Tyme Technologies, Inc. (OTCMKTS:TYMI) Files An 8-K Other EventsItem 8.01 Other Events.
On February9, 2018, our Chief Executive Officer, Steve Hoffman, and our Chief Operating Officer, Michael Demurjian, each entered into an individual written trading plan (the “10b5-1 Plans”) in accordance with Rule 10b5-1 under the Securities Exchange Act of 1934, as amended, and our insider trading policy.
Under the 10b5-1 Plans, Messrs. Hoffman and Demurjian will each sell shares in one or more transactions, if the market price of Tyme common stock reaches or exceeds certain minimum price thresholds specified in their 10b5-1 Plans. Between February 2018 and January 2019, the maximum number of shares either Mr.Hoffman or Mr.Demurjian may sell to his 10b5-1 Plan is one million shares, subject to weekly volume limitations. The maximum number of shares that could be sold reflects approximately 3.7% of the outstanding Tyme common stock currently owned by each of Mr.Hoffman and Mr.Demurjian.
The transactions executed in accordance with the 10b5-1 Plan will be disclosed publicly through Form 144 and Form 4 filings with the Securities and Exchange Commission. Except as may be required by law, the Company does not undertake to report on specific Rule10b5-1 plans of the Company’s officers or directors, or to report modifications or terminations of those plans.
About Tyme Technologies, Inc. (OTCMKTS:TYMI)
Tyme Technologies, Inc., formerly Global Group Enterprises Corp., conducts majority of its research and development activities and other business operations, through its subsidiary, Tyme Inc. (Tyme). Tyme is a clinical-stage biopharmaceutical company. Tyme is focused on the development and commercialization of highly targeted cancer therapeutics with a range of oncology indications. The Company’s another subsidiary, Luminant Biosciences, LLC, conducts the initial research and development of the Company’s therapeutic platform. The Company is formulating its regulatory and drug development program for its lead drug candidate, SM-88, and working towards the initiation of its Phase II clinical trial. The Company is also evaluating the expansion of its Phase II program to other types of cancer. The Company has not generated any revenue.
