DEPOMED,INC. (NASDAQ:DEPO) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

ME Staff 8-k
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DEPOMED,INC. (NASDAQ:DEPO) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On July12, 2017, Depomed,Inc. (the “Company”) entered into an agreement with Thadd Vargas, the Company’s Senior Vice President, Business Development, to which Mr.Vargas will retire and resign as an officer of the Company, effective as of July31, 2017. Mr.Vargas has lead the Company’s business development function since 2002. In connection with his retirement from the Company, and to the release of claims executed in connection with his resignation, and not revoked in accordance with applicable law, Mr.Vargas will receive a lump sum cash payment equal to his current annual base salary, a lump sum cash payment equal to a pro-rata portion of the annual bonus he would have earned for 2017 based on actual performance of the Company over the entire year (payable in 2018 at the same time annual bonuses are paid to executives generally), and Company-paid health insurance benefits for a period of 12 months. In addition, approximately 22,000 restricted stock units held by Mr.Vargas will vest as scheduled on December1, 2017. Mr.Vargas will also receive a consulting fee for providing certain business development related consulting services to the Company from August2, 2017 through December31, 2017.


About DEPOMED,INC. (NASDAQ:DEPO)

Depomed, Inc. is a specialty pharmaceutical company focused on pain and other central nervous system (CNS) conditions. The Company’s products include NUCYNTA ER (tapentadol extended release tablets), which is a product for the management of pain severe enough to require daily, around-the-clock, long term opioid treatment, including neuropathic pain associated with diabetic peripheral neuropathy in adults, and for which alternate treatment options are inadequate; NUCYNTA (tapentadol), which is an immediate release version of tapentadol for the management of moderate to severe acute pain in adults; Gralise, which is a once-daily product for the management of postherpetic neuralgia; CAMBIA, which is a non-steroidal anti-inflammatory drug (NSAID) for the acute treatment of migraine attacks; Zipsor, which is a NSAID for the treatment of mild to moderate acute pain, and Lazanda nasal spray, which is used for the management of break through pain in cancer patients.