Rockwell Medical CEO Russell Ellison steps down; Mark Strobeck appointed CEO; DaVita gets $7.5M preferred stock

ROCKWELL MEDICAL, INC.

CEO Russell Ellison steps down effective June 30, 2022; severance includes $500K base salary and $350K target bonus over 12 months plus option vesting extension.
Mark Strobeck appointed President and CEO effective July 1, 2022; base salary $550K, target bonus 60%, initial time-based option grant of 400,000 shares.
Issued additional 7,500 shares of Series X Convertible Preferred Stock to DaVita on June 16, 2022 for gross proceeds of $7.5 million (second closing under SPA).
Dr. Strobeck also appointed to the Board as a Class III director with term through 2024 annual meeting.

item 3.02 item 5.02 item 8.01 item 9.01

Executive movements

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Appointed

Mark Strobeck

President and Chief Executive Officer

RMTI · ROCKWELL MEDICAL, INC.

Effective: 2022-07-01
Filed: June 22, 2022, 7:59 PM ET

the Board appointed Mark Strobeck, Ph.D. as the Company’s President and Chief Executive Officer and as a Class III Director to serve until the Company’s 2024 Annual Meeting of Stockholders and until his successor is duly elected and qualified, effective July 1, 2022

Departed

Russell H. Ellison

President and Chief Executive Officer

RMTI · ROCKWELL MEDICAL, INC.

Effective: 2022-06-30
Successor: Mark Strobeck
Filed: June 22, 2022, 7:59 PM ET

Russell H. Ellison, M.D., M.Sc., will be stepping down from his role as the President and Chief Executive Officer of the Company, effective as of June 30, 2022

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Mark Strobeck was appointed as President and Chief Executive Officer at ROCKWELL MEDICAL, INC..

Action: appointed
Role: President and Chief Executive Officer

Exact text from the filing

the Board appointed Mark Strobeck, Ph.D. as the Company’s President and Chief Executive Officer and as a Class III Director to serve until the Company’s 2024 Annual Meeting of Stockholders and until his successor is duly elected and qualified, effective July 1, 2022

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Russell H. Ellison departed as President and Chief Executive Officer at ROCKWELL MEDICAL, INC..

Action: stepping down
Role: President and Chief Executive Officer

Exact text from the filing

Russell H. Ellison, M.D., M.Sc., will be stepping down from his role as the President and Chief Executive Officer of the Company, effective as of June 30, 2022

View on SEC.gov

ROCKWELL MEDICAL, INC. filing history →

Source: SEC EDGAR

accession 0001104659-22-073284

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