Sunshine Biopharma Announces Board & Officer Changes
Ticker: SBFMW · Form: 8-K · Filed: Jan 15, 2025 · CIK: 1402328
| Field | Detail |
|---|---|
| Company | Sunshine Biopharma Inc. (SBFMW) |
| Form Type | 8-K |
| Filed Date | Jan 15, 2025 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.001, $400,000, $500,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: management-change, board-of-directors, officer-appointment
Related Tickers: SBFM
TL;DR
Sunshine Biopharma shakes up leadership, new directors and officers appointed.
AI Summary
Sunshine Biopharma Inc. announced on January 13, 2025, a significant event related to its board of directors and officer appointments. The filing details the departure of certain directors and the election of new ones, alongside the appointment of specific officers and updates to compensatory arrangements. This report is filed under Item 5.02 of the 8-K form.
Why It Matters
Changes in board composition and executive appointments can signal shifts in company strategy, leadership, and future direction.
Risk Assessment
Risk Level: medium — Board and executive changes can introduce uncertainty regarding future strategy and operations.
Key Players & Entities
- Sunshine Biopharma Inc. (company) — Filer of the 8-K report
- January 13, 2025 (date) — Earliest event date reported
- Item 5.02 (filing_item) — Details departure of directors, election of directors, appointment of officers, and compensatory arrangements
FAQ
What specific roles have been affected by the director and officer changes?
The filing indicates changes related to the departure of directors, election of directors, appointment of certain officers, and updates to compensatory arrangements, as detailed under Item 5.02.
Are there any financial implications mentioned regarding these appointments or departures?
The filing mentions 'Compensatory Arrangements of Certain Officers' under Item 5.02, suggesting potential financial implications, but specific dollar amounts are not detailed in the provided text.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing was on January 13, 2025.
What is the primary purpose of this 8-K filing?
This 8-K filing is a Current Report detailing significant corporate events, specifically concerning the departure and election of directors, appointment of officers, and related compensatory arrangements.
What is Sunshine Biopharma Inc.'s Standard Industrial Classification (SIC) code?
Sunshine Biopharma Inc.'s Standard Industrial Classification (SIC) code is 2834, which corresponds to Pharmaceutical Preparations.
Filing Stats: 734 words · 3 min read · ~2 pages · Grade level 10 · Accepted 2025-01-15 08:30:09
Key Financial Figures
- $0.001 — ch Registered Common Stock, par value $0.001 SBFM The Nasdaq Stock Market LLC
- $400,000 — eceive an initial annual base salary of $400,000 CAD, which will increase annually by th
- $500,000 — Roy will receive a severance payment of $500,000 CAD, plus the minimum notice of termina
Filing Documents
- sunshine_8k.htm (8-K) — 30KB
- sunshine_ex1001.htm (EX-10.1) — 40KB
- sunshine_ex9901.htm (EX-99.1) — 11KB
- image_003.jpg (GRAPHIC) — 6KB
- 0001683168-25-000357.txt ( ) — 317KB
- sbfm-20240113.xsd (EX-101.SCH) — 3KB
- sbfm-20240113_def.xml (EX-101.DEF) — 26KB
- sbfm-20240113_lab.xml (EX-101.LAB) — 36KB
- sbfm-20240113_pre.xml (EX-101.PRE) — 25KB
- sunshine_8k_htm.xml (XML) — 5KB
02 Departure of Directors or Principal
Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers. On January 13, 2025, Sunshine Biopharma Inc. (the "Company") appointed Mr. Michel Roy as the Company's Chief Commercial Officer. Pursuant to his employment agreement, a copy of which is included herein as Exhibit 10.1 and incorporated herein as if set forth, Mr. Roy will receive an initial annual base salary of $400,000 CAD, which will increase annually by the greater of 5% or the increase in the US Consumer Price Index. In the event the Company terminates Mr. Roy's employment without cause, Mr. Roy will receive a severance payment of $500,000 CAD, plus the minimum notice of termination (or compensation in lieu thereof) to which he would be entitled under applicable law. The employment agreement has an indefinite term. Mr. Michel Roy, age 57, has held various leadership roles in business development, licensing, sales and operations management. From July 2020 to November 2024, Mr. Roy founded and led the Canadian operations of Shilpa Medicare Ltd., a large multinational pharmaceutical company headquartered in Karnataka, India. From 2014 to June 2020, Mr. Roy was Vice President, Business Development and Sales for Intas Pharmaceuticals Ltd., a major pharmaceutical company having its head office in Ahmedabad (India) with a strong presence in over 85 countries. During his tenure at Intas, Mr. Roy was responsible for strategic planning, business development, sales, financial management, and regulatory affairs. At the beginning of his career, he worked as a consultant and had positions with various international Contract Research Organization companies. Mr. Roy received his Executive Master of Business Administration (EMBA) at John Molson School of Business in 2010 and his Master of Science (M.Sc.) at Universit de Montral in 1999. He also received a Bachelor of Commerce, Major in Economics, at Concordia University in 1990. On January 15, 2025, the Company i
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 10.1 Employment Agreement between Sunshine Biopharma Inc. and Michel Roy 99.1 Press release announcing the appointment of Mr. Michel Roy as Chief Commercial Officer 104 Cover Page Interactive Data File (embedded within the 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. Dated: January 15, 2025 SUNSHINE BIOPHARMA INC. By: /s/ Dr. Steve N. Slilaty Dr. Steve N. Slilaty, Chief Executive Officer 3