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

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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
Item 9.01 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On April4, 2018, Maxine Gowen, Ph.D., President, Chief Executive Officer and director of Trevena,Inc. (the “Company”) formally notified the Company’s Board of Directors (the “Board”) of her intention to retire as an employee from the Company, effective as of October1, 2018. In connection with Dr.Gowen’s planned retirement, the Board approved a plan to appoint Carrie L. Bourdow, currently the Company’s Executive Vice President and Chief Operating Officer, to the position of President and Chief Executive Officer, effective as of October1, 2018.

At the time of her expected appointment as President and Chief Executive Officer, Ms.Bourdow’s annual base salary will be increased to $500,000 and her target cash incentive opportunity will be increased to 60 percent of her annual base salary. She also is expected to receive a stock option award of 335,000 shares upon her appointment, which will vest 1/16thper quarter on each three-month anniversary of the grant date.

In connection with her expected retirement, the Board has provided that Dr.Gowen will be eligible to receive separation payments totaling $907,200, representing compensation for both her target bonus for 2018 and her agreement to remain as CEO through October1, 2018 to facilitate a smooth and orderly transition to Ms.Bourdow. Dr.Gowen will continue to receive her current salary through the date of her retirement.

It is expected that (i)Dr.Gowen will remain on the Board after her retirement as an employee, and (ii)Ms.Bourdow will be appointed as a member of the Board following her appointment as President and Chief Executive Officer.

A copy of the press release is furnished hereto as Exhibit99.1 and incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

Number

Description

99.1

Press Release dated April5, 2018


TREVENA INC Exhibit
EX-99.1 2 a18-9654_1ex99d1.htm EX-99.1 Exhibit 99.1   Trevena Announces Retirement of Maxine Gowen,…
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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.