Citius Pharmaceuticals, Inc. (OTCMKTS:CTXR) 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 September 15, 2017, the Board of Directors of Citius Pharmaceuticals, Inc. (the “Company”) as part of its annual compensation review, approved stock option awards under the Company’s 2014 Stock Incentive Plan to the Company's officers and directors, including Myron Holubiak, the Company’s President and Chief Executive Officer, and Leonard Mazur, the Company’s Executive Chairman. Each of Mr. Holubiak and Mr. Mazur were granted stock options to purchase 40,000 shares of the Company’s common stock an exercise price of $3.45 per share, the closing price of the Company’s common stock on the day prior to grant. The stock options vest one-third on September 13, 2018, and the remaining options vest in equal monthly installments at the end of each month for the two years following the initial vesting date of September 13, 2018, provided the officer remains in continuous service with the Company as of each vesting date. The stock options expire on September 13, 2027.
About Citius Pharmaceuticals, Inc. (OTCMKTS:CTXR)
Citius Pharmaceuticals, Inc., formerly Trail One, Inc., is a pharmaceutical company engaged in developing and commercializing therapeutic products. The Company focuses on developing formulations to manage the delivery and compliance of approved drugs. The Company offers Suprenza, an orally disintegrating tablet and an obesity drug that can be administered with water or dissolved on tongue. The Company also focuses on development of its product candidate, Hydrocortisone-Lidocaine Cream, which is in Phase II study. Its Hydrocortisone-Lidocaine Cream is used to provide anti-inflammatory and anesthetic relief to persons suffering from grade I and II hemorrhoids. Citius Pharmaceuticals, LLC is its subsidiary. The Company has not generated any revenues.