Provectus Biopharma Appoints New Director and CMO

TL;DR

Provectus Biopharma brings on Dr. Craig Smith as new director and CMO, signing a new employment deal.

AI Summary

On August 14, 2024, Provectus Biopharmaceuticals, Inc. announced changes in its board of directors and executive compensation. Specifically, the company elected Dr. Craig M. H. Smith as a new director and appointed him to the Compensation Committee. Additionally, the company entered into a new employment agreement with Dr. Smith for the position of Chief Medical Officer, effective August 14, 2024.

Why It Matters

The appointment of a new director and Chief Medical Officer, along with a new employment agreement, signals potential strategic shifts or leadership changes within Provectus Biopharmaceuticals.

Risk Assessment

Risk Level: medium — Changes in key leadership and executive compensation can indicate internal restructuring or strategic pivots, which carry inherent risks.

Key Players & Entities

• Provectus Biopharmaceuticals, Inc. (company) — Registrant
• Dr. Craig M. H. Smith (person) — Newly elected director and Chief Medical Officer
• August 14, 2024 (date) — Effective date of director election and CMO appointment

FAQ

Key Financial Figures

• $2.862 — d Stock") at a price per share equal to $2.862 and the issuance of this Preferred Stoc
• $2,131,838 — Fees through September 30, 2024 will be $2,131,838.75, which would convert into 744,878 sh

Filing Documents

• form8-k.htm (8-K) — 35KB
• 0001493152-24-033053.txt ( ) — 199KB
• pvct-20240814.xsd (EX-101.SCH) — 3KB
• pvct-20240814_lab.xml (EX-101.LAB) — 33KB
• pvct-20240814_pre.xml (EX-101.PRE) — 22KB
• form8-k_htm.xml (XML) — 3KB

From the Filing

UNITED SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): August 14, 2024 PROVECTUS BIOPHARMACEUTICALS, INC. (Exact name of registrant as specified in charter) Delaware 001-36457 90-0031917 (State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification No.) 800 S. Gay Street , Suite 1610 , Knoxville , TN 37929 (Address of Principal Executive Offices) (Zip Code) (866) 594-5999 (Registrant's Telephone Number, Including Area Code) N/A (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions ( see General Instruction A.2. below): Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered None N/A N/A Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter). Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On August 14, 2024, the Board of Directors (the "Board") of Provectus Biopharmaceuticals, Inc. (the "Company") approved the conversion of accrued but unpaid directors' fees of current and former Board members owed through September 30, 2024 ("Accrued Fees") into the Company's Series D-1 Preferred Stock ("Preferred Stock") at a price per share equal to $2.862 and the issuance of this Preferred Stock to current and former Board members. The Preferred Stock is being issued to satisfy payment of outstanding cash fees owed to the Company's directors and is not being issued as a separate award under the Company's 2024 Equity Compensation Plan. The total amount of Accrued Fees through September 30, 2024 will be $2,131,838.75, which would convert into 744,878 shares of Preferred Stock, which would convert into 7,448,780 shares of Common Stock. On April 12, 2017, the Board approved the accrual of directors' fees until such time as the Board authorized the payment of director compensation, as reported on the Company's Form 8-K filed on April 18, 2017. 2 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. Date: August 19, 2024 PROVECTUS BIOPHARMACEUTICALS, INC. By: /s/ Heather Raines Heather Raines, CPA Chief Financial Officer 3

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View this 8-K filing on SEC EDGAR