• SEC Filings

(d)Election of Director

On February 16, 2018, the Board of Directors (the “Board”) of Novan, Inc. (the “Company”) appointed Eugene Sun, M.D. to the Board, effective immediately. Dr. Sun will also serve as chairperson of the newly formed Research and Development Committee of the Board. There is no arrangement or understanding with any person to which Dr. Sun was appointed as a director. Dr. Sun will receive compensation for his service as director in accordance with the Company’s non-employee director compensation policy, which is filed as Exhibit 10.4 to the Company’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on August 11, 2017 and is incorporated herein by reference.

In connection with his appointment to the Board, Dr. Sun is expected to enter into the Company’s standard form of indemnification agreement, a copy of which is filed as Exhibit 10.1 to the Company’s Registration Statement on Form S-1 filed on August 24, 2016 and is incorporated herein by reference.

About Novan, Inc. (NASDAQ:NOVN)

Novan, Inc. is a late-stage pharmaceutical company. The Company is engaged in the development and commercialization of therapies using its nitric oxide platform. The Company develops product candidates using its Nitricil technology, which enables the Company to engineer tunable new chemical entities (NCEs). The Company’s formulation science enables it to further tune the release of nitric oxide when applied to the skin by using the combinations of inactive ingredients. It is developing SB204 for the treatment of acne vulgaris in Phase III. The Company is developing its product candidate, SB206, for the treatment of external genital and perianal warts in Phase II. It is developing SB208, an investigational topical anti-fungal for the treatment of fungal infections of the skin and nails. It is developing SB204 for the treatment of inflammatory skin diseases. Its pipeline also includes SB414, a topical cream product candidate.