Ocuphire Pharma Reports Officer Compensation Changes
Ticker: IRD · Form: 8-K · Filed: Feb 16, 2024 · CIK: 1228627
Sentiment: neutral
Topics: executive-compensation, corporate-governance, officer-changes
TL;DR
**Ocuphire Pharma just filed an 8-K about executive compensation and potential officer changes, keep an eye on leadership shifts!**
AI Summary
Ocuphire Pharma, Inc. filed an 8-K on February 16, 2024, reporting an event that occurred on February 12, 2024. The filing pertains to changes in compensatory arrangements for certain officers and potentially the departure or election of directors or officers. The company is based in Farmington Hills, MI, and operates under the SIC code 2834 (Pharmaceutical Preparations).
Why It Matters
Changes in executive compensation and officer appointments can signal shifts in company strategy or financial health, impacting investor confidence and future performance.
Risk Assessment
Risk Level: medium — Changes in executive compensation or leadership can introduce uncertainty regarding future company direction and stability.
Key Players & Entities
- Ocuphire Pharma, Inc. (company) — Registrant
- February 12, 2024 (date) — Date of earliest event reported
- February 16, 2024 (date) — Filing date
- Delaware (location) — State of incorporation
- 37000 Grand River Avenue, Suite 120, Farmington Hills, MI 48335 (location) — Principal executive office address
FAQ
What was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing occurred on February 12, 2024.
What is the primary business address of Ocuphire Pharma, Inc.?
The primary business address of Ocuphire Pharma, Inc. is 37000 Grand River Avenue, Suite 120, Farmington Hills, MI 48335.
What is Ocuphire Pharma, Inc.'s state of incorporation?
Ocuphire Pharma, Inc. is incorporated in Delaware.
What specific items were reported under Item 5.02 in this 8-K?
Item 5.02 covers "Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers."
What is the SIC code for Ocuphire Pharma, Inc.?
Ocuphire Pharma, Inc.'s Standard Industrial Classification (SIC) code is 2834, which corresponds to Pharmaceutical Preparations.
Filing Stats: 1,235 words · 5 min read · ~4 pages · Grade level 11.6 · Accepted 2024-02-16 16:03:00
Key Financial Figures
- $0.0001 — ange on which registered Common Stock, $0.0001 par value per share OCUP The Nasdaq
- $410,000 — Jhaveri of an annualized base salary of $410,000, (ii) an option to purchase 210,000 sha
Filing Documents
- ef20021883_8k.htm (8-K) — 38KB
- ef20021883_ex10-1.htm (EX-10.1) — 108KB
- ef20021883_ex10-2.htm (EX-10.2) — 17KB
- ef20021883_ex99-1.htm (EX-99.1) — 21KB
- image0.jpg (GRAPHIC) — 6KB
- 0001140361-24-008352.txt ( ) — 362KB
- ocup-20240212.xsd (EX-101.SCH) — 4KB
- ocup-20240212_lab.xml (EX-101.LAB) — 22KB
- ocup-20240212_pre.xml (EX-101.PRE) — 16KB
- ef20021883_8k_htm.xml (XML) — 4KB
02
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On February 14, 2024, Ocuphire Pharma, Inc., (the "Company") announced the appointment of Nirav Jhaveri as the Company's Chief Financial Officer ("CFO"), effective February 12, 2024 (the "Effective Date"). Mr. Jhaveri will serve as the Company's Principal Financial Officer, a position formerly held by Amy Rabourn, the Company's Senior Vice President of Finance, on an interim basis during the search for a new CFO. Mr. Jhaveri, age 46, previously served as the Chief Financial Officer of Insilico Medicine, an artificial intelligence-based biotechnology research and development company, a position he held from 2021 to 2023. Prior to Insilico Medicine, he served as Chief Financial Officer of Journey Medical Corporation, a commercial-stage biopharmaceutical company, from 2020 to 2021. Prior to that position, Mr. Jhaveri was Vice President, Business Development, at Fortress Biotech, a biopharmaceutical company with commercial-stage products and development-stage product candidates, from 2014 to 2020. Earlier in his career, he held roles in equity research at Citigroup and investment banking at Bank of America. He earned his B.A. in Chemistry and Economics from the University of Pennsylvania and his MBA from New York University's Stern School of Business. Mr. Jhaveri is a Chartered Financial Analyst (CFA) charterholder. In connection with Mr. Jhaveri's appointment as the Company's Chief Financial Officer, the Company entered into an employment agreement with Mr. Jhaveri on February 13, 2024 and the first amendment thereto on February 16, 2024 (such employment agreement, as amended, the "Employment Agreement"), in each case effective as of February 12, 2024. The Employment Agreement provides for (i) the payment to Mr. Jhaveri of an annualized base salary of $410,000, (ii) an option to purchase 210,000 shares of Com
Financial Statements and Exhibits
Financial Statements and Exhibits. Exhibit No. Description 10.1 Employment Agreement, dated February 13, 2024, by and between the Company and Nirav Jhaveri 10.2 First Amendment to Employment Agreement, entered into on February 16, 2024, by and between the Company and Nirav Jhaveri 99.1 Press Release, dated February 14, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) SIGNATURE 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. Dated: February 16, 2024 OCUPHIRE PHARMA, INC. By: /s/ Dr. George Magrath Name: Dr. George Magrath Title: Chief Executive Officer