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): January 16, 2019
PROPHASE LABS, INC.
(Exact name of registrant as specified in its charter)
Delaware | 0-21617 | 23-2577138 | ||
(State or other jurisdiction of incorporation) |
(Commission file number) |
(I.R.S. Employer Identification No.) |
621 N. Shady Retreat Road, Doylestown, PA, 18901
(Address of principal executive offices)
(Registrant’s telephone number, including area code): (215) 345-0919
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-2) |
[ ] | 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)) |
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 [ ]
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.
On January 16, 2019, the board of directors of ProPhase Labs, Inc. (the “Company”) appointed Monica Brady as Chief Financial Officer, effective immediately.
Ms. Brady, age 41, has served as the Company’s Chief Accounting Officer since September 2017 and previously served as the Company’s Director of Finance since 2009.
In connection with Ms. Brady’s appointment as Chief Accounting Officer, Ms. Brady’s annual base salary was increased to $142,000.
On January 17, 2019, the Company issued a press release announcing Ms. Brady’s appointment as Chief Financial Officer. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
No. | Description | |
99.1 | Press Release dated January 17, 2019 |
Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
ProPhase Labs, Inc. | ||
By: | /s/ Ted Karkus | |
Ted Karkus | ||
Chairman of the Board, Chief Executive Officer and Director |
Date: January 17, 2019
Exhibit 99.1
PROPHASE LABS, INC. APPOINTS MONICA BRADY AS CHIEF FINANCIAL OFFICER
DOYLESTOWN, PA — (Globe Newswire – January 17, 2019) — ProPhase Labs, Inc. (NASDAQ: PRPH, www.ProPhaseLabs.com), a vertically integrated manufacturer, marketer and distributor of a diversified range of over-the-counter dietary supplements (“ProPhase” or “Company”), announced today that Monica Brady has been promoted to the position of Chief Financial Officer. Ms. Brady has served as the Company’s Chief Accounting Officer since September 2017 and previously served as the Company’s Director of Finance since 2009.
“We are pleased to announce Monica’s well-deserved promotion to Chief Financial Officer,” said Ted Karkus, Chairman and Chief Executive Officer of ProPhase. “Monica has been an invaluable member of our finance team, and has demonstrated a strong aptitude for operational leadership during her time as Chief Accounting Officer. Her in-depth knowledge of our business, combined with her expertise in financial reporting and analysis, risk management and operational controls, make her uniquely qualified to serve as our Chief Financial Officer.”
“I am honored to accept the position of Chief Financial Officer,” said Ms. Brady. “I look forward to working even more closely with management and our board of directors to improve the long-term financial performance of the Company and implement business strategies that add value for all our stakeholders.”
About ProPhase Labs
ProPhase is a vertically integrated manufacturer, marketer and distributor of a diversified range of over-the-counter (“OTC”) dietary supplements. We are engaged in the research and development of additional OTC dietary supplements, including Legendz XL®, which are marketed under our TK Supplements brand. The Company is also developing ProPhase Digital Media as a service that leverages and applies technology to the direct-to-consumer marketing of consumer products. With our enhanced liquidity following the sale of our Cold-EEZE brand, we are also actively exploring additional opportunities outside of the consumer products industry. For more information visit us at www.ProPhaseLabs.com.
Forward-Looking Statements
All statements contained in this press release, other than statements of historical fact, are forward-looking statements. These statements speak only as of the date of this press release and are based on our current plans and expectations and involve risks and uncertainties that could cause actual future events or results to be different from those described in or implied by such forward-looking statements, including risks and uncertainties relating to the timing and payment of the special cash dividend. Further information about these matters can be found in our Securities and Exchange Commission filings. Except as required by applicable law or regulation, we do not undertake any obligation to update our forward-looking statements to reflect future events or circumstances.
Investor Contact
Ted Karkus, Chairman and CEO
ProPhase Labs, Inc.
(267) 880-1111