Current Report Filing (8-k)
October 18 2021 - 5:02PM
Edgar (US Regulatory)
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0001359931
2021-10-15
2021-10-15
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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): October 15, 2021
Protara
Therapeutics, Inc.
(Exact
name of registrant as specified in its charter)
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Delaware
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001-36694
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20-4580525
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(State
or other jurisdiction
of incorporation)
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(Commission
File No.)
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(IRS
Employer
Identification No.)
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345
Park Avenue South
Third
Floor
New
York, NY
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10010
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(Address
of principal executive offices)
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|
(Zip
Code)
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Registrant’s
telephone number, including area code: (646) 844-0337
N/A
(Former
name or former address, if changed since last report.)
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:
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☐
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Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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☐
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Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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☐
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Pre-commencement communications
pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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☐
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Pre-commencement communications
pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Securities
registered pursuant to Section 12(b) of the Act:
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Title
of each class
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Trading
Symbol(s)
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Name
of each exchange on which registered
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Common
Stock, par value $0.001 per share
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TARA
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The
Nasdaq Capital Market
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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.
Effective
October 15, 2021, Martín Sebastian Olivo, M.D. will no longer be employed by the Company as Chief Medical Officer (the “Separation”).
Dr. Olivo and the Company have entered into a consulting agreement (the “Consulting Agreement”), effective October 16, 2021,
pursuant to which Dr. Olivo will provide consulting and transition services to the Company through November 22, 2021.
In
connection with the Separation, Dr. Olivo and the Company have also entered into a Separation Agreement and Release, dated October 15,
2021 (the “Separation Agreement”), to memorialize the terms of his severance arrangements with the Company. Pursuant to the
Separation Agreement, in consideration of a general release of all claims against the Company and certain representations, warranties,
covenants and agreements, Dr. Olivo is entitled to receive (i) his base salary for a period of nine months paid in a lump sum; (ii) a
one-time lump sum pro-rata payment of his bonus at target; (iii) reimbursement of all business expenses for which he is entitled; (iv)
reimbursement of COBRA premium costs for nine months; (v) reimbursement of supplemental life insurance premium costs for nine months;
and (vi) pro-rata vesting of his outstanding equity award, as he was not employed through the one-year anniversary of the grant date
of such outstanding equity award.
The
foregoing descriptions of the terms of the Consulting Agreement and the Separation Agreement do not purport to be complete and are qualified
in their entirety by the full text of the Consulting Agreement and the Separation Agreement, which are filed as Exhibit 10.1 and Exhibit
10.2, respectively, to this Current Report on Form 8-K and are incorporated by reference herein.
Item
8.01. Other Events.
Effective
October 15, 2021, the Company promoted Jathin Bandari, M.D. to the position of VP, Head of Clinical Development and Interim Chief Medical
Officer. Dr. Bandari joined Protara in April 2020. He is a Urologic Oncologist who specializes in both minimally invasive urologic
oncology and advanced open pelvic and retroperitoneal cancer surgery. Dr. Bandari received his medical degree at Johns Hopkins University
and completed his urology residency at University of Pittsburgh Medical Center. Following residency, he completed a Society of Urologic
Oncology fellowship at the University of Pittsburgh Medical Center. Dr. Bandari maintains an academic appointment at the University
of Rochester.
Item
9.01. Financial Statements and Exhibits.
(d)
Exhibits
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
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Dated:
October 18, 2021
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Protara
Therapeutics, Inc.
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By:
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/s/
Blaine Davis
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Blaine
Davis
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Chief
Financial Officer
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2
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