Adamis Pharmaceuticals Corp appointed new CEO

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


On July 18, 2023, David C. Benedicto, the chief financial officer and principal accounting officer of Adamis Pharmaceuticals Corporation (the "Company"), notified the Company that he was tendering his resignation from the Company effective July 21, 2023. Mr. Benedicto's resignation was not a result of any disagreement with the Company or its independent auditors on any matter relating to the Company's financial statements or accounting policies or practices. The Company will commence a search for a new chief financial officer. In the interim, David J. Marguglio, the Company's President and Chief Operating Officer, will assume the duties of chief financial officer of the Company on an interim basis until the Company appoints a successor, and the board of directors of the Company has approved that appointment. Mr. Marguglio joined the Company as Vice President, Business Development and Investor Relations, and a director in April 2009, and was appointed as President and Chief Executive Officer of the Company in May 2022 and was Chief Executive Officer until the Company's merger in May 2023 with DMK Pharmaceuticals Corporation. He has held positions with the Company of Senior Vice President of Corporate Development and, since March 2017, Senior Vice President and Chief Business Officer. Prior to Adamis, Mr. Marguglio held various positions with Citigroup Global Markets, Salomon Smith Barney and Merrill Lynch. Before entering the financial industry, he worked as a financial analyst and founded and ran two different startup companies, the latter of which was eventually acquired by a Fortune 100 company. He received a degree in finance and business management from the Hankamer School of Business at Baylor University. The selection of Mr. Marguglio to serve as chief financial officer was not made pursuant to any arrangement or understanding with any other person. The Company has previously entered into its form of indemnity agreement with Mr. Marguglio. There are no family relationships between Mr. Marguglio and any director or executive officer of the Company, and, except as set forth above, Mr. Marguglio does not have any other direct or indirect material interest in any transaction or proposed transaction required to be reported under Item 404(a) of Regulation S-K.