Collegium appoints Michael Heffernan interim CEO with base salary $291,666; Ciaffoni separation agreed

COLLEGIUM PHARMACEUTICAL, INC

Michael Heffernan appointed Interim President and CEO effective May 24, 2024; annual base salary $291,666 (one-third of prior CEO).
Heffernan's employment is at-will; Board may terminate at any time or extend by mutual agreement.
Separation and Release Agreement with departing CEO Joseph Ciaffoni grants severance per employment agreement for termination without cause.

item 5.02

Executive movements

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Appointed (interim)

Michael Heffernan

Interim President and Chief Executive Officer

COLL · COLLEGIUM PHARMACEUTICAL, INC

Effective: 2024-05-24
Filed: May 24, 2024, 7:59 PM ET

On May 24, 2024, Collegium Pharmaceutical, Inc. (the “Company”) entered into a letter agreement (the “Letter Agreement”) with Michael Heffernan in connection with Mr. Heffernan’s appointment as Interim President and Chief Executive Officer of the Company.

Departed

Joseph Ciaffoni

Chief Executive Officer

COLL · COLLEGIUM PHARMACEUTICAL, INC

Effective: 2024-05-24
Successor: Michael Heffernan
Filed: May 24, 2024, 7:59 PM ET

Also on May 24, 2024, the Company entered into a Separation and Release Agreement with Mr. Ciaffoni (the “Separation Agreement”) in connection with his previously announced departure from the Company.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Michael Heffernan was appointed as Interim President and Chief Executive Officer at COLLEGIUM PHARMACEUTICAL, INC.

Action: appointed
Role: Interim President and Chief Executive Officer

Exact text from the filing

On May 24, 2024, Collegium Pharmaceutical, Inc. (the “Company”) entered into a letter agreement (the “Letter Agreement”) with Michael Heffernan in connection with Mr. Heffernan’s appointment as Interim President and Chief Executive Officer of the Company.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Joseph Ciaffoni departed as Chief Executive Officer at COLLEGIUM PHARMACEUTICAL, INC.

Action: departed
Role: Chief Executive Officer

Exact text from the filing

Also on May 24, 2024, the Company entered into a Separation and Release Agreement with Mr. Ciaffoni (the “Separation Agreement”) in connection with his previously announced departure from the Company.

View on SEC.gov

COLLEGIUM PHARMACEUTICAL, INC filing history →

Source: SEC EDGAR

accession 0001104659-24-065119

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