Cannabist Co Holdings Inc 8-K, filed Sep 12, 2023
Cannabist Co Holdings Inc. (CBSTQ)
About this 8-K
Cannabist Co Holdings Inc filed this 8-K on September 12, 2023, reporting on events of September 7, 2023.
Items reported
- Item 5.02: Director or officer change, or executive pay
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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| Item 5.02. | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On September 7, 2023, Rosemary Mazanet, M.D., PhD. was appointed to the board of directors (the “Board”) of Columbia Care Inc., a British Columbia corporation (“Columbia Care”). Dr. Mazanet was recommended for appointment by Columbia Care’s Nominating and Governance Committee for her ability to contribute and add value to the Board based on her extensive medical, scientific, Columbia Care, industry, and public company experience.
Dr. Mazanet began advising Columbia Care in 2013, joined its Scientific Advisory Board as its Chair in 2015 and was appointed Columbia Care’s Chief Scientific Officer in 2017. Dr. Mazanet began her career in Internal Medicine and Oncology at the Brigham and Women’s Hospital and the Dana Farber Cancer Institute before starting at Amgen in the early 1990s as the head of Clinical Research. At Amgen, Dr. Mazanet held broad responsibilities as one of the first U.S. trained clinician scientists in her field, where she led multiple successful product development initiatives, including FDA panel presentations for ground-breaking stem-cell therapies such as Neupogen. Following her time at Amgen, she moved into public equity in 1998 when she joined Oracle Partners LLC in New York as a General Partner. Since that time, she has been a presence in public and private equity biotech and specialty pharma investments. In addition to the Columbia Care Board of Directors, Dr. Mazanet is also an Emeritus Trustee at the University of Pennsylvania School of Medicine and the Co-Chair of the Leonard Davis Institute Executive Advisory Board at The Wharton School of the University of Pennsylvania. Dr. Mazanet graduated magna cum laude from the University of Virginia and completed her graduate work at the University of Pennsylvania Medical School and Harvard Medical School.
In connection with Dr. Mazanet’s transition from Chief Scientific Officer, Columbia Care and Dr. Mazanet entered into a transition and release of claims agreement, dated August 31, 2023 (the “Transition Agreement”), pursuant to which Dr. Mazanet agreed to release any claims arising from or relating to her employment with Columbia Care and will receive severance pay of $26,250 per month for a period of 18 months, for a total of $472,500. The severance payments under the Transition Agreement may be converted to restricted stock units upon mutual agreement of Columbia Care and Dr. Mazanet. In addition, Dr. Mazanet’s unvested restricted stock units and performance share units will continue to vest, subject to applicable performance conditions and Dr. Mazanet’s continued service as a director on the Board through any applicable vesting dates.
Item 5.02 of this Current Report on Form 8-K contains only a brief description of the material terms of and does not purport to be a complete description of the rights and obligations of the parties to the Transition Agreement, and such description is qualified in its entirety by reference to the full text of the agreement, which will be filed with Columbia Care’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2023.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| COLUMBIA CARE INC. | ||
| By: | /s/ David Sirolly | |
| Name: | David Sirolly | |
| Title: | Chief Legal Officer & General Counsel | |
Date: September 12, 2023