Ocuphire Pharma enters separation agreement with former CEO Sooch; $1.18M in lump sums

Opus Genetics, Inc.

$678,756 lump sum (base salary + pro rata bonus) plus $500,000 second lump sum after 6 months.
Stock options vest through April 19, 2024; exercisable until later of original expiration or April 19, 2026.
Restricted stock units vest as if employed through April 19, 2024.
Health insurance premiums paid for 12 months post-separation, subject to no other coverage.
Agreement includes non-competition, non-solicitation, mutual release and non-disparagement.

item 5.02

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Departed

Sooch

Chief Executive Officer

IRD · Opus Genetics, Inc.

Effective: 2023-04-19
Filed: June 14, 2023, 7:59 PM ET

Pursuant to the Separation and Release Agreement, Ms. Sooch will receive certain benefits in connection with Ms. Sooch being terminated without cause on April 19, 2023.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Sooch departed as Chief Executive Officer at Opus Genetics, Inc..

Action: terminated without cause
Role: Chief Executive Officer

Exact text from the filing

Pursuant to the Separation and Release Agreement, Ms. Sooch will receive certain benefits in connection with Ms. Sooch being terminated without cause on April 19, 2023.

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Opus Genetics, Inc. filing history →

Source: SEC EDGAR

accession 0001140361-23-029848

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