Bellerophon Therapeutics, Inc. (NASDAQ:BLPH) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

Bellerophon Therapeutics, Inc. (NASDAQ:BLPH) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

Story continues below

Item 5.02. Departure of Directors or Certain Officers; Election
of Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.

(c)
On March 10, 2017, the Board of Directors of Bellerophon
Therapeutics, Inc. (the “Company”) appointed Megan Schoeps as
Principal Financial Officer of the Company, effective as of March
10, 2017. Ms. Schoeps has served as the Controller of the Company
since February 2016 and, prior to that, its Assistant Controller
from June 2015 to February 2016. Prior to joining the Company,
Ms. Schoeps served as Manager, Financial Reporting at Actavis plc
from September 2013 to May 2015. Previously, from April 2013 to
September 2013, Ms. Schoeps was a Business Planning and Analysis
Manager at Novartis Consumer Health and from October 2009 to
April 2013, Ms. Schoeps was Manager, Financial Reporting then
Senior Manager, Financial Planning Analysis at Warner Chilcott.
Prior to Warner Chilcott, Ms. Schoeps was an auditor with
PricewaterhouseCoopers LLP. Ms. Schoeps holds a Bachelor’s
degree from Rutgers, The State University of New Jersey.
In May 2015, the Company entered into an offer letter with Ms.
Schoeps in connection with the commencement of her employment as
the Assistant Controller of the Company. The letter provides that
Ms. Schoeps is employed at will, and either the Company or Ms.
Schoeps may terminate the employment relationship for any reason,
at any time. The letter provides that Ms. Schoeps is entitled to
a $145,000 base salary, subject to annual review by the Company.
Following the end of each calendar year, Ms. Schoeps is eligible
to receive an annual bonus for such calendar year in accordance
with the terms of the Company’s management incentive program,
calculated as a percentage of her annual base salary. Ms. Schoeps
target bonus percentage for the 2015 calendar year was 25%.
Effective February 1, 2016, Ms. Schoeps was promoted to Controller
of the Company. In connection with this promotion Ms. Schoeps
annual base salary was increased to $150,000 and her target bonus
percentage for the 2016 calendar year remained 25%.
Ms. Schoeps did not receive additional compensation upon her
appointment as Principal Financial Officer of the Company.
Ms. Schoeps has no family relationships with any of the executive
officers or directors of the Company. There are no arrangements
or understandings between Ms. Schoeps and any other person to
which she was elected as an officer of the Company.
The foregoing description of the offer letter is a summary of the
material terms thereof and is qualified in its entirety by the
complete text of the offer letter, which is attached hereto as
Exhibit 10.1 to this Current Report on Form 8-K.
Item 9.01. Financial Statements and Exhibits.>
(d) Exhibits:
Exhibit Number
Description of Exhibit
10.1
Offer Letter, dated May 14, 2015, between Megan Schoeps
and the Registrant


About Bellerophon Therapeutics, Inc. (NASDAQ:BLPH)

Bellerophon Therapeutics, Inc. is a clinical-stage therapeutics company. The Company is focused on developing products at the intersection of drugs and devices that address medical needs in the treatment of cardiopulmonary diseases. The Company is focused on the development of its nitric oxide therapy for patients with pulmonary hypertension (PH), using its delivery system, INOpulse, with pulmonary arterial hypertension (PAH) as the lead indication. Its INOpulse device has a mechanism that delivers brief, targeted pulses of nitric oxide timed to occur at the beginning of a breath for delivery to the alveoli of the lungs, which minimizes the amount of drug required for treatment. The Company’s second program, BCM, is a medical device focused to prevent congestive heart failure following a ST Segment Elevation Myocardial Infarction (STEMI), which is a type of severe heart attack. The Company’s BCM is in PRESERVATION I clinical trial.

Bellerophon Therapeutics, Inc. (NASDAQ:BLPH) Recent Trading Information

Bellerophon Therapeutics, Inc. (NASDAQ:BLPH) closed its last trading session up +0.07 at 1.56 with 489,622 shares trading hands.

An ad to help with our costs