ALX ONCOLOGY HOLDINGS INC 8-K

What Happened
ALX Oncology Holdings Inc. announced the appointment of Jeff Knight as Chief Development and Operating Officer, effective April 13, 2026. Mr. Knight, age 55, joins from Crinetics Pharmaceuticals where he served as Chief Development and Operating Officer from September 2021 to April 2026, and has more than two decades of development, operations and portfolio management experience at companies including Poseida, Halozyme, Amgen, Onyx, and Genentech. The company furnished a press release announcing the hire (Exhibit 99.1).

Key Details

• Effective date: April 13, 2026.
• Annual base salary: $565,000 (subject to standard withholdings).
• Annual target cash bonus: 40% of base salary, based on Board-approved performance objectives.
• Equity award: stock option to purchase 800,000 shares under the 2025 Inducement Equity Incentive Plan; vests 25% after one year, then 1/48 monthly thereafter, subject to continued service.
• Agreements: Mr. Knight signed the Company’s standard change-of-control and severance agreement (filed as Exhibit 10.12 to the 2026 10-K) and an existing indemnification agreement remains in effect.
• No related-party arrangements or family relationships were reported in connection with the appointment.

Why It Matters
This is a senior operational hire with direct responsibility for development and operations—functions central to advancing ALX Oncology’s clinical programs. The compensation package combines cash and a sizable equity inducement, which aligns incentives to the company’s long-term development goals but will also increase potential share dilution if options are exercised. Investors should note the executive’s relevant industry experience and the existence of standard change-of-control and indemnification protections disclosed by the company.