Allarity Therapeutics Files 8-K on Officer/Director Changes
Ticker: ALLR · Form: 8-K · Filed: Jun 6, 2024 · CIK: 1860657
Sentiment: neutral
Topics: leadership-change, governance, filing
TL;DR
Allarity leadership shake-up, new officers/directors elected, check the filings.
AI Summary
Allarity Therapeutics, Inc. filed an 8-K on June 6, 2024, reporting events as of May 31, 2024. The filing primarily concerns the departure of directors or certain officers, the election of directors, the appointment of certain officers, and compensatory arrangements for those officers. It also includes financial statements and exhibits.
Why It Matters
This filing indicates potential shifts in the company's leadership and governance structure, which could impact strategic direction and operational oversight.
Risk Assessment
Risk Level: medium — Changes in executive and board composition can signal underlying issues or strategic pivots, warranting closer examination.
Key Players & Entities
- Allarity Therapeutics, Inc. (company) — Registrant
- May 31, 2024 (date) — Date of earliest event reported
- June 6, 2024 (date) — Date of report
FAQ
Who specifically departed from their roles at Allarity Therapeutics, Inc.?
The filing indicates the departure of directors or certain officers, but does not name them in the provided text.
Who were elected as new directors or appointed as officers?
The filing states that directors were elected and officers were appointed, but specific names are not detailed in the provided text.
What are the details of the compensatory arrangements for the newly appointed officers?
The filing mentions compensatory arrangements for certain officers, but the specific details are not included in the provided text.
What financial statements and exhibits are included with this 8-K filing?
The filing indicates that financial statements and exhibits are included, but their specific content is not detailed in the provided text.
What is the principal executive office address for Allarity Therapeutics, Inc.?
The principal executive offices are located at 24 School Street, 2nd Floor, Boston, MA 02108.
Filing Stats: 1,460 words · 6 min read · ~5 pages · Grade level 13 · Accepted 2024-06-06 08:54:31
Key Financial Figures
- $0.0001 — ch registered Common Stock, par value $0.0001 per share ALLR The Nasdaq Stock Mar
- $43,750 — Consultant shall receive a fixed fee of $43,750 per month for services rendered, payabl
- $100,000 — Consultant a one-time signing bonus of $100,000 (the "Signing Bonus") in recognition of
- $5,000 — s, provided that any expenses exceeding $5,000 require prior approval from the Company
Filing Documents
- ea0207367-8k_allarity.htm (8-K) — 35KB
- ea020736701ex10-1_allarity.htm (EX-10.1) — 85KB
- 0001213900-24-050209.txt ( ) — 317KB
- allr-20240531.xsd (EX-101.SCH) — 3KB
- allr-20240531_lab.xml (EX-101.LAB) — 33KB
- allr-20240531_pre.xml (EX-101.PRE) — 22KB
- ea0207367-8k_allarity_htm.xml (XML) — 4KB
02 Departure of Directors or Certain
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
02(e)
Item 5.02(e) As previously disclosed, Allarity Therapeutics, Inc., a Delaware corporation (the "Company") had entered into a one-year consultancy agreement (the "Consultancy Agreement") with Ljungaskog Consulting AB, a Swedish limited liability company (the "Consultant"), owned and managed by Thomas H. Jensen ("Mr. Jensen"), the Company's Chief Executive Officer. The Company had announced its intention to amend the Consultancy Agreement to clarify the scope of services to be provided by Mr. Jensen, increase his compensation, and extend the agreement's term to December 1, 2024. However, these amendments did not materialize. Instead, effective June 1, 2024 (the "Effective Date"), the Company entered into a Management Services Agreement (the "MSA") with the Consultant. The MSA supersedes and replaces the Consultancy Agreement in its entirety. Below is a summary of the material terms and conditions of the MSA. Services to be Performed . The Consultant, via Mr. Jensen, will deliver the scope of services typically expected of a Chief Executive Officer in a publicly held company within the Company's industry. Term. The MSA and all associated obligations will commence on the Effective Date and will continue until termination as per the provisions of the MSA, subject to any terms agreed by the parties to survive the termination of the MSA. Monthly Fee. The Consultant shall receive a fixed fee of $43,750 per month for services rendered, payable in two installments (the "Monthly Fee"). The fee is subject to adjustments based upon the Consultant's performance, with any increases being solely at the discretion of the Company. Signing Bonus . Within 30 days of the Effective Date, the Company has agreed to pay the Consultant a one-time signing bonus of $100,000 (the "Signing Bonus") in recognition of the Consultant's commitment to fullfill the obligations specified in the MSA and the Consultant's agreement not to terminate the engagement within one year of the Effective Dat
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits . Exhibit No. Description 10.1* Management Services Agreement, effective as of June 1, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) * Attachments have been omitted as per Item 601(a)(5) of Regulation S-K. The Company agrees to furnish copies of any omitted attachments to the SEC upon request. 2
SIGNATURES
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. Allarity Therapeutics, Inc. By: /s/ Thomas H. Jensen Thomas H. Jensen Chief Executive Officer Dated: June 6, 2024 3