Impax Laboratories, Inc. (NASDAQ:IPXL) 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.
Laboratories, Inc. (the Company), upon the recommendation of the
Nominating Committee of the Board, appointed J. Kevin Buchi as a
director of the Company, effective immediately. The Board
expanded its size from eight to nine members and appointed Mr.
Buchi to fill the newly created seat. Mr. Buchi will serve on the
Board until the 2017 Annual Meeting of Stockholders and until his
successor is duly elected and qualified, or his earlier death,
resignation or removal or services as a director otherwise
concludes.
Officer and a member of the board of directors of TetraLogic
Pharmaceuticals Corporation (Nasdaq: TLOG), a clinical-stage
biopharmaceutical company, since August 2013. Prior to such time,
Mr. Buchi served as Corporate Vice President, Global Branded
Products of Teva Pharmaceutical Industries Ltd. (NYSE: TEVA), a
pharmaceutical company (Teva), from October 2011 to May 2012.
Prior to his position at Teva, Mr. Buchi served as Chief
Executive Officer of Cephalon, Inc. (formerly Nasdaq: CEPH), a
pharmaceutical company subsequently acquired by Teva (Cephalon),
from December 2010 to October 2011, and held various positions at
Cephalon including Chief Operating Officer from January 2010 to
December 2010 and Chief Financial Officer from 1996 to 2009.
Since April 2013, he has served as a director on the board and as
a member of the remuneration and nominating committee and audit
committee of the board of Benitec Biopharma Ltd. (Nasdaq: BNTC),
a biotechnology company headquartered in Australia. Mr. Buchi has
previously served on the board and committees of various
pharmaceutical and biotechnology companies including: the board
and the audit committee of EPIRUS Biopharmaceuticals, Inc.
(formerly Nasdaq: EPRS), a biopharmaceutical company, from June
2013 to July 2016; the board and the compensation committee of
Alexza Pharmaceuticals, Inc. (formerly Nasdaq: ALXA), a
pharmaceutical company focused on the acute treatment of central
nervous system conditions (subsequently acquired), from January
2013 to June 2016; the board and the audit committee of Forward
Pharma A/S (Nasdaq: FWP), a biotechnology company founded in
Denmark, from December 2012 to May 2016; the board and the audit,
compensation and nominating and corporate governance committees
of Stemline Therapeutics, Inc. (Nasdaq: STML), a clinical stage
biopharmaceutical company, from March 2012 to May 2016; and the
board and audit committee of Meslobast Limited, an Australian
securities exchange listed biotechnology company, from 2010 to
2012. Mr. Buchi received his B.A. degree from Cornell University
and a Masters of Management from the J.L. Kellogg Graduate School
of Management at Northwestern University.
non-employee director compensation and in connection with his
appointment as a new member of the Board, Mr. Buchi was granted
options to purchase 20,445>shares of the Companys common stock
and 8,020>shares of restricted stock (collectively, the Award)
on November 23, 2016 (the Grant Date) under the Companys Third
Amended and Restated 2002 Equity Incentive Plan with the Award
vesting (and with respect to the options, becoming exercisable
and any risk of forfeiture lapsing) on the earlier of the (i)
first anniversary of the Grant Date and (ii) one day before the
date of the Companys next annual meeting of stockholders, subject
to Mr. Buchis continued tenure through each respective vesting
date and with the options having a ten-year term.
the one hand, and any other person, on the other hand, to which
Mr. Buchi was elected as a director, and the Company believes
there are no transactions in which Mr. Buchi has an interest
requiring disclosure under Item 404(a) of Regulation S-K.
Change in Fiscal Year.
and restated bylaws of the Company, as amended (the Bylaws). The
amendment to the Bylaws (Amendment No. 6) amends Article III,
Section 14 of the Bylaws to increase the maximum number of
directors authorized to serve on the Board from eight to nine. As
amended, this section provides that the authorized number of
directors shall be no less than one nor more than nine.
be complete and is qualified in its entirety by reference to
Amendment No. 6, a copy of which is attached hereto as Exhibit
3.1 and is incorporated herein by reference.
(d)
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Exhibits.
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Exhibit No.
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Description
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3.1
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Amendment No. 6 to the Amended and Restated Bylaws of
Impax Laboratories, Inc., as amended effective November 23, 2016. |
About Impax Laboratories, Inc. (NASDAQ:IPXL)
Impax Laboratories, Inc. is a specialty pharmaceutical company. The Company is engaged in the development, manufacture and marketing of bioequivalent pharmaceutical products (generics), as well as the development and marketing of branded products. Its segments include Impax Generics and Impax Specialty Pharma. The Impax Generics segment is focused on the development, manufacture, sale and distribution of its generic products, which are the pharmaceutical and therapeutic equivalents of brand-name drug products and are marketed under their established drug names. The Impax Specialty Pharma segment is engaged in the promotion, sale and distribution of various branded products, including its branded pharmaceutical product, Rytary, an extended release oral capsule formulation of carbidopa-levodopa for the treatment of Parkinson’s disease, post-encephalitic Parkinsonism and Parkinsonism, and Zomig (zolmitriptan) products, indicated for the treatment of migraine headaches. Impax Laboratories, Inc. (NASDAQ:IPXL) Recent Trading Information
Impax Laboratories, Inc. (NASDAQ:IPXL) closed its last trading session 00.00 at 15.10 with 783,561 shares trading hands.