Supernus Pharmaceuticals,Inc. (NASDAQ:SUPN) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

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Supernus Pharmaceuticals,Inc. (NASDAQ:SUPN) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(e) Modification of Compensatory Arrangements with Executive Officers

On February14, 2018, the Compensation Committee of the Board of Directors of Supernus Pharmaceuticals,Inc. (the “Company”) approved modifications of the compensation of its executive officers, as follows:

The annual base salary of Jack A. Khattar, the Company’s President and Chief Executive Officer, was increased from $614,000 to $724,000. Mr.Khattar was awarded a 2017 bonus of $498,000 and was granted options to purchase 250,000 shares of common stock. In addition, Mr.Khattar’s bonus target for 2018 was increased to 75% of his base salary compared with 70% in 2017.

The annual base salary of Gregory S. Patrick, the Company’s Vice President and Chief Financial Officer, was increased from $351,000 to $362,000. Mr.Patrick was awarded a 2017 bonus of $143,000 and was granted options to purchase 30,000 shares of common stock. Mr.Patrick’s bonus target for 2018 is unchanged from 2017 and is 40% of his base salary.

The annual base salary of Stefan K.F. Schwabe, M.D., Ph.D., the Company’s Executive Vice President and Chief Medical Officer, was increased from $378,000 to $390,000. Dr.Schwabe was awarded a 2017 bonus of $159,000 and was granted options to purchase 30,000 shares of common stock. Dr.Schwabe’s bonus target for 2018 is unchanged from 2017 and is 40% of his base salary.

The annual base salary of Padmanabh P. Bhatt, Ph.D., the Company’s Senior Vice President,Intellectual Property and Chief Scientific Officer, was increased from $358,000 to $369,000. Dr.Bhatt was awarded a 2017 bonus of $137,000 and was granted options to purchase 30,000 shares of common stock. Dr.Bhatt’s bonus target for 2018 is unchanged from 2017 and is 35% of his base salary.

The annual base salary of Victor L. Vaughn, the Company’s Senior Vice President of Sales& Marketing, was increased from $331,000 to $340,000. Mr.Vaughn was awarded a 2017 bonus of $145,000 and was granted options to purchase 33,000 shares of common stock. Mr.Vaughn’s bonus target for 2018 is unchanged from 2017 and is 40% of his base salary.

These increases were the result of the Compensation Committee’s annual compensation review for executive officers. These increases in annual base salary became effective on January1, 2018, and are consistent with the Company’s industry peer group and were recommended to the Compensation Committee by Radford, its independent compensation consulting company.

Vesting for all stock option grants will occur annually in equal increments over a four year period. The exercise price for the executive officer option grants is $39.40 per share, based on the closing price of February14, 2018, the date of approval of the grants by the Compensation Committee. All other terms and conditions of the Company’s compensatory arrangements with these executive officers remain unchanged.


About Supernus Pharmaceuticals,Inc. (NASDAQ:SUPN)

Supernus Pharmaceuticals, Inc. is a pharmaceutical company focused on developing and commercializing products for the treatment of central nervous system (CNS) diseases. The Company offers products for the treatment of epilepsy, which include extended-release oxcarbazepine (Oxtellar XR) and extended-release topiramate (Trokendi XR). It develops multiple product candidates in psychiatry for the treatment of Impulsive Aggression (IA) and attention deficit hyperactivity disorder (ADHD). Its psychiatry product candidates include SPN-810 (molindone hydrochloride) and SPN-812 (viloxazine hydrochloride). It is also developing SPN-810 as a treatment for IA in patients who have ADHD and SPN-812 for the treatment of ADHD. It is developing SPN-809 (viloxazine hydrochloride) for the treatment of depression. It markets its products in the United States through its own specialty sales force and has collaborations with other pharmaceutical companies to license its products outside the United States.