PLIANT THERAPEUTICS, INC. (PLRX): restructuring charge — Pliant Therapeutics to cut 45% of workforce; CLO Mike Ouimette departs

PLIANT THERAPEUTICS, INC.

Reduction impacts ~45% of current employees; expected to substantially complete by end of Q2 2025.
Total severance and related benefits estimated at $3.6M, primarily one-time cash termination benefits.
Mike Ouimette, Chief Legal and Compliance Officer and Corporate Secretary, terminated effective May 1, 2025.

item 2.05 item 5.02

Executive movements

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Departed

Mike Ouimette

Chief Legal and Compliance Officer and Corporate Secretary

PLRX · PLIANT THERAPEUTICS, INC.

Effective: 2025-05-01
Filed: May 1, 2025, 7:59 PM ET

On May 1, 2025, the Company announced that in connection with the workforce reduction, the employment of Mike Ouimette, the Company’s Chief Legal and Compliance Officer and Corporate Secretary, would terminate effective May 1, 2025.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Mike Ouimette was terminated as Chief Legal and Compliance Officer and Corporate Secretary at PLIANT THERAPEUTICS, INC..

Action: terminated
Role: Chief Legal and Compliance Officer and Corporate Secretary

Exact text from the filing

On May 1, 2025, the Company announced that in connection with the workforce reduction, the employment of Mike Ouimette, the Company’s Chief Legal and Compliance Officer and Corporate Secretary, would terminate effective May 1, 2025.

View on SEC.gov

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

PLIANT THERAPEUTICS, INC. announced a restructuring with charges of $3.6 million (approximately 45% of its current employees).

Type: restructuring
Charge: $3.6 million
Headcount: approximately 45% of its current employees

Exact text from the filing

current employees. The Company expects to substantially complete the workforce reduction by the end of the second quarter of 2025. The Company expects to recognize approximately $3.6 million in total for severance and related benefits for employees laid off under the reduction in force. These charges are primarily one-time termination benefits and are primarily cash

View on SEC.gov

6 restructurings & charges filed in the last 30 days. Browse all restructurings & charges →

PLIANT THERAPEUTICS, INC. filing history →

Source: SEC EDGAR

accession 0001193125-25-109976

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