Teligent, Inc. Announces Hiring of Chief Legal Officer and Corporate Secretary
July 17 2020 - 8:45AM
Teligent, Inc. (Nasdaq: TLGT) (“Teligent” or the “Company”), a New
Jersey based specialty generic pharmaceutical company, today
announced the hiring of Philip Yachmetz as Chief Legal Officer and
Corporate Secretary of the Company, effective July 16, 2020.
Timothy B. Sawyer, President and CEO of the Company, commented,
“We are pleased that Phil has agreed to join our Teligent
team. Phil’s extensive experience as a general counsel/chief
legal and compliance officer with pharmaceutical, biotechnology and
healthcare companies will be an excellent addition to our
team.”
Most recently, from 2015 through July 2020, Mr. Yachmetz served
as Chief Legal and Compliance Officer of Sovereign Medical
Services, Inc., a privately held fully integrated community
healthcare system company. Prior to his position at
Sovereign, Mr. Yachmetz held several senior executive positions at
Savient Pharmaceuticals, Inc., a publicly-held specialty
biopharmaceutical company from 2004 to 2014, including
Co-President, Chief Business Officer, Executive Vice President,
General Counsel and Secretary from 2004 to 2014. Mr. Yachmetz
holds a J.D. from the California Western School of Law and a B.A.
from George Washington University.
Inducement Award
In connection with the hiring of Mr. Yachmetz,
in addition to other compensation disclosed in Teligent’s Current
Report on Form 8-K, Teligent’s Board of Directors authorized the
grant to Mr. Yachmetz of (i) 23,505 restricted stock units; and
(ii) a non-qualified stock option to purchase 36,325 shares of
Common Stock. The awards are an inducement material to Mr.
Yachmetz’s entering into employment with Teligent in accordance
with Nasdaq Listing Rule 5635(c)(4). The option has a ten-year term
and an exercise price of $2.34 per share, the fair market value of
Teligent’s common stock on the date of grant. Each of the awards
will vest as follows: one-third (1/3) of the shares shall vest on
each of the first, second, and third anniversaries of Mr.
Yachmetz’s first date of employment, subject to Mr. Yachmetz’s
continued employment. The awards are subject to the terms and
conditions of a restricted stock unit agreement and stock option
agreement, respectively.
About Teligent, Inc.
Teligent is a specialty generic pharmaceutical
company. Our mission is to be a leading player in the specialty
generic prescription drug market. Learn more on our website
www.teligent.com.
Contact: |
Damian FinioTeligent, Inc.(856) 336-9117www.teligent.com |
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