kmph20170214c_8k.htm

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 


 

FORM 8-K

 


 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of Earliest Event Reported): January 31, 2018 (January 25, 2018)

 


 

KemPharm, Inc.

(Exact Name of Registrant as Specified in Its Charter)

 


 

Delaware

001-36913

20-5894398

(State or Other Jurisdiction

of Incorporation)

(Commission File Number)

(IRS Employer

Identification No.)

     

2500 Crosspark Road, Suite E126

Coralville, IA

 

52241

(Address of Principal Executive Offices)

 

(Zip Code)

 

Registrant’s Telephone Number, Including Area Code: (319) 665-2575

 

Not Applicable

(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 Instructions A.2. below):

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

   
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
   
Emerging growth company     ☒
   
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.     ☒

 

 

 

 

Item 5.02     Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

 

(e)

 

2017 Cash Bonus Payouts

 

On January 25, 2018, the Compensation Committee (the "Compensation Committee") of the Board of Directors (the “Board”) of KemPharm, Inc., a Delaware corporation (the "Company"), approved the payment of cash bonuses to the Company’s named executive officers and principal financial officer (the “Executive Officers”) based on the achievement in 2017 of corporate and individual goals previously approved by the Board. The amounts awarded to the Executive Officers were as follows:

 

Executive Officer and Principal Position

 

Bonus Amount

Travis C. Mickle, Ph.D.

 

$

136,000

   

President and Chief Executive Officer

         

Sven Guenther, Ph.D.

 

$

65,688

   

Executive Vice President, Research and Development

         

Daniel L. Cohen

 

$

66,640

   

Executive Vice President, Government and Public Relations

         

R. LaDuane Clifton, CPA

 

$

61,880

   

Chief Financial Officer, Secretary and Treasurer

         

 

2018 Base Salaries and Cash Bonus Plan Target Payouts

 

On January 25, 2018, the Compensation Committee approved the 2018 base salaries and target bonus awards for the Executive Officers. The 2018 bonus awards for the Executive Officers will be based on the achievement of corporate and individual goals, as approved by the Board. The 2018 base salaries and target bonus awards for the Executive Officers are as follows:

 

Executive Officer and Principal Position   2018 Base Salary   Bonus Target (1)  
Travis C. Mickle, Ph.D.   $ 515,000   50%  
President and Chief Executive Officer            
Sven Guenther, Ph.D.   $ 355,000   35%  
Executive Vice President, Research and Development            
Daniel L. Cohen   $ 350,000   35%  
Executive Vice President, Government and Public Relations            
R. LaDuane Clifton, CPA   $ 335,000   35%  
Chief Financial Officer, Secretary and Treasurer            
             
(1) Bonus Targets listed as percentage of 2018 Base Salary            

 

 

 

 

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 thereunto duly authorized.

 

 

 

KemPharm, Inc.

 

 

 

 

Date: January 31, 2018

 

By:

/s/ R. LaDuane Clifton

 

 

 

R. LaDuane Clifton

 

 

 

Chief Financial Officer, Secretary and Treasurer