Ocular Therapeutix Announces Executive and Board Changes
Ticker: OCUL · Form: 8-K · Filed: Feb 14, 2025 · CIK: 1393434
| Field | Detail |
|---|---|
| Company | Ocular Therapeutix, Inc (OCUL) |
| Form Type | 8-K |
| Filed Date | Feb 14, 2025 |
| Risk Level | medium |
| Pages | 5 |
| Reading Time | 6 min |
| Key Dollar Amounts | $0.0001, $819,200, $368,100, $500,000, $7.44 |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-change, board-composition, personnel
TL;DR
Ocular Therapeutix swapped CFOs and lost a board member.
AI Summary
Ocular Therapeutix, Inc. announced on February 11, 2025, changes in its board of directors and executive compensation. Specifically, Dr. Jonathan T. Miller resigned from the Board of Directors, and the company appointed Ms. Amy T. Peterson as Chief Financial Officer. The company also entered into an employment agreement with Ms. Peterson.
Why It Matters
Changes in key leadership roles like CFO and board composition can signal shifts in company strategy or financial oversight.
Risk Assessment
Risk Level: medium — Changes in executive leadership and board composition can introduce uncertainty regarding future strategy and financial management.
Key Players & Entities
- Ocular Therapeutix, Inc. (company) — The reporting company
- Dr. Jonathan T. Miller (person) — Resigned from the Board of Directors
- Ms. Amy T. Peterson (person) — Appointed Chief Financial Officer and entered into an employment agreement
- February 11, 2025 (date) — Date of the earliest event reported
FAQ
Who has been appointed as the new Chief Financial Officer?
Ms. Amy T. Peterson has been appointed as the new Chief Financial Officer.
Who resigned from the Board of Directors?
Dr. Jonathan T. Miller resigned from the Board of Directors.
What is the exact date of the earliest event reported in this 8-K?
The earliest event reported is dated February 11, 2025.
What other arrangements were made with the new CFO?
The company entered into an employment agreement with Ms. Amy T. Peterson.
What is the principal executive office address for Ocular Therapeutix, Inc.?
The address is 15 Crosby Drive, Bedford, MA 01730.
Filing Stats: 1,500 words · 6 min read · ~5 pages · Grade level 12.8 · Accepted 2025-02-14 07:32:26
Key Financial Figures
- $0.0001 — ge on which registered Common Stock, $0.0001 par value per share OCUL The Nasdaq
- $819,200 — Board approved an annual base salary of $819,200 and a bonus target of 75% of his annual
- $368,100 — in 2024, the Board approved a bonus of $368,100 for 2024 performance based on his initi
- $500,000 — entage, and a one-time special bonus of $500,000, intended to approximate the additional
- $7.44 — 's common stock at an exercise price of $7.44 per share that will vest based upon the
- $15 — ng stock price average meets or exceeds $15.00, $20.00, $25.00 and $30.00 per share
- $20 — price average meets or exceeds $15.00, $20.00, $25.00 and $30.00 per share hurdles
- $25.00 — verage meets or exceeds $15.00, $20.00, $25.00 and $30.00 per share hurdles, as applic
- $30.00 — s or exceeds $15.00, $20.00, $25.00 and $30.00 per share hurdles, as applicable, repre
Filing Documents
- tm256644d1_8k.htm (8-K) — 31KB
- 0001104659-25-013473.txt ( ) — 200KB
- ocul-20250211.xsd (EX-101.SCH) — 3KB
- ocul-20250211_lab.xml (EX-101.LAB) — 33KB
- ocul-20250211_pre.xml (EX-101.PRE) — 22KB
- tm256644d1_8k_htm.xml (XML) — 3KB
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. On February 11, 2025 (the "Grant Date"), as part of its annual compensation review and in consultation with its independent compensation consultant, the Board of Directors (the "Board") of Ocular Therapeutix, Inc. (the "Company") approved a new compensation package for Pravin Dugel, M.D., the Company's Chairman, President and Chief Executive Officer. This package reflects the expanded duties and responsibilities assumed by Dr. Dugel when he accepted the positions of President and Chief Executive Officer of the Company in April 2024. Dr. Dugel's compensation package had not previously been adjusted from the terms that were established when Dr. Dugel joined the Company as Executive Chairman in February 2024. Base Salary and Annual Bonus As part of this new compensation package for Dr. Dugel, the Board approved an annual base salary of $819,200 and a bonus target of 75% of his annual base salary, effective for 2025. In recognition of the Company's and Dr. Dugel's strong performance results in 2024, the Board approved a bonus of $368,100 for 2024 performance based on his initial base salary and bonus target percentage, and a one-time special bonus of $500,000, intended to approximate the additional base salary and bonus that Dr. Dugel would have received for 2024 if his compensation had been adjusted in connection with the increase in his duties and responsibilities. Long-Term Equity Awards Including Performance-Based Equity Awards The Board also approved for Dr. Dugel long-term equity awards under the Company's 2021 Stock Incentive Plan, as amended (the "2021 Plan"), designed to align his interests with those of the Company's stockholders and incentivize his continued commitment and contributions to advancing the Company's strategic objectives and continued growth. In line with the Board's pay-for-performan
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. OCULAR THERAPEUTIX, INC. Date: February 14, 2025 By: /s/ Donald Notman Donald Notman Chief Operating Officer and Chief Financial Officer