CRISPR Therapeutics Names Finance Insider Andrew Silver CFO As Raju Prasad Resigns
An 8-K says Prasad's exit is not tied to any disagreement over accounting, and Silver's pay is set at $515,000 a year.
CRISPR Therapeutics promoted Andrew J. Silver, its senior vice president of finance, to chief financial officer effective immediately, according to an 8-K filed Monday. The same filing says Raju Prasad resigned as CFO that day to pursue external opportunities.
What the 8-K says
Silver, 42, will also serve as principal financial officer and principal accounting officer. He has been senior vice president of finance since January 2025 and joined the company in October 2018.
His earlier roles covered strategic finance, treasury, financial planning and analysis, accounting and reporting, tax and financial operations. Before CRISPR, he spent more than 10 years at Ernst & Young, most recently as a senior manager in assurance services, where he became a certified public accountant.
Prasad told the company he was stepping down and resigned as CFO on Monday. The filing states his decision is not the result of any disagreement with the company on operations, policies or practices, including its financial statements, accounting, internal controls or disclosure controls.
Prasad is expected to remain an employee of CRISPR Therapeutics, Inc., the company's wholly owned subsidiary, until a date on or before November 30, 2026.
Silver's pay and protections
Under an employment agreement dated Monday, Silver will receive a salary of $515,000 a year and a target bonus of 45% of base salary. His 2026 bonus will be pro-rated to reflect the promotion date.
He also gets a one-time grant of 25,000 restricted stock units, which vest in full on the second anniversary of the grant date, provided he is still working for the company or a subsidiary.
If the subsidiary fires him without cause, or he resigns for good reason, six months' notice is required. Pay and equity vesting continue during that period, and he receives a pro-rated bonus.
If either event comes within 12 months after a change in control, the notice period becomes 12 months. Equity awards then vest, subject to his signing a release of claims.
The filing says there are no related-party transactions or family ties with directors or executive officers, and no arrangement under which he was picked.
What it changes
The finance seat passes to an internal successor who already ran the finance function as a senior vice president. The filing lists Samarth Kulkarni, the chief executive, as signatory.
The stock closed at $50.04 in Monday trading, according to market data. The 8-K was accepted by EDGAR at 4:11 p.m. ET.
Prasad's last day as an employee will fall on or before November 30, 2026, the filing says.
Sources
- 8-K Filing — CRISPR Therapeutics AG (CRSP) — SEC EDGAR
