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Posted 17 January, 2023

SIGA TECHNOLOGIES INC appointed new CEO

CEO Change detected for ticker Nasdaq:SIGA in a 8-K filed on 17 January, 2023.


  On January 13, 2023, Phillip Gomez provided notice to SIGA Technologies, Inc. (the "Company") of his intent to retire as Chief Executive Officer of the Company in 2023 and to resign from the Board of Directors (the "Board") when he ceases to serve as Chief Executive Officer.  

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Overview of SIGA TECHNOLOGIES INC
Health Care/Life Sciences • Pharmaceuticals
SIGA Technologies, Inc. is a commercial-stage pharmaceutical company, which engages in the development and commercialization of solutions for serious unmet medical needs and biothreats. The firm develops therapeutic solutions for lethal pathogens including smallpox, Ebola, dengue, Lassa fever, and other dangerous viruses. It offers an orally administered antiviral drug that targets orthopoxviruses under the TPOXX brand. The company was founded by Steven Oliveira on December 28, 1995 and is headquartered in New York, NY.
Market Cap
$346M
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SIGA TECHNOLOGIES INC by TradingView
Relevant filing section
Item 5.02 
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers


On January 13, 2023, Phillip Gomez provided notice to SIGA Technologies, Inc. (the "Company") of his intent to retire as Chief Executive Officer of the Company in 2023 and to resign from the Board of Directors (the "Board") when he ceases to serve as Chief Executive Officer. The Board has initiated a search for Dr. Gomez's successor, and Dr. Gomez is expected to remain in his current role as Chief Executive Officer of the Company until his successor commences services as Chief Executive Officer of the Company. Dr. Gomez's departure is not a result of any disagreement with the Company relating to the Company's operations, policies or practices.


A copy of the press release related to this announcement is attached as Exhibit 99.1 hereto and incorporated herein by reference.


On January 13, 2023, the Company entered into a transition agreement (the "Transition Agreement") with Dr. Gomez. The Transition Agreement provides that Dr. Gomez will continue to serve as Chief Executive Officer of the Company until a new Chief Executive Officer commences services with the Company in such role. Upon such appointment of a new Chief Executive Officer, Dr. Gomez will continue to be employed with the Company as a senior advisor to the new Chief Executive Officer for up to 30 days (the end of such period, the "Transition Date"). Prior to the Transition Date, Dr. Gomez will continue to receive compensation and benefits as provided under the terms of his employment agreement with the Company, dated October 13, 2016 (the "Employment Agreement"), including his annual bonus for 2022 to be paid in March 2023, and a pro-rated annual bonus for 2023 based on actual performance to be paid in March 2024. Following the Transition Date, Dr. Gomez will be available to provide consulting services to the Company for 12 months following the Transition Date, and he will receive monthly retainer fees equal to 50% of his monthly base rate as in effect immediately prior to the Transition Date. The Transition Agreement also provides that Dr. Gomez will continue to be subject to the non-competition and non-solicitation covenants set forth in his Employment Agreement until the later of the (i) first anniversary of the date that Dr. Gomez ceases employment with the Company or (ii) termination of the consulting period.


The foregoing description is qualified in its entirety by reference to the Transition Agreement, a copy of which is attached as Exhibit 10.1 hereto and incorporated herein by reference.