ADAMAS PHARMACEUTICALS,INC. (NASDAQ:ADMS) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On October 10, 2017, the Board of Directors (the “Board”) of Adamas Pharmaceuticals, Inc., appointed Mardi C. Dier as a member of the Board and a member of the Audit Committee of the Board, replacing David Mahoney on that Committee. Ms. Dier will serve as a Class II director, the term of which class expires at the 2019 Annual Meeting of Stockholders.
Ms. Dier will be entitled to compensation under Adamas’s standard compensation arrangements for non-employee directors, which is as follows for a member of the Board and Audit Committee:
|
an annual cash fee for service as a director during the year of $35,000; |
|
an annual cash fee for service as a member of the Audit Committee of $7,500; |
|
an initial stock option grant for 30,000 shares of Adamas common stock as of the date of appointment, with an exercise price per share equal to the fair market value of a share on the date of grant, which will vest annually over three years, subject to the continuous service with Adamas, and which vesting will accelerate in full upon a change in control of Adamas; and |
|
on the date of each Adamas annual meeting of stockholders an annual stock option grant for 15,000 shares of Adamas common stock, with an exercise price per share equal to the fair market value of a share on the date of grant, which will vest after one year, subject to the continuous service with Adamas, and which vesting will accelerate in full upon a change in control of Adamas. |
Ms. Dier will also enter into Adamas’s standard form of indemnification agreement between Adamas and its directors and executive officers.
On October 10, 2017, Richard H. Booth also retired from the Adamas Board of Directors, effective immediately.
About ADAMAS PHARMACEUTICALS,INC. (NASDAQ:ADMS)
Adamas Pharmaceuticals, Inc. is a pharmaceutical company. The Company is engaged in developing medicines to manage the daily lives of those affected by chronic neurologic disorders. It offers a platform based on an understanding of time dependent biologic effects of disease activity and drug response to achieve relief without tolerability issues. It has developed a portfolio of chrono-synchronous therapies to address chronic neurologic disorders. Its first product candidate is ADS-5102, a chrono-synchronous amantadine therapy, for the treatment of levodopa-induced dyskinesia (LID) in patients with Parkinson’s disease (PD). It has completed Phase II proof-of-concept study of ADS-5102 in these patients. Its Phase III clinical program included three placebo-controlled trials: EASED, EASE LID and EASE LID 3. Its second product candidate is ADS-4101, an extended-release version of single-agent compound for the treatment of epilepsy (partial onset seizures).