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): September 14, 2021
TIMBER PHARMACEUTICALS, INC.
(Exact name of registrant as specified in its charter)
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Delaware |
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001-37411 |
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59-3843182 |
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(State or other jurisdiction of incorporation) |
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(Commission File Number) |
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(IRS Employer Identification No.) |
110 Allen Road, Suite 401
Basking Ridge, NJ 07920
(Address of principal executive offices)
Registrant’s telephone number, including area code: (908) 636-7160
N/A
(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:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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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:
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Title of each class |
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Trading Symbol(s) |
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Name of each exchange on which registered |
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Common Stock, $0.001 Par Value |
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TMBR |
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The NYSE American, LLC |
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 September 14, 2021, the Compensation Committee (the “Committee”) of the Board of Directors of Timber Pharmaceuticals, Inc. (the “Company”) approved grants of stock options to purchase shares of Company common stock to certain of its executive officers under the Company’s 2020 Omnibus Incentive Plan, as amended, all with an exercise price of $0.8925 per share. Specifically, the Committee approved a grant of (i) 890,000 stock options to John Koconis, the Company’s Chief Executive Officer, President and Chairman of the Board (the “Koconis Options”), and (ii) 561,000 stock options to Zachary Rome, the Company’s Chief Operating Officer, Executive Vice President and Secretary (the “Rome Options” and together with the Koconis Options, the “Options”).
The Options vest in equal monthly installments over the next three years commencing on October 14, 2021. The Options have a 10 year term and are subject to cancellation upon the grantees’ termination of service for the Company, with certain exceptions.
SIGNATURE
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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Timber Pharmaceuticals, Inc. |
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Date: September 16, 2021 |
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/s/ John Koconis |
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Name: |
John Koconis |
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Title: |
Chief Executive Officer |
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