CorMedix CFO Matt David appointed interim CEO; salary to $425k, bonus 60%

CorMedix Inc.

Dr. David's base salary rises from $330k to $425k during interim CEO period; after, it resets to $375k.
Target annual bonus increased to 60% of base salary while interim CEO; thereafter 40%.
Severance extended to 12 months of base salary if terminated without cause during interim CEO role.
Board grants Dr. David a stock option for 125,000 shares, vesting over four years.
Board has initiated search with a leading executive firm for a permanent CEO.

item 5.02 item 9.01

Executive movements

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Role change (interim)

Matt David

interim Chief Executive Officer

CRMD · CorMedix Inc.

Effective: 2021-10-26
Filed: October 29, 2021, 7:59 PM ET

On October 26, 2021, CorMedix Inc. (“Company”) and Matt David, M.D., the Company’s current Chief Financial Officer, entered into a letter agreement (the “Letter Agreement”) modifying certain terms of his employment agreement with the Company, dated May 11, 2020 (“Employment Agreement”), and providing other compensation, as a result of Dr. David serving as interim Chief Executive Officer of the Company.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Matt David was appointed as interim Chief Executive Officer at CorMedix Inc..

Action: appointed
Role: interim Chief Executive Officer

Exact text from the filing

On October 26, 2021, CorMedix Inc. (“Company”) and Matt David, M.D., the Company’s current Chief Financial Officer, entered into a letter agreement (the “Letter Agreement”) modifying certain terms of his employment agreement with the Company, dated May 11, 2020 (“Employment Agreement”), and providing other compensation, as a result of Dr. David serving as interim Chief Executive Officer of the Company.

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CorMedix Inc. filing history →

Source: SEC EDGAR

accession 0001213900-21-055420

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