CAMBREX CORPORATION (NYSE:CBM) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02 – Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On October 31, 2017, the Board of Directors of Cambrex Corporation appointed Dr. Gregory B. Brown, M.D. 64, as a member of the Company’s Board of Directors for a term expiring on the date of its 2018 annual meeting. He will serve on the Audit and Regulatory Affairs Committees. Dr. Brown’s appointment increases the size of the Board to 10 members.
In 2007, Dr. Brown co-founded HC Royalty Advisory Board, a healthcare-focused private asset management firm investing in biopharmaceutical and medical products. He has been the Vice Chairman of the Board of Directors and Chairman of the Strategic Advisory Board at HC Royalty since 2016, and has been involved in more than $1 billion of royalty financings.
Dr. Brown currently serves as Chairman of the Board of Caladrius Biosciences, Inc., a clinical stage development company with cell therapy products in development based on multiple technology platforms and targeting autoimmune and select cardiology indications. He is also a member of the Board and Audit Committee of Faron Pharmaceuticals, Oy, as well as a member of the Board, Audit, Governance and Product Selection Committees of MonoSol Rx, LLC, a specialty pharmaceutical company leveraging its proprietary PharmFilm technology to deliver drugs. Dr. Brown also serves on the Board of Vanderbilt Clinical S.a.r.l. He holds a B.A. from Yale, an M.D. from SUNY Upstate Medical Center and M.B.A. from Harvard Business School.
Dr. Brown will be paid in accordance with the Company’s non-employee director compensation program, prorated for the current year, which is as follows: the compensation for non-employee directors consists of an annual retainer of $55,000 plus $5,000 annual retainer for each Committee he is a member of, and an annual award of such number of restricted stock units equivalent in value to $70,000 (determined by dividing $70,000 by the average of the highest and lowest trading prices of the Company’s stock as reported on the NYSE on the date of the award) and an option to purchase $45,000 in value of shares of the Company’s common stock (estimated on the date of the grant using the Black-Scholes option-pricing model based on the director’s age and expected retirement date).
Item 9.01 – Financial Statements and Exhibits
(d) Exhibits
(99.1) Press release issued by Cambrex Corporation dated November 3, 2017.
CAMBREX CORP ExhibitEX-99.1 2 ex_98738.htm EXHIBIT 99.1 ex_98738.htm Exhibit 99.1 NEWS RELEASE GREGORY B. BROWN M.D. APPOINTED TO THE BOARD OF DIRECTORS OF CAMBREX CORPORATION East Rutherford,…To view the full exhibit click here
About CAMBREX CORPORATION (NYSE:CBM)
Cambrex Corporation (Cambrex) is a life sciences company. The Company provides products and services for the development and commercialization of new and generic therapeutics. The Company supplies its products and services across the world to generic pharmaceutical companies. Cambrex operates through three segments, which are manufacturing facilities. The Company’s manufacturing facilities are located in the Europe and the United States. The Company’s business consists of the custom development and manufacture of pharmaceutical ingredients derived from organic chemistry. The Company’s products include active pharmaceutical ingredients (APIs), pharmaceutical intermediates and other fine chemicals. The Company’s products and services are sold around the world under trademarks that are owned by the Company. This includes Profarmaco, which is registered around the world as a word and design mark. Its products are sold through a combination of direct sales and independent agents.