Amarin cuts US workforce ~65%, expects $100M savings; CFO Kalb out, Reilly in

AMARIN CORP PLCUK

US commercial team reduced ~90% from pre-pandemic levels; total employee base cut >40%.
Expects ~$100M in operating cost savings over 12 months; $10M restructuring charge in Q2 2022.
CFO Michael Kalb resigns to pursue other interests; Tom Reilly appointed CFO effective June 20, 2022.
Reilly receives $525K base salary, 50% bonus target, $100K sign-on cash, plus equity awards.
Restructuring driven by generic competition to Vascepa in the US; company focuses on European launches.

item 2.05 item 5.02 item 7.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

Michael W. Kalb

Senior Vice President and Chief Financial Officer

AMRN · AMARIN CORP PLCUK

Effective: 2022-06-20
Successor: Tom Reilly
Filed: June 6, 2022, 7:59 PM ET

On June 1, 2022, Michael W. Kalb, Amarin’s Senior Vice President and Chief Financial Officer (and principal accounting officer) notified Amarin that he would be resigning from the Company

Appointed

Tom Reilly

Senior Vice President and Chief Financial Officer

AMRN · AMARIN CORP PLCUK

Effective: 2022-06-20
Filed: June 6, 2022, 7:59 PM ET

on June 6, 2022, Amarin announced the appointment of Tom Reilly as Amarin’s new Senior Vice President and Chief Financial Officer (and principal accounting officer) (the “ CFO ”) as successor to Mr. Kalb, effective June 20, 2022

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Michael W. Kalb resigned as Senior Vice President and Chief Financial Officer at AMARIN CORP PLCUK.

Action: resigned
Role: Senior Vice President and Chief Financial Officer

Exact text from the filing

On June 1, 2022, Michael W. Kalb, Amarin’s Senior Vice President and Chief Financial Officer (and principal accounting officer) notified Amarin that he would be resigning from the Company

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Tom Reilly was appointed as Senior Vice President and Chief Financial Officer at AMARIN CORP PLCUK.

Action: appointed
Role: Senior Vice President and Chief Financial Officer

Exact text from the filing

on June 6, 2022, Amarin announced the appointment of Tom Reilly as Amarin’s new Senior Vice President and Chief Financial Officer (and principal accounting officer) (the “ CFO ”) as successor to Mr. Kalb, effective June 20, 2022

View on SEC.gov

AMARIN CORP PLCUK filing history →

Source: SEC EDGAR

accession 0001193125-22-168396

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