BICYCLE THERAPEUTICS PLC 8-K

What Happened Bicycle Therapeutics plc (BCYC) filed an 8-K reporting that on January 29, 2026 the Board appointed Travis Thompson as Chief Financial Officer, succeeding Alethia Young. Mr. Thompson (age 46) was previously the company’s Senior Vice President and Chief Accounting Officer and joined Bicycle in 2018. Ms. Young ceased serving as an officer, executive, director or agent of the company and Bicycle Therapeutics Inc. (BTI) on January 29, 2026, will remain in an interim capacity through April 29, 2026, and will then provide consulting services under a new consulting agreement.

Key Details

• Appointment effective date: January 29, 2026.
• Mr. Thompson compensation: $500,000 base salary; target annual cash bonus = 50% of base; grant of option to purchase 58,000 ordinary shares (subject to standard vesting); standard benefits and indemnity agreement.
• Severance for Mr. Thompson: if terminated without cause or for good reason, nine months base pay + up to nine months COBRA; within 12 months after a change in control, 18 months base pay + up to 18 months COBRA + lump-sum bonus at target + full acceleration of unvested equity.
• Ms. Young transition: interim through April 29, 2026, then a consulting agreement effective April 29, 2026 for a two-year term (auto-renews one year) paying $2,000 per Service Day, up to five service days per month; during Transition Period she receives base salary and benefits.
• Separation payments for Ms. Young: nine months base salary severance after Separation Date, full 2025 annual cash bonus at target, pro‑rated 2026 bonus equal to one quarter of target, and up to nine months COBRA. Consulting agreement preserves vesting of outstanding equity awards and includes confidentiality/non-disclosure covenants.

Why It Matters This filing signals a leadership change in the company’s finance function with an internal promotion to CFO, plus contractual commitments that create near-term cash obligations (severance, bonus payments, consulting fees) and future equity-related dilution (58,000-share option grant and continued vesting of existing awards). Investors should note the effective date (Jan 29, 2026), the material compensation and severance terms, and that the former CFO will remain available to the company during the transition and thereafter as a paid consultant.