CEO William Febbo departs OptimizeRx; receives $675K salary continuation + $450K bonus

OptimizeRx Corp

William J. Febbo stepped down as CEO and Board member effective Dec 31, 2024; separation agreement signed Jan 3, 2025.
Severance includes $450k/yr base salary for 18 months ($675k total) and a lump-sum $450k bonus.
COBRA premium reimbursement for 12 months; advisory services through March 31, 2025 with continued equity vesting.
12-month non-compete and non-solicit obligations apply; no replacement CEO named yet.
Equity awards continue to vest during the 3-month advisory period.

item 5.02 item 9.01

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Departed

William J. Febbo

Chief Executive Officer

OPRX · OptimizeRx Corp

Effective: 2024-12-31
Filed: January 10, 2025, 6:59 PM ET

William J. Febbo stepped down from his positions as Chief Executive Officer (“CEO”) and Member of the Board of Directors (the “Board”) of OptimizeRx Corporation (the “Company”) effective as of December 31, 2024.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

William J. Febbo departed as Chief Executive Officer at OptimizeRx Corp.

Action: stepped down
Role: Chief Executive Officer

Exact text from the filing

William J. Febbo stepped down from his positions as Chief Executive Officer (“CEO”) and Member of the Board of Directors (the “Board”) of OptimizeRx Corporation (the “Company”) effective as of December 31, 2024.

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OptimizeRx Corp filing history →

Source: SEC EDGAR

accession 0001213900-25-002644

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