SOLENO THERAPEUTICS Reports Executive Changes & Compensation on Jan 4
Ticker: SLNO · Form: 8-K · Filed: Jan 5, 2024 · CIK: 1484565
| Field | Detail |
|---|---|
| Company | Soleno Therapeutics Inc (SLNO) |
| Form Type | 8-K |
| Filed Date | Jan 5, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.001 |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: executive-changes, compensation, corporate-governance
TL;DR
**SOLENO THERAPEUTICS filed an 8-K on Jan 4, signaling executive changes or new compensation deals.**
AI Summary
SOLENO THERAPEUTICS INC filed an 8-K on January 4, 2024, to report a 'Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers'. This filing indicates changes in the company's leadership or executive compensation structure. For investors, this matters because changes in executive leadership or compensation can signal shifts in company strategy, financial health, or future performance, potentially impacting the stock price (SLNO).
Why It Matters
Changes in executive leadership or compensation can signal strategic shifts or financial health, directly influencing investor confidence and stock valuation.
Risk Assessment
Risk Level: medium — Changes in executive leadership can introduce uncertainty regarding future company direction and stability, warranting a medium risk assessment.
Analyst Insight
A smart investor would monitor subsequent filings or press releases from SOLENO THERAPEUTICS INC for specific details regarding the executive changes or compensation arrangements, as these details will clarify the impact on the company's strategic direction and financial outlook.
Key Players & Entities
- SOLENO THERAPEUTICS INC (company) — registrant
- January 4, 2024 (date) — date of earliest event reported
- Delaware (company) — state of incorporation
- 001-36593 (company) — Commission File No.
- 77-0523891 (company) — IRS Employer Identification Number
- 203 Redwood Shores Pkwy, Suite 500, Redwood City, CA 94065 (company) — principal executive offices address
- 650-213-8444 (company) — registrant's telephone number
- SLNO (company) — trading symbol on NASDAQ
Forward-Looking Statements
- The company will announce specific details regarding the executive changes or compensation arrangements within the next 30 days. (SOLENO THERAPEUTICS INC) — medium confidence, target: 2024-02-04
FAQ
What was the specific date of the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing occurred on January 4, 2024.
What is the primary purpose of this 8-K filing by SOLENO THERAPEUTICS INC?
The primary purpose of this 8-K filing is to report 'Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers'.
What is the trading symbol for SOLENO THERAPEUTICS, INC. and on which exchange is it registered?
SOLENO THERAPEUTICS, INC.'s trading symbol is SLNO, and it is registered on NASDAQ.
Where are SOLENO THERAPEUTICS, INC.'s principal executive offices located?
SOLENO THERAPEUTICS, INC.'s principal executive offices are located at 203 Redwood Shores Pkwy, Suite 500, Redwood City, CA 94065.
What is the Commission File Number for SOLENO THERAPEUTICS, INC.?
The Commission File Number for SOLENO THERAPEUTICS, INC. is 001-36593.
Filing Stats: 567 words · 2 min read · ~2 pages · Grade level 14.8 · Accepted 2024-01-05 16:16:02
Key Financial Figures
- $0.001 — nge on which registered Common Stock, $0.001 par value SLNO NASDAQ Indicate by
Filing Documents
- d111987d8k.htm (8-K) — 30KB
- 0001193125-24-003380.txt ( ) — 149KB
- slno-20240104.xsd (EX-101.SCH) — 3KB
- slno-20240104_lab.xml (EX-101.LAB) — 18KB
- slno-20240104_pre.xml (EX-101.PRE) — 11KB
- d111987d8k_htm.xml (XML) — 3KB
02
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. (e) Named Executive Officer Compensation On January 4, 2024, the Board of Directors of Soleno Therapeutics, Inc., (the "Company") following a review of the Company's executive compensation program by its Compensation Committee and upon its recommendations, approved certain increases to the base salaries for fiscal year 2024, the payment of cash bonuses for fiscal year 2023 and certain equity awards for the Company's named executive officers as follows: Name and Principal Position Fiscal Year 2024 Annual Base Salary (1) Fiscal Year 2023 Cash Bonus Award Options (2) Restricted Stock Awards (3) Anish Bhatnagar Chief Executive Officer $ 640,000 $ 500,000 100,000 150,000 James Mackaness Chief Financial Officer $ 460,000 $ 240,000 37,000 56,000 Patricia Hirano Vice President of Regulatory Affairs $ 375,000 $ 153,000 16,000 24,000 (1) Effective as of January 1, 2024. (2) Fifty percent (50%) of the shares subject to the Option shall vest on the first anniversary of January 1, 2024 (the Vesting Commencement Date), and one twenty-fourth (1/24th) of the remaining shares subject to the Option shall vest each month thereafter on the same day of the month as the Vesting Commencement Date. (3) Twenty-five percent (25%) of the RSU shares shall vest on each of March 31, 2024, June 30, 2024, September 30, 2024 and December 31, 2024. 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. SOLENO THERAPEUTICS, INC. Date: January 5, 2024 By: /s/ Anish Bhatnagar Anish Bhatnagar Chief Executive Officer 3