CATALENT, INC. (NYSE:CTLT) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
As part of the previously announced realignment of business units under the leadership of President and Chief Operating Officer, Alessandro Maselli, the position of Senior Vice President, Global Sales and Marketing at Catalent, Inc. (the “Company” or “Catalent”) will be eliminated effective April 1, 2019. As a result of this change, William Downie will transition to become an advisor to Mr. Maselli, with his annual base salary decreasing to £232,000, and will leave the Company no later than September 30, 2019. Upon his departure, he will receive severance payments totaling approximately £508,000 over the course of 12 months to his severance agreement, which is substantially in the form provided as Exhibit10.3 to the Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission on September17, 2010 by the Company’s wholly owned subsidiary, Catalent Pharma Solutions, Inc. In recognition of his past service and significant contributions to Catalent, as well as in order to assure a smooth transition, the Compensation and Leadership Committee of the Company’s Board of Directors has approved additional severance for Mr. Downie in the amount of £279,000, with £29,000 paid at the time of his departure and the remainder paid in four equal quarterly installments beginning in December of2019.
About CATALENT, INC. (NYSE:CTLT)
Catalent, Inc. provides delivery technologies and development solutions for drugs, biologics, and consumer and animal health products. Its segments include Softgel Technologies, Drug Delivery Solutions and Clinical Supply Services. The Softgel Technologies segment is engaged in the formulation, development and manufacturing of prescription and consumer health soft capsules or softgels. The Drug Delivery Solutions segment is engaged in the formulation, development and manufacturing of prescription and consumer and animal health products; blow-fill seal unit dose manufacturing; biologic cell line development; analytical and bioanalytical development, and testing services. The Clinical Supply Services segment is engaged in manufacturing, packaging, labeling, storage, distribution and inventory management for clinical trials of drugs and biologics for patient kits; FastChain clinical supply service; clinical e-solutions and informatics, and global comparator sourcing services.