Summary by Moomoo AI
Senti Biosciences, Inc., a Delaware-incorporated biotechnology company, has announced significant changes to its executive team in a recent Form 8-K filing with the SEC. Timothy Lu, M.D., Ph.D., currently serving as the CEO and President, has been appointed as the interim principal financial officer and principal accounting officer, effective May 4, 2024. This appointment follows the Board's approval on April 26, 2024, and will last until a permanent successor is appointed or until Lu's earlier departure from the role. Additionally, Yvonne Li has been appointed as the Interim Chief Financial Officer, also effective May 4, 2024. Li's appointment will become official immediately after the filing of the company's Quarterly Report for the fiscal quarter ended March 31, 2024. In conjunction with her appointment, Li has entered into a consulting agreement with Senti Biosciences, which includes a consulting fee of $350 per hour and a maximum aggregate payment of $370,000. The company plans to provide a full description of the Li Consulting Agreement in its upcoming Quarterly Report for the fiscal quarter ending June 30, 2024.