UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 5.02. | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers |
Effective March 1, 2023, Eton Pharmaceuticals, Inc. (“Eton” or the “Company”) has appointed David Krempa to the position of Chief Business Officer. Mr. Krempa previously was employed by the Company in the Position of Senior Vice President, Business Development and Investor Relations.
In connection with the appointment as Chief Business Officer, Mr. Krempa will receive an annual salary of $385,000 and is eligible for an annual discretionary bonus as determined by the board of directors. Mr. Krempa also participates in the Company’s 2018 Equity Incentive Plan along with other officers and employees of the Company. Mr. Krempa’s employment with the Company is “at will” and his employment may be terminated by the Company at any time for any reason or for no reason. In the event Mr. Krempa’s employment is terminated without “cause” or he terminates his employment for “good reason,” he will receive six months’ of his base salary as severance. Further, if such termination occurs within twelve months of a change in control of the Company, all of Mr. Krempa’s unvested stock options shall immediately vest.
Mr. Krempa has been employed full time by the Company since 2017. Prior to his appointment as Chief Business Officer, he served as Senior Vice President, Business Development and Investor Relations since April 2021, Vice President, Business Development from March 2019 to April 2021, and prior to that he served as Executive Director, Business Development since September 2017. Mr. Krempa received his B.S. in Finance from DePaul University.”
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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.
Date: March 1, 2023 | By: | /s/ James R. Gruber |
James R. Gruber | ||
Chief Financial Officer and Secretary | ||
(Principal Financial Officer) |
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