Armata Pharmaceuticals Appoints New CMO, Adds Directors
Ticker: ARMP · Form: 8-K · Filed: Jul 25, 2024 · CIK: 921114
| Field | Detail |
|---|---|
| Company | Armata Pharmaceuticals, INC. (ARMP) |
| Form Type | 8-K |
| Filed Date | Jul 25, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $456,800, $300,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: management-change, board-election, personnel-change
TL;DR
Armata Pharma brings in new CMO and board members, St. Clair out.
AI Summary
Armata Pharmaceuticals, Inc. announced on July 22, 2024, the appointment of Dr. Paul L. Bolte as Chief Medical Officer and the election of Dr. Bolte and Ms. Jennifer L. D. Allison to its Board of Directors. The company also reported the departure of Dr. Steven L. St. Clair from the Board of Directors. These changes are effective immediately.
Why It Matters
The appointment of a new Chief Medical Officer and board members suggests a strategic shift or strengthening of leadership within Armata Pharmaceuticals, potentially impacting its drug development and clinical trial strategies.
Risk Assessment
Risk Level: medium — Changes in key executive and board positions can indicate internal shifts or strategic realignments that may affect the company's future performance and direction.
Key Players & Entities
- Armata Pharmaceuticals, Inc. (company) — Registrant
- Dr. Paul L. Bolte (person) — Appointed Chief Medical Officer and elected to Board of Directors
- Ms. Jennifer L. D. Allison (person) — Elected to Board of Directors
- Dr. Steven L. St. Clair (person) — Departed from Board of Directors
- July 22, 2024 (date) — Effective date of appointments and departures
FAQ
Who has been appointed as the new Chief Medical Officer of Armata Pharmaceuticals?
Dr. Paul L. Bolte has been appointed as the new Chief Medical Officer of Armata Pharmaceuticals.
Who were elected to the Board of Directors?
Dr. Paul L. Bolte and Ms. Jennifer L. D. Allison were elected to the Board of Directors.
Who has departed from the Board of Directors?
Dr. Steven L. St. Clair has departed from the Board of Directors.
What is the effective date of these changes?
The changes are effective as of July 22, 2024.
What was Armata Pharmaceuticals' former name?
Armata Pharmaceuticals, Inc. was formerly known as AmpliPhi Biosciences Corp.
Filing Stats: 766 words · 3 min read · ~3 pages · Grade level 11.5 · Accepted 2024-07-25 16:15:10
Key Financial Figures
- $456,800 — 2023 and that her base salary has been $456,800 since her promotion. Additionally, comm
- $300,000 — o have a grant date fair value equal to $300,000), as determined by the Company's board
Filing Documents
- tm2420145d1_8k.htm (8-K) — 29KB
- tm2420145d1_ex10-1.htm (EX-10.1) — 19KB
- tm2420145d1_ex10-2.htm (EX-10.2) — 66KB
- tm2420145d1_ex10-2img001.jpg (GRAPHIC) — 7KB
- tm2420145d1_ex10-2img002.jpg (GRAPHIC) — 5KB
- 0001104659-24-082637.txt ( ) — 319KB
- armp-20240722.xsd (EX-101.SCH) — 3KB
- armp-20240722_lab.xml (EX-101.LAB) — 33KB
- armp-20240722_pre.xml (EX-101.PRE) — 22KB
- tm2420145d1_8k_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. (e) On July 22, 2024, Mina Pastagia, M.D. (" Dr. Pastagia ") and Armata Pharmaceuticals, Inc. (the " Company ") entered into an agreement (the " Amendment "), which amended certain terms of Dr. Pastagia's Employment Agreement with the Company, dated September 22, 2020 (the " Employment Agreement "). The Amendment updates the Employment Agreement to reflect the fact that Dr. Pastagia has been serving as the Company's Chief Medical Officer since January 1, 2023 and that her base salary has been $456,800 since her promotion. Additionally, commencing with the 2024 fiscal year, Dr. Pastagia will have a target annual bonus opportunity equal to 50% of her annual base salary, with the actual bonus payable in respect of any fiscal year dependent on actual performance as determined by the Company's board of directors or compensation committee. Additionally, Dr. Pastagia will be eligible for additional grants pursuant to the Company's 2016 Equity Incentive Plan (or any successor plan) commencing in 2025, with the actual size of any grant to be consistent with her position as the Company's Chief Medical Officer (with the current intent being for any such award to have a grant date fair value equal to $300,000), as determined by the Company's board of directors or compensation committee. In the event that Dr. Pastagia's employment is terminated by the Company without "cause" or if she resigns for "good reason" (in each case as defined in the Employment Agreement), then, subject to her execution of a release and compliance with her post-termination restrictive covenants, she will be entitled to a continuation of her base salary for 12 months following such termination. The foregoing description does not constitute a complete summary of the terms of the Amendment or the Employment Agreement and is qualified in its entiret
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 10.1 Amendment No. 1, dated as of July 22, 2024, to that certain Employment Letter Agreement by and between Mina Pastagia, M.D. and Armata Pharmaceuticals, Inc., dated as of September 22, 2020. 10.2 Employment Letter Agreement by and between Mina Pastagia, M.D. and Armata Pharmaceuticals, Inc., dated as of September 22, 2020. 104 Cover Page Interactive Data File (embedded within Inline XBRL document). - 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. Date: July 25, 2024 Armata Pharmaceuticals, Inc. By: /s/ Richard Rychlik Name: Richard Rychlik Title: Principal Financial Officer and Corporate Controller - 3 -