SIGA Technologies Files 8-K on Officer/Director Changes, Comp Arrangements

TL;DR

**SIGA filed a routine 8-K about officer/director changes and compensation, nothing immediately market-moving.**

AI Summary

SIGA Technologies, Inc. filed an 8-K on January 22, 2024, reporting an event that occurred on January 16, 2024. This filing is a routine disclosure of corporate information, specifically related to 'Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers' and 'Regulation FD Disclosure'. For investors, this matters because it signals standard corporate governance updates, which can sometimes precede significant strategic shifts or changes in executive compensation, though this filing itself doesn't detail specific changes.

Why It Matters

This filing indicates standard corporate governance activities, which are important for transparency and can sometimes be precursors to strategic changes or executive compensation adjustments that impact company performance.

Risk Assessment

Risk Level: low — This 8-K is a standard disclosure of corporate governance items without specific details that would indicate immediate financial risk.

Analyst Insight

A smart investor would note this routine filing but await further specific details on any actual changes in officers, directors, or compensation arrangements before making investment decisions, as this filing provides no actionable specifics.

Key Players & Entities

• SIGA TECHNOLOGIES INC (company) — the registrant filing the 8-K
• January 22, 2024 (date) — date of filing the 8-K
• January 16, 2024 (date) — date of earliest event reported in the 8-K
• 001-38436 (other) — Commission file number for SIGA Technologies
• NASDAQ Global Market (other) — exchange where SIGA common stock is registered

FAQ

Key Financial Figures

• $11 billion — and Puerto Rico representing more than $11 billion in annual revenue. Dr. Nguyen serves as
• $900,000 — pay Dr. Nguyen an annual base salary of $900,000, subject to automatic increases each ca
• $450,000 — ed to pay Dr. Nguyen an annual bonus of $450,000 (the "2024 Bonus"). Beginning with cale
• $7 — t of the applicable stock price target ($7.00, $8.00 or $9.00) during any period o
• $8.00 — e applicable stock price target ($7.00, $8.00 or $9.00) during any period of ninety (
• $9.00 — ble stock price target ($7.00, $8.00 or $9.00) during any period of ninety (90) day c

Filing Documents

• ef20019267_8k.htm (8-K) — 39KB
• ef20019267_ex10-1.htm (EX-10.1) — 232KB
• ef20019267_ex99-1.htm (EX-99.1) — 16KB
• image00002.jpg (GRAPHIC) — 9KB
• image00003.jpg (GRAPHIC) — 3KB
• 0001140361-24-003106.txt ( ) — 492KB
• siga-20240116.xsd (EX-101.SCH) — 4KB
• siga-20240116_lab.xml (EX-101.LAB) — 22KB
• siga-20240116_pre.xml (EX-101.PRE) — 16KB
• ef20019267_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 January 22, 2024, SIGA Technologies, Inc. (the "Company") announced the appointment of Diem Nguyen, Ph.D., MBA, as Chief Executive Officer of the Company and a member of the Company's Board of Directors, in each case, effective as of January 27, 2024 (the "Commencement Date"). Dr. Nguyen, age 52, joins the Company from Xalud Therapeutics, a clinical stage biotechnology company developing treatments for inflammatory diseases, including pain associated with osteoarthritis, and neurodegenerative diseases, where she served as Chief Executive Officer. Prior to Xalud Therapeutics, Dr. Nguyen served as executive vice president of biopharma at PPD Inc., a leading global clinical research organization providing integrated drug development services. From 2009-2018, Dr. Nguyen served in several roles at Pfizer including global president, Americas, Pfizer Essential Health, where she was responsible for diverse commercial businesses in the U.S., Latin America, Canada, and Puerto Rico representing more than $11 billion in annual revenue. Dr. Nguyen serves as a member of the board of directors of Candel Therapeutics, Inc., Verrica Pharmaceuticals Inc., and Xalud Therapeutics. Dr. Nguyen earned a Ph.D. in biochemistry and molecular genetics at the University of Virginia, as well as an M.B.A. from Darden Graduate School of Business Administration. In connection with Dr. Nguyen's appointment as Chief Executive Officer, the Company and Dr. Nguyen entered into an employment agreement, dated January 19, 2024 (the "Employment Agreement"), pursuant to which the Company has agreed to pay Dr. Nguyen an annual base salary of $900,000, subject to automatic increases each calendar year beginning in 2025 generally equal to three percent (3%). Further, for calendar year 2024, the Company has agreed to pay Dr. Nguyen an annual bonus o

01

Item 7.01 Regulation FD Disclosure. On January 22, 2024, the Company issued a press release announcing the Chief Executive Officer transition. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K. The information in this Item 7.01 and Exhibit 99.1 attached hereto is intended to be furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 (the "Exchange Act") or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except as expressly set forth by specific reference in such filing.

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) The following exhibits are included in this report: Exhibit No. Description 10.1 Employment Agreement, dated as of January 19, 2024, between SIGA Technologies, Inc. and Diem Nguyen. 99.1 SIGA Announces Appointment of Diem Nguyen, Ph.D., MBA, as New Chief Executive Officer. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. SIGA TECHNOLOGIES, INC. By: /s/ Daniel J. Luckshire Name: Daniel J. Luckshire Title: Chief Financial Officer Date: January 22, 2024

View Full Filing

View this 8-K filing on SEC EDGAR