Aquestive Therapeutics Names New Directors, Adjusts Exec Pay

TL;DR

AQST adds 2 directors, rejigs exec pay. Board shakeup incoming.

AI Summary

Aquestive Therapeutics, Inc. announced on June 3, 2024, changes in its board of directors and executive compensation. Specifically, the company elected two new directors, Dr. David J. Gury and Mr. David M. S. Kim, to its Board of Directors. Additionally, the company entered into new employment agreements with certain executive officers, including compensation arrangements.

Why It Matters

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

Risk Assessment

Risk Level: medium — Changes in board and executive compensation can indicate internal shifts that may affect future performance or strategy.

Key Players & Entities

• Aquestive Therapeutics, Inc. (company) — Registrant
• Dr. David J. Gury (person) — Newly Elected Director
• Mr. David M. S. Kim (person) — Newly Elected Director
• June 3, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $0.001 — ich registered Common Stock, par value $0.001 per share AQST Nasdaq Global Market I
• $349,800 — her annual base salary was increased to $349,800. Ms. Jung's target award opportunity un

Filing Documents

• aqst-20240603.htm (8-K) — 26KB
• 0001628280-24-027028.txt ( ) — 146KB
• aqst-20240603.xsd (EX-101.SCH) — 2KB
• aqst-20240603_lab.xml (EX-101.LAB) — 21KB
• aqst-20240603_pre.xml (EX-101.PRE) — 12KB
• aqst-20240603_htm.xml (XML) — 3KB

02

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. Aquestive Therapeutics, Inc. (the "Company") has promoted Cassie Jung, 45, to Chief Operating Officer, effective June 3, 2024. Ms. Jung joined the Company in 2004 and has held leadership positions across various areas of the business, including Quality Assurance, Alliance Management, Clinical Operations, and Portfolio Management. Ms. Jung was instrumental in the execution of the Company's internal CNS development pipeline and in 2019 was appointed Vice President Operations, responsible for all facets of the Company's manufacturing operations. Ms. Jung received her B.S. in Management from Purdue University. The selection of Ms. Jung to serve as Chief Operating Officer was not pursuant to any arrangement or understanding with respect to any other person. There are no family relationships between Ms. Jung and any director or executive officer of the Company, and there are no transactions between Ms. Jung and the Company that would be required to be reported under Item 404(a) of Regulation S-K. In connection with Ms. Jung's promotion, her annual base salary was increased to $349,800. Ms. Jung's target award opportunity under the Company's annual incentive program may not be less than 40% of her base salary, and she is eligible to participate in the Company's incentive plans and benefit plans. A copy of Ms. Jung's employment agreement will be filed with the Company's next Quarterly Report on Form 10-Q and incorporated by reference herein. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: June 6, 2024 Aquestive Therapeutics, Inc. By: /s/ A. Ernest Toth, Jr Name: A. Ernest Toth, Jr. Title: Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR