Egalet Corporation (NASDAQ:EGLT) 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.
(d) On December2, 2016, the Board of Directors (the Board) of
Egalet Corporation (the Company) appointed Robert P. Roche,Jr. as
a director of the Company. The Board has not yet made a
determination regarding the committees on which Mr.Roche will
serve.
Mr.Roche is the founding member of Robert Roche Associates LLC, a
consulting firm providing guidance to the pharmaceutical and
healthcare industries. He founded this firm upon his retirement
from Cephalon,Inc. in February2010. Mr.Roche joined Cephalon,Inc.
in January1995 as the Vice President of Sales and Marketing and
was named Executive Vice President, Worldwide Pharmaceutical
Operations of Cephalon,Inc. in 2005. Before joining
Cephalon,Inc., Mr.Roche held various positions at SmithKline
Beecham Pharmaceuticals from 1982 to 1994, including as Director
and Vice President, Worldwide Strategic Product Development for
SmithKline Beechams central nervous system and gastrointestinal
products. Mr. Roche also serves on the board of directors of
Aratana Therapeutics, Inc. (NASDAQ: PETX), Antares Pharma, Inc.
(NASDAQ: ATRS), Paragon Bioservices, Inc. and Bryn Mawr Hospital.
Upon his appointment to the Board, Mr.Roche became entitled to
receive an annual cash retainer in the amount of $40,000, to
non-employee director compensation resolutions approved by the
Compensation Committee of the Board on November20, 2015. In
addition, under those compensation resolutions and to the
Companys Amended and Restated 2013 Stock-Based Incentive
Compensation Plan, Mr.Roche was granted options to purchase
$133,000 in value based on the Black-Scholes value of the
Companys common stock, par value $.001 per share, effective on
January3, 2017, which is the first trading day of the month after
the commencement of his service as a director.
Additional information regarding Mr.Roches appointment as a
director is contained in the press release attached hereto as
Exhibit99.1.
Item 9.01 – Financial Statements and Exhibits.
(d) Exhibits.
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ExhibitNumber |
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Description |
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99.1 |
Press Release, dated December8, 2016. |
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