Flex Pharma,Inc. (NASDAQ:FLKS) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On October 30, 2017, the Board of Directors (the “Board”) of Flex Pharma,Inc., a Delaware corporation (the “Company”), unanimously voted to increase the size of the Board to ten members and to elect Roger Tung to the Board, effective immediately. Dr. Tung was designated as a ClassII member of the Board to serve until the 2020 annual meeting of the Company’s stockholders, or until his successor has been duly elected and qualified, or until his earlier death, resignation or removal.
There are no arrangements or understandings between Dr. Tung and any other person to which he was elected as a director. Dr. Tung will be paid compensation in the same manner as the Company’s other non-employee directors. Information concerning the current cash and equity compensation of the Company’s directors is set forth in the Company’s 2017 Proxy Statement filed with the U.S. Securities and Exchange Commission (the “SEC”) on April 19, 2017.
In connection with his appointment to the Board, Dr. Tung has entered into the Company’s standard form of Indemnity Agreement, a copy of which was filed as Exhibit10.1 to Amendment No.1 to the Registration Statement on FormS-1 (File No.333-201276) filed with the SEC on January13, 2015.
About Flex Pharma,Inc. (NASDAQ:FLKS)
Flex Pharma, Inc. is a biotechnology company. The Company develops treatments for nocturnal leg cramps, muscle cramps and spasms associated with severe neuromuscular conditions, and exercise associated muscle cramps (EAMCs). The Company’s product candidates activate certain receptors in primary sensory neurons, which then act through neuronal circuits to reduce the repetitive firing, or hyperexcitability, of alpha-motor neurons in the spinal cord, thereby preventing or reducing the frequency and intensity of muscle cramps and spasms. The Company operates through developing and commercializing products for nocturnal leg cramps, muscle cramps, spasms and spasticity associated with severe neuromuscular conditions, and exercise-associated muscle cramps segment. The Company’s lead drug product candidate is FLX-787, which is in the Phase II clinical trial stage. It is developing a consumer brand and products specifically formulated to treat athletes suffering from EAMCs.
