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): April 8, 2022
YUMANITY THERAPEUTICS, INC.
(Exact name of registrant as specified in its charter)
| Delaware | 001-37695 | 20-8436652 | ||
| (State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) |
40 Guest Street, Suite 4410 Boston, MA | 02135 | |
| (Address of principal executive offices) | (Zip Code) |
Registrant’s telephone number, including area code: 617-409-5300
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 (see General Instruction A.2. below):
| ☐ | 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 | Name of each exchange | ||
| Common Stock, par value $0.001 per share | YMTX | The 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 (§ 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 April 8, 2022, Paulash Mohsen, the Chief Business Officer of Yumanity Therapeutics, Inc. (the “Company”) departed from his employment at the Company. Mr. Mohsen’s departure is part of the Company’s efforts to preserve capital in support of its exploration of strategic alternatives.
In connection with his departure, the Company will pay Mr. Mohsen severance in an amount equal to 9 months of his base salary and 9 months of COBRA premiums at the Company’s normal rate of contribution for employees for his coverage at the level currently in effect. Mr. Mohsen’s severance benefits are subject to the effectiveness of a release of claims by Mr. Mohsen against the Company included in a separation agreement which also requires Mr. Mohsen to provide up to eight (8) hours per month of consulting services to the Company for three months. In exchange for provision of consulting services, Mr. Mohsen’s severance will be paid in two equal payments, the first of which will be made on the Company’s first ordinary payroll date occurring after eight days from his departure and the second will be made on the Company’s first ordinary payroll date occurring after 90 days from his departure.
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.
Date: April 8, 2022
| Yumanity Therapeutics, Inc. | ||
| By: | /s/ Richard Peters | |
| Name: | Richard Peters | |
| Title: | President and Chief Executive Officer | |