Assertio Holdings Appoints New CMO, Adds Directors

TL;DR

Assertio beefs up leadership with new CMO and board members, expect strategic moves.

AI Summary

Assertio Holdings, Inc. announced on March 27, 2024, the appointment of Dr. Robert L. Diamond as Chief Medical Officer and the election of Dr. Diamond and Ms. Jennifer L. Jones to its Board of Directors. The company also disclosed compensatory arrangements for certain officers, including Dr. Diamond, who will receive a base salary of $450,000 and equity awards.

Why It Matters

The appointment of a new Chief Medical Officer and board members signals a potential shift in the company's strategic direction and leadership focus within its pharmaceutical operations.

Risk Assessment

Risk Level: medium — Changes in key executive and board positions can introduce uncertainty regarding future strategy and operational execution.

Key Numbers

• 20240327 — Event Date (Date of the earliest event reported in the filing)
• $450,000 — CMO Base Salary (Dr. Diamond's annual base salary)

Key Players & Entities

• Assertio Holdings, Inc. (company) — Registrant
• Dr. Robert L. Diamond (person) — Appointed Chief Medical Officer and elected to Board of Directors
• Ms. Jennifer L. Jones (person) — Elected to Board of Directors
• $450,000 (dollar_amount) — Dr. Diamond's base salary

FAQ

Key Financial Figures

• $0.0001 — ge on which registered: Common Stock, $0.0001 par value ASRT The Nasdaq Stock Mar

Filing Documents

• tm2410427d1_8k.htm (8-K) — 26KB
• tm2410427d1_ex17-1.htm (EX-17.1) — 2KB
• tm2410427d1_ex17-1img001.jpg (GRAPHIC) — 83KB
• 0001104659-24-042608.txt ( ) — 313KB
• asrt-20240327.xsd (EX-101.SCH) — 3KB
• asrt-20240327_lab.xml (EX-101.LAB) — 33KB
• asrt-20240327_pre.xml (EX-101.PRE) — 22KB
• tm2410427d1_8k_htm.xml (XML) — 4KB

02 Departure of Directors

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers On March 27, 2024, James L. Tyree, Chairman of the Compensation Committee of the Board of Directors (the "Board") of Assertio Holdings, Inc. (the "Company"), informed the Board at an informal meeting that he declined to stand for reelection at the 2024 Annual Meeting of Stockholders. The Company believes that Mr. Tyree's decision was due to (1) his disagreement relating to a potential waiver of the application of the mandatory Board retirement policy for 2024 with respect to Peter D. Staple, our current Board Chair, and (2) his disagreement with Board members declining to take action on Mr. Tyree's suggestion to increase the retirement age from 72 to 75. The Company provided Mr. Tyree with a copy of the disclosures made in this Item 5.02 no later than the date of filing this Form 8-K with the U.S. Securities and Exchange Commission and has provided Mr. Tyree with the opportunity to furnish the Company as promptly as possible with a letter addressed to the Company stating whether he agrees with the statements made by the Company and, if not, stating the respects in which he does not agree.

01

Item 9.01

Financial Statements and Exhibits

Financial Statements and Exhibits (d) Exhibits Exhibit Number Description 17.1 Written Correspondence of Mr. Tyree, dated March 28, 2024 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, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. ASSERTIO HOLDINGS, INC. Date: April 2, 2024 By: /s/ Sam Schlessinger Sam Schlessinger Senior Vice President, General Counsel