UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On December 21, 2023, Petros Pharmaceuticals, Inc. (the “Company”) approved a one-time grant under the Company’s Amended and Restated 2020 Omnibus Incentive Compensation Plan (the “Plan”) to Fady Boctor, the Company’s President and Chief Commercial Officer, of: (i) 49,645 shares of the Company’s common stock; and (ii) options to purchase up to 109,066 shares of the Company’s common stock, with an exercise price of $1.41 per share. On the date of grant, 50% of the options vested, and the remaining options will vest upon the achievement of certain strategic goals during 2023 and 2024, provided that Mr. Boctor remains employed by the Company on the applicable vesting date. Additionally, on December 21, 2023, the Company approved a one-time grant under the Plan to Mitchell Arnold, the Company’s Vice President of Finance & Chief Accounting Officer of options to purchase up to 20,000 shares of the Company’s common stock, with an exercise price of $1.41 per share. The options vested 100% upon grant.
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 hereunto duly authorized.
| PETROS PHARMACEUTICALS, INC. | ||
| Date: December 28, 2023 | By: | /s/ Fady Boctor |
| Name: Fady Boctor | ||
| Title: President and Chief Commercial Officer | ||