G1 Therapeutics Executives Take Pay Cut for Cost Management

The latest update is out from G1 Therapeutics Inc (GTHX).

G1 Therapeutics, Inc. has taken a strategic step towards cost management by renegotiating the employment contracts of its executive team, resulting in a temporary 10% salary reduction for key members including the CEO, CFO, and Chief Business Officer. This pay cut is part of a broader initiative to streamline expenses and will last until the end of March 2025, unless reinstated sooner. Despite the salary cut, executives remain eligible for their annual bonus and have provisions for immediate equity vesting in the event of a change in company control. This move demonstrates the company’s commitment to financial prudence while maintaining incentives for its top executives.

Learn more about GTHX stock on TipRanks’ Stock Analysis page.