Praxis Precision Medicines, Inc. 8-K

What Happened

• Praxis Precision Medicines announced that Megan Sniecinski was appointed Chief Operating Officer, effective January 1, 2026. She previously served as the company's Chief Business Officer from December 2021 through December 2025.
• On January 8, 2026, the Board elected Jeffrey B. Kindler and Stuart A. Arbuckle as Class II non-employee directors, each to serve until the 2028 annual meeting. The Board determined both directors are independent under Nasdaq rules.

Key Details

• Ms. Sniecinski’s annual base salary was increased to $626,000 effective January 1, 2026, and her 2026 target bonus was set at 50% of base salary.
• Ms. Sniecinski entered into the company’s standard amended and restated employment agreement and an indemnification agreement consistent with other executives.
• Mr. Kindler and Mr. Arbuckle will receive compensation under the company’s Non-Employee Director Compensation Policy, including initial and annual stock option awards and an annual cash retainer; committee assignments have not yet been determined.
• The company reported no related person transactions requiring disclosure and no family relationships between Ms. Sniecinski and company officers or directors.

Why It Matters

• The promotion of an internal executive to COO signals leadership continuity in operations and commercial strategy; the specified salary and bonus set near-term compensation expense expectations.
• Adding two independent directors may affect board expertise and governance oversight; their independence and standard indemnification/compensation arrangements are disclosed, with committee roles to be announced later.
• For investors: these are governance and management updates (Item 5.02) to monitor for any subsequent disclosures about committee assignments, operational changes, or material related-party transactions.