SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): March 6, 2020
RELMADA THERAPEUTICS, INC.
(Exact name of registrant as specified in its charter)
|(State or other jurisdiction
|(Commission File Number)||(IRS Employer|
880 Third Avenue, 12th Floor
New York, NY
|(Address of principal executive offices)||(Zip Code)|
Registrant’s telephone number, including area code (212) 547-9591
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
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Emerging growth company ☐
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Securities registered pursuant to Section 12(b) of the Act:
|Title of each class||Trading Symbol(s)||Name of exchange on |
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
In its Current Report on Form 8-K, filed with the Securities and Exchange Commission on March 12, 2020 (the “Initial Report”) Relmada Therapeutics, Inc. (the “Company”) reported the departure of Dr. Ottavio Vitolo, the Company’s Chief Medical Officer and Head of Research and Development, and the appointment of Dr. Thomas Wessel, the Company’s Executive Vice President, Head of Research and Development effective March 9, 2020. The Current Report on Form 8-K/A amends the Initial Report to provide information about the compensatory arrangements related to the departure of Dr. Vitolo. This Current Report on Form 8-K/A should be read in conjunction with the Initial Report.
On April 1, 2020, Dr. Vitolo, entered into a Separation and Severance Agreement (the “Agreement”) with the Company. Pursuant to the terms of the Agreement, the Company agreed to pay Dr. Vitolo severance of $200,000 in accordance with his employment contract. If Dr. Vitolo elects COBRA continuation coverage under the Company’s group health plan, he shall only be required to pay active employee rates, as in effect from time to time, for six months. At the conclusion of this period, shall be eligible to continue his coverage, pursuant to COBRA, and shall be responsible for the entire COBRA premium for the remainder of the applicable COBRA continuation period. Dr. Vitolo’s options granted under the Company’s 2014 Stock Option and Equity Incentive Plan will continue to vest until September 6, 2020. Dr. Vitolo shall have until March 6, 2021 to exercise his vested options and he shall be allowed to use a cashless exercise provision to exercise his vested options. The Agreement also contains customary confidentiality, release, and non-disparagement provisions, and the Company agreed to pay accrued and unpaid salary, vacation time and attorneys fees totaling approximately $45,000. A copy of the Agreement will be included as an exhibit to the Company’s Form 10-Q for the quarter ended March 31, 2020.
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.
|Dated: April 6, 2020||RELMADA THERAPEUTICS, INC.|
|By:||/s/ Sergio Traversa|
|Title:||Chief Executive Officer|