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Posted 08 May, 2023

ZEVRA THERAPEUTICS, INC. appointed new CEO

CEO Change detected for ticker Nasdaq:ZVRA in a 8-K filed on 08 May, 2023.


  On May 5, 2023, Richard W. Pascoe, the Chief Executive Officer of Zevra Therapeutics, Inc. (the "Company" or "Zevra"), resigned as the Company's Chief Executive Officer, effective as of June 1, 2023.  

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Overview of ZEVRA THERAPEUTICS, INC.
Health Care/Life Sciences • Pharmaceuticals
Zevra Therapeutics, Inc. is a clinical-stage specialty pharmaceutical company, which engages in the discovery and development of proprietary prodrugs. It focuses on the treatment of serious medical conditions such as attention deficit hyperactivity disorder, pain, and other central nervous system disorders through its platform technology known as Ligand Activated Therapy. The company was founded by Christal M. M. Mickle and Travis C. Mickle on October 30, 2006 and is headquartered in Celebration, FL.
Market Cap
$258M
View Company Details
ZEVRA THERAPEUTICS, 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 May 5, 2023, Richard W. Pascoe, the Chief Executive Officer of Zevra Therapeutics, Inc. (the "Company" or "Zevra"), resigned as the Company's Chief Executive Officer, effective as of June 1, 2023.

 

Additionally, on May 3, 2023, Matthew R. Plooster and Joseph B. Saluri, each a Class III director of the Company, notified the Company's Board of Directors (the "Board") that they do not intend to stand for re-election at the Company's 2024 annual meeting of stockholders. The Board intends to immediately initiate a search for director candidates to fill each of Mr. Plooster's and Mr. Saluri's seats, and Mr. Plooster and Mr. Saluri have informed the Board that they intend to resign as soon as the Board finds candidates to fill the vacancies their resignations will create.

 

Transition Agreement

 

In connection with Mr. Pascoe's resignation, the Company entered into a transition agreement with Mr. Pascoe (the "Transition Agreement"). Mr. Pascoe will serve as the Company's Chief Executive Officer through the earlier of (i) June 1, 2023 or (ii) the earlier date determined by the Company (the "Transition Period") and will continue to earn his current base salary and participate in the Company's benefit plans during the Transition Period. Pursuant to the terms of the Transition Agreement, subject to his timely delivering a release of claims in the Company's favor and completing the Transition Period, Mr. Pascoe will receive severance payments and benefits consisting of (i) continued payment of his base salary for 12 months following the date on which Mr. Pascoe's employment with the Company ends (the "Separation Date"), (ii) up to 12 months of continued medical, dental and vision coverage pursuant to COBRA, (iii) an amount equal to Mr. Pascoe's target annual bonus, pro-rated through the Separation Date and (iv) accelerated vesting of his outstanding equity awards. In addition, the exercise period of vested options to purchase the Company's common stock held by Mr. Pascoe will be extended through the nine-month anniversary of the Separation Date.

 

The foregoing description of the Transition Agreement does not purport to be complete and is qualified in its entirety by reference to the full agreement, a copy of which is attached as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.