UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM
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CURRENT REPORT
Pursuant to Section 13 or 15(D)
of the Securities Exchange Act of 1934
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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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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 5.02Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On June 28, 2023, the compensation committee (the “Committee”) of the board of directors (the “Board”) of Agile Therapeutics, Inc. (the “Company”), following prior recommendation and approval by the Board in January 2023, approved merit-based increases and annual grants in the ordinary course to each of Alfred Altomari, the Company’s Chief Executive Officer, Robert Conway, the Company’s Chief Corporate Planning and Supply Chain Officer, Geoffrey Gilmore, the Company’s Chief Administrative Officer, Paul Korner, the Company’s Chief Medical Officer, and Amy Welsh the Company’s Chief Commercial Officer.
Each of Mr. Altomari and Mr. Gilmore offered to the Committee, and the Committee accepted, to accept their merit-based compensation increase in the form of restricted stock units (“RSUs”) in lieu of cash. Such RSUs were issued under the Company’s 2023 Equity Incentive Plan, with a grant date of June 28, 2023 to each of Mr. Altomari and Mr. Gilmore, for a number of shares equal to 8,963 and 6,716, respectively, representing the value of such merit-based compensation increases divided by $2.48, the closing price of the Company’s common stock on June 28, 2023, rounded to the nearest whole share. Such grants shall vest in full on June 28, 2024.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Agile Therapeutics, Inc. | |
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Dated: June 30, 2023 | By: | /s/ Alfred Altomari |
| Name: | Alfred Altomari |
| Title: | Chairperson and Chief Executive Officer |
Document and Entity Information |
Jun. 28, 2023 |
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Document and Entity Information [Abstract] | |
Document Type | 8-K |
Document Period End Date | Jun. 28, 2023 |
Entity File Number | 001-36464 |
Entity Registrant Name | Agile Therapeutics, Inc. |
Entity Incorporation, State or Country Code | DE |
Entity Tax Identification Number | 23-2936302 |
Entity Address State Or Province | NJ |
Entity Address, Address Line One | 500 College Road East |
Entity Address, Adress Line Two | Suite 310 |
Entity Address, City or Town | Princeton |
Entity Address, Postal Zip Code | 08540 |
City Area Code | 609 |
Local Phone Number | 683-1880 |
Written Communications | false |
Soliciting Material | false |
Pre-commencement Tender Offer | false |
Pre-commencement Issuer Tender Offer | false |
Title of 12(b) Security | Common stock, par value $0.0001 per share |
Trading Symbol | AGRX |
Security Exchange Name | NASDAQ |
Entity Emerging Growth Company | false |
Entity Central Index Key | 0001261249 |
Amendment Flag | false |
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