TREVENA,INC. (NASDAQ:TRVN) 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.
(e) On January6, 2017, Trevena,Inc. (Trevena or the Company)
amended its existing employment agreements with its Chief
Executive Officer (the CEO Amendment) and each of its other
executive officers (the NEO Amendments, and together with the CEO
Amendment, the Amendments).
Under the CEO Amendment, (i)for a termination for other than
cause, death or disability, cash severance was revised from 12
months base salary and target bonus to 15 months base salary and
target bonus, and continuation of group health coverage was
revised from 12 months to 15 months; and (ii)for a termination
following a change of control event, cash severance was revised
from 18 months base salary and target bonus to 21 months base
salary and target bonus, and continuation of group health
coverage was revised from 18 months to 21 months.
Under the NEO Amendments, (i)for a termination for other than
cause, death or disability, cash severance was revised from 9
months base salary to 12 months base salary, and continuation of
group health coverage was revised from 9 months to 12 months; and
(ii)for a termination following a change of control event, cash
severance was revised from 12 months base salary and target bonus
to 15 months base salary and target bonus, and continuation of
group health coverage was revised from 12 months to 15 months.
The description of the Amendments contained herein does not
purport to be complete and is qualified in its entirety by
reference to the Amendments attached hereto as Exhibit10.1 and
Exhibit10.2 to this Current Report on Form8-K and incorporated
herein by reference.
Item9.01. Financial Statements and
Exhibits.
(d)Exhibits
|
Exhibit Number |
|
ExhibitDescription |
|
10.1 |
Second Amendment to Executive Employment Agreement dated as |
|
|
10.2 |
Omnibus Amendment to Employments Agreements dated as of |
About TREVENA, INC. (NASDAQ:TRVN)
Trevena Inc. is a clinical-stage biopharmaceutical company. The Company discovers, develops and intends to commercialize therapeutics that use an approach to target G protein coupled receptors (GPCRs). Using its product platform, the Company has identified and advanced three differentiated product candidates: Oliceridine (TRV130), TRV027 and TRV250. Its TRV130 is a Mu-receptor G protein Pathway Selective (Mu-GPS) modulator that activates G protein. Its TRV250 is a small molecule G protein biased ligand of the d-opioid receptor in preclinical development. Its TRV734 is a small molecule Mu-GPS that it has discovered and has developed through Phase I as a first-line, orally administered compound for the treatment of moderate to severe acute and chronic pain. Its TRV027 is a peptide b-arrestin biased ligand that targets the angiotensin II type 1 receptor (AT1R). In addition to these three product candidates, the Company has identified and has completed the Phase I program for TRV734. TREVENA, INC. (NASDAQ:TRVN) Recent Trading Information
TREVENA, INC. (NASDAQ:TRVN) closed its last trading session down -0.09 at 6.61 with 603,743 shares trading hands.
