Assertio Holdings Announces Board and Executive Changes

Ticker: ASRT · Form: 8-K · Filed: 2024-12-17T00:00:00.000Z

Sentiment: neutral

Topics: management-change, compensation

TL;DR

Assertio Holdings shuffled its board and exec pay on Dec 12th.

AI Summary

Assertio Holdings, Inc. announced on December 12, 2024, changes in its board of directors and executive compensation arrangements. The filing details the departure of certain officers and directors, the election of new directors, and updates to compensatory plans.

Why It Matters

Changes in board composition and executive compensation can signal shifts in company strategy, governance, and future performance.

Risk Assessment

Risk Level: medium — Changes in leadership and compensation can introduce uncertainty regarding future strategy and execution.

Key Players & Entities

FAQ

What specific roles have been affected by the departure of officers or directors?

The filing indicates departures of certain officers and directors, but does not specify the exact roles in this section.

Who are the newly elected directors?

The filing mentions the election of directors but does not list their names in this summary section.

What is the nature of the changes in compensatory arrangements?

The filing notes updates to compensatory arrangements for certain officers, but the specific details are not provided here.

What is the exact date of the reported event?

The earliest event reported is dated December 12, 2024.

Where is Assertio Holdings, Inc. headquartered?

Assertio Holdings, Inc. is headquartered at 100 S. Saunders Road, Suite 300, Lake Forest, IL 60045.

Filing Stats: 995 words · 4 min read · ~3 pages · Grade level 10.6 · Accepted 2024-12-17 17:00:28

Key Financial Figures

Filing Documents

02 Departure of Directors or Certain Officers; Election of

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers Paul Schwichtenberg Appointed as Chief Transformation Officer Effective December 16, 2024, the Board of Directors (the "Board") of Assertio Holdings, Inc. (the "Company") appointed Paul Schwichtenberg, currently the Company's Chief Commercial Officer, to serve as the Company's Chief Transformation Officer. Appointment of Mark Reisenauer to the Board of Directors On December 14, 2024, the Board of the Company appointed Mark Reisenauer to the Board, effective January 2, 2025. In connection with his appointment to the Board, Mr. Reisenauer was appointed as a member of the Compensation Committee of the Board. Mr. Reisenauer, 60, served as President of U.S. Commercial at Astellas Pharmaceuticals Inc., a global life sciences company, from April 2021 to April 2024 and, before that, as Senior Vice President, Oncology Business Unit from April 2011 to April 2021. Prior to joining Astellas, Mr. Reisenauer served as Senior Vice President, Chief Commercial Officer at Micromet Inc., a biotechnology company that was later acquired by Amgen Inc., from September 2007 to April 2011. Prior to Micromet, Mr. Reisenauer served as Divisional Vice President and General Manager, Neuroscience and, before that, General Manager, Oncology, at Abbott Laboratories, a multinational medical devices and health care company, from May 2002 to September 2007. Earlier in his career, Mr. Reisenauer held roles at Pharmacia Corporation, Bristol-Myers Squibb and Zeneca Pharmaceuticals. Mr. Reisenauer has served as a member of the Commercial Launch and Medical Affairs Advisory Board of Autolus Therapeutics since 2024 and previously served as a member of the board of directors of the PhRMA Trade Association from 2021 to 2024. The Board considered Mr. Reisenauer's experience and expertise within the following areas relevant to the Company and its bu

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure Mary Pietryga Appointed as Chief Commercial Officer Effective December 16, 2024, the Board appointed Mary Pietryga to succeed Mr. Schwichtenberg as the Company's Chief Commercial Officer. On December 12, 2024, the Company issued a press release announcing the appointments of Mr. Schwichtenberg and Ms. Pietryga. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and incorporated by reference herein. On December 17, 2024, the Company issued a press release announcing the appointment of Mr. Reisenauer. A copy of the press release is furnished as Exhibit 99.2 to this Current Report on Form 8-K and incorporated by reference herein. The information in this Item 7.01, including Exhibits 99.1 and 99.2 attached hereto, is furnished pursuant to Item 7.01 of this Current Report on Form 8-K and shall not be deemed to be "filed" for purposes of Section 18 of Exchange Act, or otherwise subject to the liabilities of that section, nor shall it be deemed to be incorporated by reference in any filing under the Securities Act of 1933, as amended.

01

Item 9.01

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits 99.1 Assertio Holdings, Inc. Press Release issued on December 12, 2024 99.2 Assertio Holdings, Inc. Press Release issued on December 17, 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: December 17, 2024 By: /s/ Brendan P. O'Grady Brendan P. O'Grady Chief Executive Officer (Principal Executive Officer)

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