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): March 12, 2018
Dova Pharmaceuticals, Inc.
(Exact Name of Registrant as Specified in its Charter)
Delaware (State or Other Jurisdiction of Incorporation) |
|
001-38135 (Commission File Number) |
|
81-3858961 (IRS Employer Identification No.) |
240 Leigh Farm Road, Suite 245 |
|
27707 |
(Address of Principal Executive Offices) |
|
(Zip Code) |
Registrants telephone number, including area code: (919) 748-5975
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:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o 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 x
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. x
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(f) Determination of Bonus Awards for Year Ended December 31, 2017
On March 12, 2018, the compensation committee of the board of directors of Dova Pharmaceuticals, Inc. (the Company) approved bonus awards for the year ended December 31, 2017 for the Companys named executive officers identified in the Companys Annual Report on Form 10-K, dated as of February 16, 2018 (File No. 001-38135) (the Annual Report). All other compensation for the Companys named executive officers for the year ended December 31, 2017 was previously reported by the Company in the 2017 summary compensation table included in the Annual Report. As of the filing of the Annual Report, the amounts of the bonus awards for the year ended December 31, 2017 for the named executive officers had not been determined and, therefore, were not included in the 2017 summary compensation table included in the Annual Report. Pursuant to Item 5.02(f) of Form 8-K, the amounts of the bonus awards for the year ended December 31, 2017 and the total compensation for the year ended December 31, 2017 for the named executive officers, recalculated to include the bonus awards for the year ended December 31, 2017, are set forth below.
Name and principal position |
|
Year |
|
Bonus |
|
Non-equity incentive |
|
Total |
|
Alex Sapir |
|
2017 |
|
20,000 |
|
180,000 |
|
6,016,743 |
|
Douglas Blankenship(2) |
|
2017 |
|
|
|
|
|
1,567,119 |
|
Lee F. Allen, M.D., Ph.D. |
|
2017 |
|
20,000 |
|
160,000 |
|
1,968,538 |
|
(1) For 2017, each named executive officer had a target bonus opportunity, defined as a percentage of his annual salary. For 2017, Mr. Sapirs and Dr. Allens target bonus was 45% and 40% of their annual salaries, respectively. On March 12, 2018, the Companys compensation committee determined that the 2017 corporate performance goals had been achieved at a 100% level in the aggregate. The bonuses paid to Mr. Sapir and Dr. Allen for 2017 performance at the 100% level are included in the Non-equity incentive plan compensation column above. The compensation committee also exercised its discretion to award Mr. Sapir and Dr. Allen additional compensation in light of their roles in the achievement of corporate objectives outside of the scope of the stated corporate objectives. The additional amounts paid are reflected in the Bonus column above.
(2) On January 29, 2018, Mr. Blankenship resigned as the Companys Chief Financial Officer, with his separation effective as of February 8, 2018.