Aldeyra Therapeutics Announces Board and Compensation Changes

Ticker: ALDX · Form: 8-K · Filed: Sep 3, 2024 · CIK: 1341235

Sentiment: neutral

Topics: governance, executive-compensation

TL;DR

Aldeyra's board shuffled, exec pay adjusted. Watch for new strategy.

AI Summary

Aldeyra Therapeutics, Inc. announced on August 29, 2024, changes in its board of directors and executive compensation arrangements. Specifically, the company reported the departure of a director and the election of a new director, along with updates to compensatory arrangements for certain officers.

Why It Matters

Changes in board composition and executive compensation can signal shifts in company strategy, governance, or financial priorities, potentially impacting investor confidence and future performance.

Risk Assessment

Risk Level: low — The filing details routine corporate governance changes and compensation adjustments, which typically carry low immediate risk.

Key Players & Entities

FAQ

Who is the departing director and who is the newly elected director?

The filing states there was a departure of a director and the election of a new director, but does not name them in the provided text.

What specific changes were made to the compensatory arrangements of certain officers?

The filing indicates that compensatory arrangements of certain officers were updated, but the specific details of these changes are not provided in the excerpt.

What is the effective date of the reported changes?

The earliest event reported is August 29, 2024, and the report is dated September 3, 2024.

What is Aldeyra Therapeutics, Inc.'s principal executive office address?

The principal executive offices are located at 131 Hartwell Avenue, Suite 320, Lexington, MA 02421.

What is the company's IRS Employer Identification Number?

The company's IRS Employer Identification Number is 20-1968197.

Filing Stats: 1,024 words · 4 min read · ~3 pages · Grade level 11.6 · Accepted 2024-09-03 09:02:52

Key Financial Figures

Filing Documents

From the Filing

8-K 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 Date of Report (Date of earliest event reported): September 3, 2024 ( August 29, 2024 ) ALDEYRA THERAPEUTICS, INC. (Exact name of Registrant as specified in its charter) Delaware 001-36332 20-1968197 (State or other jurisdiction of incorporation) (Commission File No.) (IRS Employer Identification No.) 131 Hartwell Avenue , Suite 320 Lexington , MA 02421 (Address of principal executive offices and zip code) Registrant's telephone number, including area code: (781) 761-4904 Not Applicable (Former Name or Former Address, if Changed Since Last Report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, $0.001 par value per share ALDX The Nasdaq Stock Market LLC Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter). Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Item5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. Appointment of Principal Financial Officer and Principal Accounting Officer On August 29, 2024, the board of directors of Aldeyra Therapeutics, Inc. (the "Company") approved the appointment of Michael Alfieri as the Company's principal financial officer and principal accounting officer effective as of August 31, 2024 (the "Effective Date"). Pursuant to the Master Services Agreement, by and between the Company and Danforth Global, Inc. ("Danforth"), dated as of August 5, 2024 (the "Danforth Consulting Agreement"), Mr. Alfieri shall provide services to the Company under the Danforth Consulting Agreement as an independent contractor and employee of Danforth, with Danforth receiving cash compensation at an agreed upon hourly rate. The Danforth Consulting Agreement may be terminated by the Company or Danforth with cause, upon 30 days written notice, and without cause, upon 60 days written notice. Mr. Alfieri has served as a consultant with Danforth, a provider of strategic and operational finance and accounting for life science companies, since September 2019, where he provides financial consulting services to both public and private pharma and biotechnology companies. Prior to then, Mr. Alfieri served as Vice President, Finance and Principal Financial Officer of Genocea Biosciences, Inc., a biopharmaceutical company, from April 2018 through March 2019. Prior to Genocea, Mr. Alfieri served as Vice President, Finance of Radius Health, Inc., a biopharmaceutical company, from January 2017 through April 2018. Prior to Radius, Mr. Alfieri served as Corporate Controller of Merrimack Pharmaceuticals, Inc., a biopharmaceutical company from 2014 to 2017. Mr. Alfieri holds both a B.S. and a M.S. from Bentley University. There are no arrangements or understandings between Mr. Alfieri and any other person pursuant to which Mr. Alfieri was appointed as an officer of the Company, other than the Danforth Consulting Agreement. Mr. Alfieri does not have any family relationship with any director or executive officer of the Company and does not have any direct or indirect interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K. The foregoing description of the terms and conditions of the Danforth Consulting Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Danforth Consulting Agreement, which will be filed as an exhibit to the Company's Quarterly Report on Form 10-Q for the period ending September 30, 2024. Greenberg Separation Agreement and Consulting Agreement As previously disclosed by the Company, Bruce Greenberg stepped down from his positions with the Company, including as the Company's Senior Vice President of Finance, Interim Chief Fina

View Full Filing

View this 8-K filing on SEC EDGAR

View on Read The Filing