voted on October 30, 2026 to increase the size of the Board from ten to eleven members. Following that action, the Board appointed Dr. Michael Vasconcelles as a Class II Director and Dr. Emil Kuriakose as a Class III Director, both effective the same date.

The filing states that Dr. Vasconcelles will serve until the 2027 annual meeting of stockholders, or until his successor is duly elected and qualified, or until his earlier death, resignation, or removal. Dr. Kuriakose will serve until the 2028 annual meeting of stockholders under the same conditions. Both directors were also assigned to the Science and Technology Committee of the Board as of the effective date, the filing noted.

As compensation, the filing disclosed that each director will receive an annual retainer consistent with the Company's Director Compensation Program for non-employee directors, as described in the definitive proxy statement filed with the SEC on April 8, 2026. Each will also receive an Initial Option Award to purchase 44,000 shares of common stock, with an exercise price equal to the closing market price on October 30, 2026, vesting over 36 substantially equal monthly installments. Additionally, each will receive a restricted stock unit grant for 7,500 shares, vesting in one-third increments on each of the first three anniversaries of the grant date, subject to continuous service as defined in the 2023 Equity Incentive Plan. The filing noted that neither director was selected pursuant to any arrangement or understanding with any person, and neither has engaged in any transaction reportable as a related party transaction under Item 404(a) of Regulation S-K.

What Was Disclosed

MacroGenics filed an 8-K reporting the expansion of its Board from ten to eleven members and the appointment of two new independent directors, Michael Vasconcelles and Emil Kuriakose, along with their equity compensation terms under the Company's 2023 Equity Incentive Plan.