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 7, 2017
NABRIVA THERAPEUTICS AG
(Exact Name of Registrant as Specified in its Charter)
Republic of Austria | | 001-37558 | | Not applicable |
(State or Other Jurisdiction
of Incorporation | | (Commission
File Number) | | (IRS Employer
Identification No.) |
Leberstrasse 20
1110 Vienna, Austria | | Not applicable |
(Address of Principal Executive Offices) | | (Zip Code) |
Registrant’s telephone number, including area code: +43 (0)1 740 930
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):
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On February 7, 2017, the Supervisory Board (the “Board”) of Nabriva Therapeutics AG (the “Company”), following approval and recommendation from the Compensation Committee of the Board and consistent with the recommendations of the independent compensation consultant to the Compensation Committee, approved the annual base salaries for 2017, performance-based bonus payments for 2016 and annual equity awards of options to purchase common shares of the Company under the Company’s 2015 Stock Option Plan to the Company’s executive officers, as set forth below.
Name | | 2017 Annual Base Salary(1) | | 2016 Bonus | | Stock Options(2) | |
Colin Broom
Chief Executive Officer | | $457,800 | | $174,400 | | 26,100 | |
Gary Sender
Chief Financial Officer | | $360,500 | | $104,125 | | 11,300 | |
Elyse Seltzer
Chief Medical Officer | | $394,552 | | $108,594 | | 11,300 | |
Steven Gelone
Chief Development Officer | | $353,280 | | $93,731 | | 11,300 | |
(1) Effective as of January 1, 2017.
(2) Each of these stock option awards has a grant date of February 7, 2017 and will vest over a four-year period beginning on February 28, 2017. Twenty-five percent (25%) of each option award will vest on February 28, 2018, and the remaining seventy-five percent (75%) of each option award will vest on a monthly pro-rata basis over the remaining vesting period. The exercise price for these stock option awards is €79.63, which was the euro equivalent of the closing sale price of the common shares underlying the American Depositary Shares of the Company on the NASDAQ Global Market on the grant date.
In addition, on February 7, 2017, the Board approved the award of a performance-based bonus payment for 2016 of $96,152 to the Company’s former General Counsel and Corporate Secretary, J. Peter Wolf.
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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.
| NABRIVA THERAPEUTICS AG |
| |
Date: February 13, 2017 | By: | /s/ Colin Broom |
| | Colin Broom
Chief Executive Officer |
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