Current Report Filing (8-k)
July 19 2021 - 9:01AM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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): July 14, 2021
Bionik
Laboratories Corp.
(Exact Name of Registrant
as Specified in Its Charter)
Delaware
|
|
000-54717
|
|
27-1340346
|
(State or Other Jurisdiction of
Incorporation or Organization)
|
|
(Commission File Number)
|
|
(IRS Employer Identification No.)
|
483 Bay Street, N105
Toronto, ON
|
|
M5G 2C9
|
(Address of Principal Executive Offices)
|
|
(Zip Code)
|
Registrant’s Telephone Number, Including
Area Code: (416) 640-7887
(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 (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. ¨
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
|
|
Trading Symbol
|
|
Name of each exchange on which
registered
|
Not applicable
|
|
Not applicable
|
|
Not applicable
|
Item 1.01
|
Entry Into A Material Definitive Agreement
|
Bionik
Laboratories Corp. (the “Company”) entered into a Separation Agreement (the “Agreement”), dated as of July 14,
2021, with Dr. Eric Dusseux, the Company’s Chief Executive Officer, pursuant to which, among other things, the Company and
Dr. Dusseux agreed to end their employer-employee relationship.
Pursuant to the Agreement, Dr. Dusseux resigned
from all employment and officer positions with the Company and its subsidiaries, including as a director of the Company.
The Company’s May 31, 2019 option grant
to Dr. Dusseux is exercisable through, and the termination date is extended through, July 26, 2026. In addition, all other options
granted to Dr. Dusseux shall continue in accordance with their terms, except that all unvested options as of the separation date
have lapsed and shall not be exercisable.
The Agreement provides for customary mutual general
releases and confidentiality and non-disparagement provisions. In addition, the restrictive covenants in Dr. Dusseux’s employment
agreement dated September 1, 2017, as amended, shall continue in accordance with their respective terms. Except as specifically set
forth in and pursuant to the Separation Agreement, the Company has no obligation to pay any other salary, wages, bonuses, commissions,
incentive compensation, vacation or severance to Dr. Dusseux.
The Company shall retain certain indemnity obligations
in favor of Dr. Dusseux, as specified in the Separation Agreement.
The foregoing is a brief description of the Agreement
and the material terms of the Agreement and is qualified in its entirety by reference to the full text of the Agreement.
Item 5.02
|
Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers
|
As of July 14, 2021, Dr. Dusseux resigned
from all employment and officer positions with the Company and its subsidiaries, including as CEO and as a director of the Company. Dr. Dusseux’s
resignation as a director was not due to a disagreement with the Company on any matter relating to the Company’s operations, policies
or practices.
Rich Russo Jr., Bionik’s current Chief Financial
Officer, will assume the role of Interim CEO. The Board of Directors of the Company has begun a search for Dr. Dusseux’s successor.
The information set forth in Item 1.01 is incorporated
by reference into this Item 5.02.
Item
7.01
|
Regulation FD Disclosure
|
On
July 19, 2021, the Company issued a press release announcing that Dr. Dusseux has resigned as Chief Executive Officer
and stepped down from the board, to pursue an opportunity outside the rehabilitation robotic device industry. Rich Russo Jr., Bionik’s
current Chief Financial Officer, will assume the role of Interim CEO. The Board of Directors of the Company has begun a search for Dr. Dusseux’s
successor.
A copy of the press release is furnished as Exhibit 99.1
to this Current Report on Form 8-K and is incorporated herein by reference. The information in this report (including Exhibit 99.1)
is being furnished pursuant to Item 7.01 and shall not be deemed to be “filed” for the purposes of Section 18 of the
Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section. This report will not be deemed an
admission as to the materiality of any information herein (including Exhibit 99.1).
Item 9.01
|
Financial Statements and 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 thereunto
duly authorized.
Date: July 19, 2021
|
BIONIK LABORATORIES CORP.
|
|
|
|
|
By:
|
/s/ Richard Russo
|
|
Name:
|
Richard Russo
|
|
Title:
|
Chief Financial Officer
|
Bionik Laboratories (CE) (USOTC:BNKL)
Historical Stock Chart
From Jun 2024 to Jul 2024
Bionik Laboratories (CE) (USOTC:BNKL)
Historical Stock Chart
From Jul 2023 to Jul 2024