| Item 2.02 | Results of Operations and Financial Condition. |
On August 5, 2021, Athenex, Inc. (the “Company”) issued a press release to report financial results for the quarter ended June 30, 2021. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
The information furnished pursuant to this Item 2.02, including Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities under such section and shall not be deemed to be incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended, or 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 July 30, 2021, Randoll Sze, the Company’s Chief Financial Officer and the principal financial and accounting officer, notified the Company of his decision to step down effective August 13, 2021.
On August 3, 2021, the Company appointed Steven Adams as Interim Chief Accounting Officer of the Company and to act as the Company’s principal financial officer and principal accounting officer for Securities and Exchange Commission reporting purposes. Mr. Adams, age 53, has been serving as the Company’s Corporate Controller since December 2013. Prior to his employment with the Company, Mr. Adams worked with cfoSOLUTIONSplus providing accounting management consulting services, a position he held since May 2007. One of the clients that he provided consulting services to, while he was with cfoSOLUTIONSplus, was Athenex. Prior to his time with cfoSOLUTIONSplus, Mr. Adams held a variety of accounting positions in both corporate and public accounting, this included positions at KPMG and Sodexo. Mr. Adams is certified public accountant licensed in New York.
In connection with his appointment, the Board approved (i) a one-time $35,000 cash bonus payable over 6 months, and (ii) two milestone based cash bonuses for service as interim Chief Accounting Officer, the first being $15,000 paid May 2021 and the second being $20,000 payable January 2022. Additionally, on August 3, 2021, the Board granted Mr. Adams an award pursuant to the Company’s Amended and Restated 2017 Omnibus Incentive Plan of 12,500 stock options at an exercise price of $3.80 per share, which vest in four equal annual installments beginning on the anniversary of the date of grant, and 12,500 restricted stock units.
There is no arrangement or understanding with any person pursuant to which Mr. Adams was selected as Interim Chief Accounting Officer, and there are no family relationships between Mr. Adams and any director or executive officer of the Company.
| Item 9.01 | Financial Statements and Exhibits. |
