Corvus Pharmaceuticals, Inc. 8-K

What Happened

• Corvus Pharmaceuticals (CRVS) announced in an 8-K that the Board appointed Andrew C. Chan, M.D., Ph.D., as a Class II director effective April 23, 2026. His term runs until the 2027 annual meeting of stockholders or until a successor is elected.
• On the same date, long-serving director Scott Morrison delivered notice of his resignation effective April 23, 2026. The filing notes Morrison served on the Board for over a decade and was Chair of the Audit Committee.

Key Details

• Dr. Chan was also appointed to the Nominating and Corporate Governance Committee, effective April 23, 2026.
• Director compensation: a $35,000 annual cash retainer (prorated for the quarter), an automatic initial stock option to purchase 30,000 shares under the 2016 Equity Incentive Award Plan, plus $4,000 annual cash for service on the Nominating Committee (prorated).
• Dr. Chan will enter the company’s standard director/executive officer indemnification agreement; the compensation program and indemnification form are referenced in Corvus’s March 12, 2026 Form 10-K filings.

Why It Matters

• Board changes affect corporate governance and oversight. Investors should note a leadership change in the Audit Committee and the addition of a new, presumably medically trained director, which may influence board expertise.
• Compensation is typical for non-employee directors (cash retainer plus equity), so the appointment has limited direct cash impact but includes dilution potential from the option grant and possible future equity awards.