UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
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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
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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 July 31, 2020, Amneal Pharmaceuticals, Inc. (the “Company”) entered into Modification No. 1 to the Employment Agreement Entered February 6, 2018 (the “Modification”) with Andrew Boyer, its Executive Vice President, Commercial Operations– Generics, effective as of August 1, 2020 (the “Effective Date”). Pursuant to the Modification, the term of Mr. Boyer’s Employment Agreement is extended until June 30, 2023 (the “Term”) and will automatically be renewed thereafter for single one-year periods unless written notice of non-renewal is provided by any party at least 90 days prior to the end of the Term or the agreement is earlier terminated in accordance with its terms. Under the Modification, as of the Effective Date, Mr. Boyer began serving as the Executive Vice President, Chief Commercial Officer – Generics and receiving an annual base salary of $600,000 (reduced from $661,917), which amount is subject to increase by the Company’s Board of Directors. Further, in connection with the Modification, Mr. Boyer received an award of restricted stock units having a grant date fair value equal to $300,000 with a third of such units vesting on each of June 30, 2021, June 30, 2022 and June 30, 2023, subject to Mr. Boyer’s continued employment through the applicable vesting date.
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.
| Date: August 4, 2020 | AMNEAL PHARMACEUTICALS, INC. | |||||
| By: | /s/ Stephen J. Manzano | |||||
| Name: | Stephen J. Manzano | |||||
| Title: | Senior Vice President, General Counsel and Corporate Secretary | |||||
Document and Entity Information |
Jul. 31, 2020 |
|---|---|
| Cover [Abstract] | |
| Amendment Flag | false |
| Entity Central Index Key | 0001723128 |
| Document Type | 8-K |
| Document Period End Date | Jul. 31, 2020 |
| Entity Registrant Name | AMNEAL PHARMACEUTICALS, INC. |
| Entity Incorporation State Country Code | DE |
| Entity File Number | 001-38485 |
| Entity Tax Identification Number | 32-0546926 |
| Entity Address, Address Line One | 400 Crossing Blvd |
| Entity Address, City or Town | Bridgewater |
| Entity Address, State or Province | NJ |
| Entity Address, Postal Zip Code | 08807 |
| City Area Code | (908) |
| Local Phone Number | 947-3120 |
| Written Communications | false |
| Soliciting Material | false |
| Pre Commencement Tender Offer | false |
| Pre Commencement Issuer Tender Offer | false |
| Security 12b Title | Class A Common Stock, par value $0.01 per share |
| Trading Symbol | AMRX |
| Security Exchange Name | NYSE |
| Entity Emerging Growth Company | false |