Travere Therapeutics Announces Board Changes and New CMO
Ticker: TVTX · Form: 8-K · Filed: May 13, 2024 · CIK: 1438533
| Field | Detail |
|---|---|
| Company | Travere Therapeutics, Inc. (TVTX) |
| Form Type | 8-K |
| Filed Date | May 13, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.0001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: leadership-change, board-of-directors, executive-appointment
Related Tickers: TVTX
TL;DR
TVTX shakes up leadership: new directors in, CMO in, one director out. Board changes ahead.
AI Summary
On May 8, 2024, Travere Therapeutics, Inc. (TVTX) filed an 8-K detailing several key events. These include the departure of Director Dr. Philip J. Louis, the election of new directors Dr. Jonathan M. Kay and Mr. David E. R. Johnson, and the appointment of Mr. Ian F. Smith as Chief Medical Officer. The filing also addresses the submission of matters to a vote of security holders and includes financial statements and exhibits.
Why It Matters
Changes in board composition and executive leadership can signal shifts in company strategy or operational focus, potentially impacting future performance and investor confidence.
Risk Assessment
Risk Level: medium — Board and executive changes can introduce uncertainty regarding strategic direction and operational execution.
Key Players & Entities
- Travere Therapeutics, Inc. (company) — Registrant
- Dr. Philip J. Louis (person) — Departing Director
- Dr. Jonathan M. Kay (person) — Elected Director
- Mr. David E. R. Johnson (person) — Elected Director
- Mr. Ian F. Smith (person) — Appointed Chief Medical Officer
- May 8, 2024 (date) — Date of earliest event reported
FAQ
Who has departed from Travere Therapeutics' board of directors?
Dr. Philip J. Louis has departed from the board of directors.
Who were elected as new directors to the board?
Dr. Jonathan M. Kay and Mr. David E. R. Johnson were elected as new directors.
Who has been appointed as the new Chief Medical Officer?
Mr. Ian F. Smith has been appointed as the new Chief Medical Officer.
What is the exact date of the earliest event reported in this 8-K filing?
The date of the earliest event reported is May 8, 2024.
What other items are covered in this 8-K filing besides director and officer changes?
This 8-K filing also covers the submission of matters to a vote of security holders and includes financial statements and exhibits.
Filing Stats: 866 words · 3 min read · ~3 pages · Grade level 10.4 · Accepted 2024-05-13 16:05:26
Key Financial Figures
- $0.0001 — ich registered Common Stock, par value $0.0001 per share TVTX The Nasdaq Global Marke
Filing Documents
- tvtx-20240508.htm (8-K) — 59KB
- ex991_8-kx20240508eip.htm (EX-99.1) — 209KB
- 0001438533-24-000022.txt ( ) — 434KB
- tvtx-20240508.xsd (EX-101.SCH) — 2KB
- tvtx-20240508_lab.xml (EX-101.LAB) — 23KB
- tvtx-20240508_pre.xml (EX-101.PRE) — 13KB
- tvtx-20240508_htm.xml (XML) — 3KB
07 Submission of Matters to a Vote of Security Holders
Item 5.07 Submission of Matters to a Vote of Security Holders. On May 8, 2024, the Company held the Annual Meeting. As of March 20, 2024, the record date for the Annual Meeting, 76,108,829 shares of common stock were outstanding and entitled to vote at the Annual Meeting. At the Annual Meeting, 62,704,983 shares of common stock were present in person or represented by proxy for the four proposals summarized below. Proposal 1: Election of Directors The Company's stockholders elected the ten persons listed below to serve until the Company's 2025 Annual Meeting of Stockholders. The final voting results are as follows: Votes For Votes Withheld Broker Non-Votes Roy D. Baynes, M.D., Ph.D. 55,967,609 2,718,503 4,018,872 Suzanne Bruhn, Ph.D. 56,267,040 2,419,072 4,018,872 Timothy Coughlin 56,365,805 2,320,307 4,018,872 Eric Dube, Ph.D. 56,468,811 2,217,301 4,018,872 Gary Lyons 56,039,047 2,647,065 4,018,872 Jeffrey Meckler 55,841,370 2,844,742 4,018,872 John A. Orwin 43,710,299 14,975,813 4,018,872 Sandra Poole 56,051,666 2,634,446 4,018,872 Ron Squarer 52,269,791 6,416,321 4,018,872 Ruth Williams-Brinkley 54,959,617 3,726,495 4,018,872 Proposal 2: Approval of the Company's 2018 Equity Incentive Plan, as amended The Company's stockholders approved the 2018 Plan, as amended, to increase the number of shares of common stock authorized for issuance thereunder by 2,700,000. The final voting results are as follows: Votes For 36,375,367 Votes Against 22,098,658 Abstentions 212,086 Broker Non-Votes 4,018,872 Proposal 3: Approval, on an advisory basis, of the compensation of the Company's named executive officers The Company's stockholders approved, on an advisory basis, the compensation of the Company's named executive officers. The final voting results are as follows: Votes For 55,789,526 Votes Against 2,854,506 Abstentions 42,079 Broker Non-Votes 4,018,872 Proposal 4: Ratification of the Selection of Independent Registered Public Accounting Firm
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 99.1 Travere Therapeutics, Inc. 2018 Equity Incentive Plan, as amended. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). 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. TRAVERE THERAPEUTICS, INC. Dated: May 13, 2024 By: /s/ Elizabeth E. Reed Name: Elizabeth E. Reed Title: Senior Vice President, General Counsel and Secretary