ROCKWELL MEDICAL,INC. (NASDAQ:RMTI) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

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ROCKWELL MEDICAL,INC. (NASDAQ:RMTI) 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.

On May24, 2018, the Board of Directors (the “Board”) of Rockwell Medical,Inc. (the “Company”) voted to terminate the employment of Thomas Klema as Vice President, Chief Financial Officer, Secretary and Treasurer, effective immediately. Mr.Klema had been serving as the Company’s principal financial and accounting officer.

On May25, 2018, the Board, acting through its Special Transition Committee, appointed David Kull as the Company’s principal accounting officer. Mr.Kull, aged 51, has served as the Company’s Controller since 2007. Mr.Kull is a certified public accountant. In connection with his appointment in this role, Mr.Kull will continue to serve as Controller of the Company and will continue to oversee the Company’s accounting department and the preparation of the Company’s financial statements.

Item 8.01 Other Events.

On May25, 2018, the Circuit Court for Oakland County (the “Court”) issued a Stipulated Order as a result of the Company filing a request for declaratory relief and a temporary restraining order against Robert Chioini and Thomas Klema on May23, 2018. The Court, based upon the agreement of the parties, entered an order that for 21 days, Mr.Chioini and Mr.Klema cannot (i)enter the Company’s facilities; (ii)contact the Company’s employees; (iii)hold themselves out to the public as officers of the Company; (iv)file any documents with the Securities and Exchange Commission or any other regulatory body, on behalf of the Company; (v)issue any press releases, or other communications, on behalf of the Company; and (vi)have any contact with any customer or vendor of the Company, on behalf of the Company.

The Court also ordered the parties to engage in mediation during this 21-day period in an effort to resolve the underlying matter. The Court also requested the Board to refrain from making any material decisions regarding the matter without first addressing such decisions to the Court. The foregoing summary does not purport to be a complete description of the Court Order and is qualified in its entirety by reference to the full text of the Court Order, a copy of which is attached hereto as Exhibit99.1 and incorporated herein by reference.

Effective May25, 2018 and on the opening of trading on the Nasdaq Global Market, the Company’s common stock resumed trading under the symbol “RMTI.”

On May24, 2018, the Company issued a press release updating our shareholders with respect to certain actions taken since the termination of Mr.Chioini. Attached hereto as Exhibit99.2 and incorporated herein by reference, is a copy of the press release.

Item 9.01 Financial Statements and Exhibits.

(d)Exhibits. The following exhibits are being filed herewith:

EXHIBITINDEX


ROCKWELL MEDICAL, INC. Exhibit
EX-99.1 2 a18-14218_3ex99d1.htm EX-99.1 Exhibit 99.1   STATE OF MICHIGAN IN THE CIRCUIT COURT FOR THE COUNTY OF OAKLAND ROCKWELL MEDICAL,…
To view the full exhibit click here

About ROCKWELL MEDICAL,INC. (NASDAQ:RMTI)

Rockwell Medical, Inc. (Rockwell) is a biopharmaceutical company targeting end-stage renal disease (ESRD) and chronic kidney disease (CKD) with products and services for the treatment of iron deficiency, secondary hyperparathyroidism and hemodialysis. The Company operates through the hemodialysis market segment, which involves the manufacture, sale and distribution of hemodialysis products to hemodialysis clinics, including pharmaceutical, dialysis concentrates, dialysis kits and other ancillary products used in the dialysis process. Its lead branded drug, Triferic is indicated for iron maintenance. Triferic is an iron compound that is delivered to hemodialysis patients through dialysate, replacing the iron loss that occurs during their dialysis treatment. Its generic drug, Calcitriol, is indicated for treating secondary hyperparathyroidism in dialysis patients. It manufactures, sells, delivers and distributes hemodialysis concentrates, along with a range of ancillary products.