Current Report Filing (8-k)
April 14 2023 - 5:02PM
Edgar (US Regulatory)
0000057725
false
LANNETT CO INC
0000057725
2023-04-11
2023-04-11
iso4217:USD
xbrli:shares
iso4217:USD
xbrli:shares
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
April 11, 2023
LANNETT COMPANY, INC.
(Exact Name of Registrant as Specified in Its
Charter)
COMMISSION FILE NO. 001-31298
| State of Delaware |
|
23-0787699 |
| (State
of Incorporation) |
|
(I.R.S.
Employer I.D. No.) |
1150 Northbrook Drive, Suite 155
Trevose, PA 19053
(215) 333-9000
(Address of principal executive offices and telephone
number)
Securities registered pursuant to Section 12(b) of
the Act:
| Title
of each class |
|
Trading
Symbol(s) |
|
Name
of each exchange on which registered |
| Common Stock, $0.001 par value |
|
LCI |
|
New York Stock Exchange |
Check the appropriate box below if the Form 8-K filing
is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General
Instruction A.2. below):
¨ Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨ Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨ Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨ Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging
growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2
of the Securities Exchange Act of 1934 (§240.12b-2 of this Chapter).
Emerging growth company ¨
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
| Item 5.02 |
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On May 16, 2023, John Kozlowski will be leaving
Lannett Company, Inc. (the “Company”) to pursue other opportunities. In consideration of the extended notice period,
his 15 years loyal service and customary releases, he will be separated without cause from his position as Vice President of Finance,
Chief Financial Officer and Principal Accounting Officer.
In connection with his departure, on April 14,
2023, the Company entered into a separation agreement and general release (the “Separation Agreement”) with Mr. Kozlowski.
Under the terms of the Separation Agreement, which include customary confidentiality and non-disparagement provisions, Mr. Kozlowski will
receive a severance payment of $696,795 and certain other separation benefits.
The
company has in place succession plans for all its key employees and is currently reviewing succession planning alternatives to address the
chief financial officer role after Mr. Kozlowski’s departure.
The foregoing description of the Separation Agreement
does not purport to be complete and is qualified in its entirety by reference to the Separation Agreement, which is included as Exhibit
10.103 to this Current Report on Form 8-K and incorporated herein by reference.
| Item 9.01 |
Financial Statements and Exhibits. |
(d) Exhibits.
SIGNATURE
Pursuant to the requirements of the Securities
Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly
authorized.
| |
By: |
/s/ Samuel H. Israel |
| |
|
Chief Legal Officer and General Counsel |
| |
|
|
| |
|
Date: April 14,
2023 |
Lannett (NYSE:LCI)
Historical Stock Chart
From Apr 2024 to May 2024
Lannett (NYSE:LCI)
Historical Stock Chart
From May 2023 to May 2024
