---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-22-308465"
form_type: "8-K"
ticker: null
cik: "0001493566"
company_name: "OTONOMY, INC."
filed_at: "2022-12-19T23:59:59+00:00"
generated_at: "2026-06-21T02:27:56.709451+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 1.0
calibrated_materiality_score: 1.0
confidence: "high"
source: SEC EDGAR
---

# Otonomy board approves liquidation and dissolution; all employees terminated

## Summary
- Board approved Plan of Liquidation and Dissolution on Dec 13, 2022, subject to stockholder approval.
- Workforce eliminated effective Dec 15, 2022; all employees including officers terminated.
- Estimated $5.0M severance and termination costs in Q4 2022.
- CEO David Weber remains on board; CFO Paul Cayer appointed President and continues on consulting basis.
- Company will seek stockholder approval at special meeting in Q1 2023, then delist and distribute remaining cash.

## SEC filing metadata
- accession: 0001193125-22-308465
- form_type: 8-K
- cik: 0001493566
- company_name: OTONOMY, INC.
- filed_at: 2022-12-19T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 1.0
- calibrated_materiality_score: 1.0
- confidence: high
- sec_items: 2.05, 5.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1493566/000119312522308465/0001193125-22-308465-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1493566/000119312522308465/d399197d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-22-308465
- JSON: https://secwatch.observer/filing/0001193125-22-308465.json
- Plain text: https://secwatch.observer/filing/0001193125-22-308465.txt

## Key facts
- Executive change
  Paul E. Cayer was appointed as President at OTONOMY, INC..
  - Action: appointed President
  - Role: President
  source text: Mr. Cayer continues to serve as Chief Financial and Business Officer and Secretary, was appointed President effective December 15, 2022
  evidence_url: https://www.sec.gov/Archives/edgar/data/1493566/000119312522308465/0001193125-22-308465-index.htm
- Executive change
  Alan C. Foster departed as Chief Scientific Officer at OTONOMY, INC..
  - Action: terminated employment
  - Role: Chief Scientific Officer
  source text: and Alan C. Foster, Ph.D., Chief Scientific Officer, terminated employment with the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1493566/000119312522308465/0001193125-22-308465-index.htm
- Restructurings & Charges
  OTONOMY, INC. announced a restructuring with charges of aggregate charges of approximately $5.0 million for severance and other employee termination-related costs affecting all employees (termination of all employees).
  - Type: restructuring
  - Charge: aggregate charges of approximately $5.0 million for severance and other employee termination-related costs
  - Affected area: all employees
  - Headcount: termination of all employees
  source text: the Company has reduced its workforce, including the termination of all employees, effective as of December 15, 2022 (the “Reduction”). The Company estimates that it will incur aggregate charges of approximately $5.0 million for severance and other employee termination-related costs in the fourth quarter of 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1493566/000119312522308465/0001193125-22-308465-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.