0001558370-24-001840.txt : 20240227 0001558370-24-001840.hdr.sgml : 20240227 20240227161519 ACCESSION NUMBER: 0001558370-24-001840 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 14 CONFORMED PERIOD OF REPORT: 20240226 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers FILED AS OF DATE: 20240227 DATE AS OF CHANGE: 20240227 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Virios Therapeutics, Inc. CENTRAL INDEX KEY: 0001818844 STANDARD INDUSTRIAL CLASSIFICATION: PHARMACEUTICAL PREPARATIONS [2834] ORGANIZATION NAME: 03 Life Sciences IRS NUMBER: 854314201 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-39811 FILM NUMBER: 24686925 BUSINESS ADDRESS: STREET 1: 44 MILTON AVENUE CITY: ALPHARETTA STATE: GA ZIP: 30009 BUSINESS PHONE: 8666208655 MAIL ADDRESS: STREET 1: 44 MILTON AVENUE CITY: ALPHARETTA STATE: GA ZIP: 30009 FORMER COMPANY: FORMER CONFORMED NAME: Virios Therapeutics, LLC DATE OF NAME CHANGE: 20200721 8-K 1 tmb-20240226x8k.htm 8-K
0001818844false00018188442024-02-262024-02-26

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):  February 26, 2024

VIRIOS THERAPEUTICS, INC.

(Exact Name of Registrant as Specified in Charter)

Delaware

001-39811

85-4314201

(State or other jurisdiction
of incorporation)

(Commission
File Number)

(IRS Employer
Identification No.)

44 Milton Avenue
Alpharetta, GA 30009

(Address of Principal Executive Offices, and Zip Code)

 

(866) 620-8655

Registrant’s Telephone Number, Including Area Code

 

Not Applicable

 

(Former Name or Former Address, if Changed Since Last Report)

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:

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, par value $0.0001

VIRI

Nasdaq Capital Market

 

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

 

Emerging growth company

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.

 

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

Employee Salary and Director Compensation Reduction

On February 26, 2024, the Board of Directors (the “Board”) of Virios Therapeutics, Inc. (the “Company”) approved a 10% salary reduction for each employee of the Company, including each of the Company’s executive officers, effective March 1, 2024. In addition, on February 26, 2024, the Board approved a 10% reduction in the cash compensation of the non-employee members of the Board.

Stock Option Grant

In connection with the salary and compensation reductions described above, the Board approved the grant of options to purchase shares of the Company’s common stock (the “Stock Options”) pursuant to the Company’s Amended and Restated 2020 Equity Incentive Plan, as amended, to the executive officers and non-employee directors as follows:

Name

Title

Number of Options

Greg Duncan

Chairman and Chief Executive Officer

138,835

R. Michael Gendreau

Chief Medical Officer

88,085

Ralph Grosswald

Senior Vice President of Operations

62,568

Angela Walsh

Senior Vice President of Finance, Corporate Secretary and Treasurer

63,618

Abel De La Rosa

Director

3,959

Richard Burch

Director

2,917

David Keefer

Director

4,709

Richard J. Whitley

Director

4,000

John C. Thomas

Director

4,167

William L. Pridgen

Director

2,917

The grant of the Stock Options was effective on February 26, 2024, and the Stock Options will vest in full on February 26, 2025. The Stock Options have an exercise price of $0.357 per share.

2

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.

 

VIRIOS THERAPEUTICS, INC.

 

 

 

 

By:

/s/ Angela Walsh

 

Name:

Angela Walsh

Title:

Senior Vice President of Finance, Corporate Secretary and Treasurer

February 27, 2024

3

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Feb. 26, 2024
Document and Entity Information [Abstract]  
Document Type 8-K
Document Period End Date Feb. 26, 2024
Entity File Number 001-39811
Entity Registrant Name VIRIOS THERAPEUTICS, INC.
Entity Incorporation, State or Country Code DE
Entity Tax Identification Number 85-4314201
Entity Address, Address Line One 44 Milton Avenue
Entity Address, City or Town Alpharetta
Entity Address, State or Province GA
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Trading Symbol VIRI
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Entity Emerging Growth Company true
Entity Ex Transition Period false
Entity Central Index Key 0001818844
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