Cel­gene sweet­ened the pot for ex­ec team ahead of Bris­tol-My­ers merg­er an­nounce­ment

A be­lea­guered Cel­gene $CELG, which was re­port­ed­ly in merg­er talks with Bris­tol-My­ers $BMY since Sep­tem­ber, had hatched a plan to sweet­en the pot for its ex­ec­u­tive team ahead of the his­toric $74 bil­lion deal an­nounced on Thurs­day.

In an SEC fil­ing fil­ing post­ed on Fri­day, Cel­gene said its CEO, CFO, pres­i­dent of re­search & ear­ly de­vel­op­ment and chief cor­po­rate strat­e­gy of­fi­cer be­came par­tic­i­pants in the the com­pa­ny’s ex­ec­u­tive sev­er­ance plan as of Jan­u­ary 2. Their par­tic­i­pa­tion en­ti­tles them to sev­er­ance ben­e­fits up­on a ter­mi­na­tion of em­ploy­ment, with­out cause, or due to the em­ploy­ee’s res­ig­na­tion for “good rea­son” — ei­ther would be con­sid­ered a “qual­i­fy­ing ter­mi­na­tion.”

Unlock this article instantly by becoming a free subscriber.

You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.

SIGN UP LOG IN BECOME A PREMIUM SUBSCRIBER