Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 1.0
Sandra Gardiner was appointed as interim Chief Financial Officer at NEKTAR THERAPEUTICS.
- Action
- retained as
- Role
- interim Chief Financial Officer
Exact text from the filing
Effective April 17, 2023, Sandra Gardiner, a partner in FLG Partners, LLC, a Silicon Valley chief financial officer services and board advisory firm (“FLG”), will be retained as the interim Chief Financial Officer and shall be the principal financial and accounting officer of the Company.
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Executive change
SEC 8-K Item 5.02
confidence 1.0
Jillian Thomsen departed as Chief Financial Officer at NEKTAR THERAPEUTICS.
- Action
- stepped down
- Role
- Chief Financial Officer
Exact text from the filing
On April 17, 2023, Jillian Thomsen stepped down as the Chief Financial Officer of the Company and will depart the Company in June 2023 following a transition period.
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Restructurings & Charges
SEC 8-K Item 2.05/2.06
confidence 0.9
NEKTAR THERAPEUTICS announced a restructuring with charges of non-recurring cash payments of approximately $8 million affecting San Francisco-based workforce (approximately 60%).
- Type
- restructuring
- Charge
- non-recurring cash payments of approximately $8 million
- Affected area
- San Francisco-based workforce
- Headcount
- approximately 60%
Exact text from the filing
On April 17, 2023, the duly authorized officers of the “Company approved a new strategic reprioritization and cost restructuring plan (the “2023 Restructuring Plan”). Pursuant to the 2023 Restructuring Plan, the Company will undertake several cost-reduction actions to reduce costs, including a reduction in its San Francisco-based workforce by approximately 60% that is expected to be substantially completed by June 2023. In connection with these actions, the Company expects non-recurring cash payments of approximately $8 million primarily in the second quarter of 2023 associated principally with the workforce reduction, including one-time employee severance and termination payments.
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