Ironwood Pharmaceuticals Inc 8-K/A, filed Mar 15, 2021
Ironwood Pharmaceuticals Inc (IRWD)
About this 8-K/A
Ironwood Pharmaceuticals Inc filed this 8-K/A on March 15, 2021, reporting on events of February 4, 2021.
Items reported
- Item 5.02: Director or officer change, or executive pay
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Explanatory Note
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
In connection with Mr. McCourt becoming the Company’s interim Chief Executive Officer, the Board approved an annual base salary of $775,000 (the “Interim CEO Salary”) and target bonus of 75% of the Interim CEO Salary for Mr. McCourt. Mr. McCourt’s increased salary and target bonus will remain in place for a minimum of six months and for so long as Mr. McCourt is serving as interim Chief Executive Officer of the Company.
In addition, as previously disclosed, Julie McHugh, who is Chairperson of the Board, is spending additional time providing counsel and guidance to the Company’s senior leadership team during the chief executive officer transition period. Notwithstanding this additional support, the Board determined not to change Ms. McHugh’s title to “Executive Chairperson” because the title “Chairperson” accurately describes Ms. McHugh’s role.
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.
| Ironwood Pharmaceuticals, Inc. | ||
| Dated: March 15, 2021 | By: | /s/ Gina Consylman |
| Name: Gina Consylman | ||
| Title: Senior Vice President, Chief Financial Officer | ||