PROVECTUS BIOPHARMACEUTICALS, INC. (NASDAQ:PVCTW) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item5.02. Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.
On December27, 2016, the Board of Directors of Provectus
Biopharmaceuticals, Inc. (the Company) unanimously voted to
terminate Peter R. Culpepper, effective immediately, from all
positions held with the Company and each of its subsidiaries,
including Interim Chief Executive Officer and Chief Operating
Officer of the Company, for cause, in accordance with the terms
of his employment agreement based on the results of the
investigation conducted by a Special Committee of the Companys
Board of Directors regarding improper expense advancements and
reimbursements to Mr.Culpepper.
As previously reported, the Board of Directors has established a
search committee to identify a permanent Chief Executive Officer.
In the interim, Timothy C. Scott, Ph.D., the Companys President,
will perform the functions of the chief executive officer
position in his capacity as President while the chief executive
officer position remains vacant.
Item7.01. Regulation FD Disclosure.
On December28, 2016, the Company issued a press release
announcing the termination of Mr.Culpepper. A copy of the press
release is filed as Exhibit 99.1 hereto and is incorporated
herein by reference. to the rules and regulations of the
Securities and Exchange Commission, the information in this
Item7.01 disclosure, including Exhibit 99.1 and information set
forth therein, is deemed to have been furnished and shall not be
deemed to be filed under the Securities Exchange Act of 1934.
Item9.01. Financial Statements and Exhibits.
Press Release, dated December 28, 2016