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.

Effective April30, 2018, Dr.Santosh J. Vetticaden, M.D., former Senior Vice President and Chief Medical Officer of Depomed,Inc. (the “Company”), departed the Company. As previously announced, the Company appointed Dr.Stan Bukofzer, M.D., as Senior Vice President and Chief Medical Officer following Dr.Vetticaden’s decision not to relocate to the Company’s new Lake Forest,Illinois corporate headquarters. Dr.Vetticaden’s departure from the Company is not due to a disagreement with the Company on any matter relating to the Company’s operations, policies or practices.

In connection with his departure and subject to the terms and conditions of the standard form of release attached to the Management Continuity Agreement between Dr.Vetticaden and the Company, Dr.Vetticaden will be entitled to receive 12 months of his current base salary, payable in equal installments in accordance with the Company’s ordinary payroll practices, (ii)the full cost of the health insurance benefits provided to Dr.Vetticaden, his spouse and dependents, as applicable, to the terms of the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”) or other applicable law through the earlier of (a)the end of the 12 month period following the date of the Waiver and Release Agreement or (b)the date on which Dr.Vetticaden is no longer eligible for such COBRA or other benefits under applicable law and (iii)up to three months of outplacement services not to exceed $5,000 per month.


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.