8-K
filed November 14, 2024, 6:59 PM ET
CIK 0001733413
other material
confidence high
sentiment negative
materiality 1.00
TFF Pharmaceuticals, Inc.: restructuring charge — TFF Pharmaceuticals dissolves, terminates all employees, appoints new CEO to wind down
TFF Pharmaceuticals, Inc.
- Board approved Plan of Dissolution subject to stockholder vote; license pact with UT Austin terminated.
- Substantially all employees terminated Nov 15; estimated $1.8M in severance and exit costs.
- Entire board and top officers (CEO, CFO, CMO) resigned; Craig Jalbert appointed sole director/officer.
- Jalbert to receive $10K/month until shareholder vote, then $50K/year for three years post-dissolution.
- Company will wind down operations and dissolve, pending stockholder approval of the plan.
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.95
Kirk Coleman departed as Chief Financial Officer at TFF Pharmaceuticals, Inc..
- Action
- ceased serving
- Role
- Chief Financial Officer
Exact text from the filing
Harlan Weisman, M.D., Kirk Coleman and Zamaneh Mikhak, Ph.D., ceased serving as President/Chief Executive Officer, Chief Financial Officer and Chief Medical Officer, respectively, to be effective as of November 14, 2024.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Zamaneh Mikhak departed as Chief Medical Officer at TFF Pharmaceuticals, Inc..
- Action
- ceased serving
- Role
- Chief Medical Officer
Exact text from the filing
Harlan Weisman, M.D., Kirk Coleman and Zamaneh Mikhak, Ph.D., ceased serving as President/Chief Executive Officer, Chief Financial Officer and Chief Medical Officer, respectively, to be effective as of November 14, 2024.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Harlan Weisman departed as President/Chief Executive Officer at TFF Pharmaceuticals, Inc..
- Action
- ceased serving
- Role
- President/Chief Executive Officer
Exact text from the filing
Harlan Weisman, M.D., Kirk Coleman and Zamaneh Mikhak, Ph.D., ceased serving as President/Chief Executive Officer, Chief Financial Officer and Chief Medical Officer, respectively, to be effective as of November 14, 2024.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Brandi Roberts resigned as Member of the Board at TFF Pharmaceuticals, Inc..
- Action
- resigned
- Role
- Member of the Board
Exact text from the filing
Harlan Weisman, M.D., Robert J. Mills, Stephen Rocamboli, Brandi Roberts, Catherine Lee and Thomas King, each notified the Company of their respective resignations as members of the Board and all committees thereof, effective November 14, 2024.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Craig R. Jalbert was appointed as President, Chief Executive Officer, Chief Financial Officer, Treasurer, Secretary at TFF Pharmaceuticals, Inc..
- Action
- appointed
- Role
- President, Chief Executive Officer, Chief Financial Officer, Treasurer, Secretary
Exact text from the filing
the Board appointed Craig R. Jalbert, age 63, as the Company's President, Chief Executive Officer, Chief Financial Officer, Treasurer, Secretary and sole member of the Board, effective November 14, 2024.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Thomas King resigned as Member of the Board at TFF Pharmaceuticals, Inc..
- Action
- resigned
- Role
- Member of the Board
Exact text from the filing
Harlan Weisman, M.D., Robert J. Mills, Stephen Rocamboli, Brandi Roberts, Catherine Lee and Thomas King, each notified the Company of their respective resignations as members of the Board and all committees thereof, effective November 14, 2024.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Harlan Weisman resigned as Member of the Board at TFF Pharmaceuticals, Inc..
- Action
- resigned
- Role
- Member of the Board
Exact text from the filing
Harlan Weisman, M.D., Robert J. Mills, Stephen Rocamboli, Brandi Roberts, Catherine Lee and Thomas King, each notified the Company of their respective resignations as members of the Board and all committees thereof, effective November 14, 2024.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Stephen Rocamboli resigned as Member of the Board at TFF Pharmaceuticals, Inc..
- Action
- resigned
- Role
- Member of the Board
Exact text from the filing
Harlan Weisman, M.D., Robert J. Mills, Stephen Rocamboli, Brandi Roberts, Catherine Lee and Thomas King, each notified the Company of their respective resignations as members of the Board and all committees thereof, effective November 14, 2024.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Craig R. Jalbert was appointed as Sole member of the Board at TFF Pharmaceuticals, Inc..
- Action
- appointed
- Role
- Sole member of the Board
Exact text from the filing
the Board appointed Craig R. Jalbert, age 63, as the Company's President, Chief Executive Officer, Chief Financial Officer, Treasurer, Secretary and sole member of the Board, effective November 14, 2024.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Catherine Lee resigned as Member of the Board at TFF Pharmaceuticals, Inc..
- Action
- resigned
- Role
- Member of the Board
Exact text from the filing
Harlan Weisman, M.D., Robert J. Mills, Stephen Rocamboli, Brandi Roberts, Catherine Lee and Thomas King, each notified the Company of their respective resignations as members of the Board and all committees thereof, effective November 14, 2024.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Robert J. Mills resigned as Member of the Board at TFF Pharmaceuticals, Inc..
- Action
- resigned
- Role
- Member of the Board
Exact text from the filing
Harlan Weisman, M.D., Robert J. Mills, Stephen Rocamboli, Brandi Roberts, Catherine Lee and Thomas King, each notified the Company of their respective resignations as members of the Board and all committees thereof, effective November 14, 2024.
View on SEC.gov
Restructurings & Charges
SEC 8-K Item 2.05/2.06
confidence 0.9
TFF Pharmaceuticals, Inc. announced a restructuring with charges of approximately $1.8 million (substantially all of its employees).
- Type
- restructuring
- Charge
- approximately $1.8 million
- Headcount
- substantially all of its employees
Exact text from the filing
On November 14, 2024, in connection with the planned wind down of the Company’s operations, the Board of the Company unanimously approved a reduction-in-force (the “Reduction in Force”) of substantially all of its employees to be effective on November 15, 2024. The Company expects to incur one-time charges and cash expenditures associated with the workforce reduction of approximately $1.8 million
View on SEC.gov
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