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): August 31, 2018
RXi PHARMACEUTICALS
CORPORATION
(Exact name of registrant as specified in its charter)
| | | | | |
| Delaware | | 001-36304 | | 45-3215903 |
(State or other jurisdiction of incorporation or organization) | | (Commission File Number) | | (I.R.S. Employer
Identification No.) |
257 Simarano Drive, Suite 101
Marlborough, Massachusetts 01752
(Address of Principal Executive Offices) (Zip Code)
Registrant’s telephone number, including area code: (508) 767-3861
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)) |
Indicate by check mark whether the registrant is an emerging growth company as defined in 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 August 31, 2018, the Board of Directors (the “Board”) of RXi Pharmaceuticals Corporation (the “Company”) granted Geert Cauwenbergh, Dr. Med. Sc., the Company’s Chief Executive Officer, the right to elect to receive, in lieu of cash, for the period from September 15, 2018 to December 31, 2018 (the “Period”), up to 50% of his base salary and cash bonuses, if any, payable during the Period (collectively, the “Compensation”), in the form of unvested, restricted shares of the Company’s common stock. Such restricted shares shall be received in the form of a series of grants made on each Company payroll date in lieu of cash payment of the Compensation, shall be issued outside of the Company’s 2012 Long Term Incentive Plan and Employee Stock Purchase Plan, and shall vest in full on January 1, 2019, subject to his continued employment through such date. The terms and conditions of this arrangement are set forth in the Non-Plan Stock Compensation Election and Terms and Conditions (the “Terms and Conditions”).
The preceding description is qualified in its entirety by reference to the full text of the Terms and Conditions, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
* * *
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.
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| | | | | RXi PHARMACEUTICALS CORPORATION |
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| Date: September 4, 2018 | | | | By: | | /s/ Geert Cauwenbergh |
| | | | | | | | | Geert Cauwenbergh, Dr. Med. Sc. Chief Executive Officer |
