Research Reports

Key takeaways

Geoff Race resigned as President and Mind-NRG Director effective March 31, 2026, via settlement agreement dated March 30, 2026.

Company to pay Race PILON of $529,610 salary, $15,888 pension, $66,201 pro-rated 2026 bonus, plus £30,000 severance.

Race's stock options fully vested with exercise extended to January 1, 2030; enters consultancy at £333/hour for min 35 hours/month from April 15, 2026 to April 14, 2027.

James O’Connor appointed Chief Business Officer and General Counsel effective April 21, 2026, by Board recommendation.

Press release furnished as Exhibit 99.1 highlights Race's 16-year contributions and O’Connor’s 20+ years life sciences experience.

Full analysis

The leadership transition involves the departure of long-serving President Geoff Race, who joined in 2010 and held key roles including CFO and CBO, through a settlement waiving his 12-month notice period in exchange for specified cash payments totaling over $620,000 USD equivalent plus £30,000 severance, full acceleration of stock options, and a one-year consultancy arrangement. This ensures continuity during transition while providing significant retention incentives via extended option exercise to 2030. Simultaneously, James O’Connor’s appointment to dual CBO and General Counsel roles brings extensive life sciences expertise, including financings exceeding $130 million, FDA interactions, and prior C-suite experience, positioning the company for strategic execution in its roluperidone Phase 3 program.

NERV · Minerva Neurosciences, Inc.

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Key takeaways

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