Arrowhead Pharmaceuticals Inc. filed SEC Form 8-K: Leadership Update, Financial Statements and Exhibits
$ARWR
Biotechnology: Pharmaceutical Preparations
Health Care
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF
THE SECURITIES EXCHANGE ACT OF 1934
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Departure of Chief Financial Officer
On, April 9, 2025 Ken Myszkowski notified Arrowhead Pharmaceuticals, Inc. (the “Company”) of his decision to retire as Chief Financial Officer of the Company, effective as of May 13, 2025 (the “Effective Date”). Mr. Myszkowski has served as the Company’s Chief Financial Officer since 2009, and the Company extends its gratitude to Mr. Myszkowski for his years of service and contributions to the Company. Mr. Myszkowski’s decision to retire was not the result of any disagreement with the Company.
Following the Effective Date, Mr. Myszkowski will serve as an employee adviser and provide transition services, as requested by the Company, to facilitate an effective transition of his job responsibilities to his successor, until January 31, 2026 (the "Transition Period"). In consideration for such services, Mr. Myszkowski will receive (i) a base salary at an annual rate of $200,000 through the end of the Transition Period, subject to his continued employment, (ii) continued eligibility to participate in the Company’s medical, dental and life insurance benefit plans through the end of the Transition Period, subject to continued employment, and (iii) continued vesting of certain outstanding equity awards.
Appointment of Chief Financial Officer
On April 9, 2025, the Company determined that it would appoint Daniel Apel to serve as Chief Financial Officer of the Company, effective as of May 13, 2024, until the earliest of Mr. Apel's removal, termination, or resignation from such office.
Mr. Apel joins the company from Walgreens Boots Alliance, where he served as Global Head of Financial Planning and Analysis from 2019 through 2024. Prior to joining Walgreens Boots Alliance, he served in various roles at Bayer, a diversified global Healthcare, Crop Science and Consumer Health company, including most recently as Chief Financial Officer for Bayer in the U.S. from 2016 through 2019. Other significant roles in his nearly 20 year career at Bayer include Chief Financial Officer for Bayer Canada and Global Head of Accounting for the Bayer Healthcare Segment, based in Germany. He has served on the boards of the Biotechnology Innovation Organization (BIO) and the Organization for International Investment, and as a Trustee for the Health Institute of New Jersey. He earned a master's degree in Business Administration from the University of California, Berkeley, a bachelors of arts Degree from the University of Pennsylvania, and is a licensed Certified Public Accountant.
In connection with Mr. Apel’s appointment as Chief Financial Officer, Mr. Apel will receive an annual base salary of $575,00 and is eligible to receive an annual bonus with a target bonus set at 45% of his base salary for the applicable bonus period. In addition, Mr. Apel will receive a one-time grant of 100,000 restricted stock units (“RSUs”), which will vest annually over a four-year period, subject to Mr. Apel’s continued service to the Company on each vesting date. The Company may also provide $200,000 in Company-paid relocation benefits to Mr. Apel.
There are no arrangements or understandings between Mr. Apel and any other persons pursuant to which Mr. Apel was selected as Chief Financial Officer of the Company. There are no family relationships between Mr. Apel and any director or executive officer of the Company, and Mr. Apel has no direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K nor are any such transactions currently proposed.
A copy of the press release is attached as Exhibit 99.1 and incorporated by reference into this Current Report on Form 8-K.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
| Exhibit No. | Description | |||||||
| 99.1 | ||||||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
Date: April 15 2025
| ARROWHEAD PHARMACEUTICALS, INC. | ||||||||
| By: | /s/ Kenneth Myszkowski | |||||||
| Kenneth Myszkowski | ||||||||
| Chief Financial Officer | ||||||||