KemPharm, Inc. (NASDAQ:KMPH) 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.
(e)
2017 Cash Bonus Payouts
OnJanuary 25, 2018, the Compensation Committee (the "Compensation Committee") of the Board of Directors (the “Board”) of KemPharm, Inc., a Delaware corporation (the "Company"),approved the payment of cash bonuses to the Company’s named executive officers and principal financial officer (the “Executive Officers”) based on the achievement in 2017 of corporate and individual goals previously approved by the Board.The amounts awarded to the Executive Officers were as follows:
|
Executive Officer and Principal Position |
Bonus Amount |
|
|
Travis C. Mickle, Ph.D. |
$ |
136,000 |
|
President and Chief Executive Officer |
||
|
Sven Guenther, Ph.D. |
$ |
65,688 |
|
Executive Vice President, Research and Development |
||
|
Daniel L. Cohen |
$ |
66,640 |
|
Executive Vice President, Government and Public Relations |
||
|
R. LaDuane Clifton, CPA |
$ |
61,880 |
|
Chief Financial Officer, Secretary and Treasurer |
2018 Base Salaries and Cash Bonus Plan TargetPayouts
OnJanuary 25, 2018, the Compensation Committeeapproved the 2018 base salaries and target bonus awards forthe Executive Officers. The 2018 bonus awards for the Executive Officers will bebased on the achievement of corporate and individual goals,as approved by the Board.The 2018 basesalaries and target bonus awards for the Executive Officersare as follows:
| Executive Officer and Principal Position | 2018 Base Salary | Bonus Target (1) | |
| Travis C. Mickle, Ph.D. | $ | 515,000 | 50% |
| President and Chief Executive Officer | |||
| Sven Guenther, Ph.D. | $ | 355,000 | 35% |
| Executive Vice President, Research and Development | |||
| Daniel L. Cohen | $ | 350,000 | 35% |
| Executive Vice President, Government and Public Relations | |||
| R. LaDuane Clifton, CPA | $ | 335,000 | 35% |
| Chief Financial Officer, Secretary and Treasurer | |||
| (1) Bonus Targets listed as percentage of 2018 Base Salary |
About KemPharm, Inc. (NASDAQ:KMPH)
KemPharm, Inc. is a clinical-stage specialty pharmaceutical company. The Company is engaged in the discovery and development of prodrugs. The Company uses its Ligand Activated Therapy (LAT) platform technology to create prodrugs. The Company’s product candidate, KP201/APAP, consists of KP201, its prodrug of hydrocodone, which is combined with acetaminophen (APAP). The Company is developing KP201/APAP as an immediate release (IR), a product candidate for the short-term, or no longer than 14 days for the management of acute pain. The Company has designed KP201/APAP with abuse-deterrent properties to address the epidemic of opioid abuse in the United States. The Company also focuses on developing the pipeline of additional prodrug product candidates that targets pain and attention deficit hyperactivity disorder (ADHD). The Company’s products include KP201/IR (APAP-free), KP511/ER, KP415, KP606/IR and KP746.