Harmony Biosciences Holdings Inc. filed SEC Form 8-K: Leadership Update, Financial Statements and Exhibits
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Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangement of Certain Officers.
The Board of Directors (the “Board”) of Harmony Biosciences Holdings, Inc. (the “Company”) appointed Kumar Budur, M.D., M.S., the Company’s Chief Medical Officer, to the title of Executive Vice President and Chief Medical & Scientific Officer (the “Appointment”), effective on May 1, 2024 (the “Effective Date”). Biographical and other information required by Item 5.02(c)(2) and (3) of Form 8-K regarding Dr. Budur has been previously disclosed by the Company in its Definitive Proxy Statement on Schedule 14A filed with the Securities and Exchange Commission on April 11, 2024, which information is incorporated herein by reference.
In connection with the Appointment, the Compensation Committee of the Board approved an increase to Dr. Budur’s annual base salary (from $500,000 to $575,000) effective as of the Effective Date. Dr. Budur’s annual target bonus opportunity remains the same at 50% of his annual base salary. In addition, in connection with the Appointment, the Company will grant Dr. Budur a restricted stock unit (“RSU”) award covering 75,000 shares of the Company’s common stock, and an option award to purchase 75,000 shares of the Company’s common stock, each of which vest over four years, subject to Dr. Budur’s continued employment.
In connection with the Appointment, Dr. Budur’s employment arrangement was amended and is qualified in its entirety by reference to the full text of such original offer letter and subsequent letters, which are filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated by reference herein.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit |
| |
No. | Description | |
10.1 | Employment Letter between Harmony Biosciences, LLC, and Kumar Budur, as amended | |
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 hereunto duly authorized.
HARMONY BIOSCIENCES HOLDINGS, INC. | ||
Date: May 3, 2024 | By: | /s/ Jeffrey M. Dayno |
Jeffrey M. Dayno | ||
President, Chief Executive Officer and Director | ||