SECURITIES AND EXCHANGE COMMISSION
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Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Effective on March 16, 2023, the Board of Directors of Cassava Sciences, Inc. (the “Board”) amended the Cassava Sciences, Inc. 2020 Cash Incentive Bonus Plan (the “Cash Incentive Plan”) to remove all of the Board’s non-employee directors (the “Non-employee Directors) as beneficiaries under the Cash Incentive Plan and the Non-employee Directors consented to such removal. The Non-employee Directors’ share of potential benefits under the Cash Incentive Plan were completely forfeited to Cassava Sciences, Inc. and will not be allocated to any other participant under the Cash Incentive Plan. The Non-employee Directors have not received, and as a result of such amendment will never receive, any payments under the Cash Incentive Plan.
Item 9.01. Financial Statements and Exhibits.
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Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
CASSAVA SCIENCES, INC.
a Delaware corporation
Date: March 16, 2023
/s/ ERIC J. SCHOEN
Eric J. Schoen
Chief Financial Officer