UNITED STATES
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FORM
CURRENT REPORT
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| Item 5.02 | Departure of Directors; Election of Directors |
On July 10, 2022, Mr. Kuang-Tseng Chen, a director ABVC BioPharma, Inc. (the “Company”) notified the Company of his resignation from the board of directors for personal reasons, effective immediately. His resignation was not a result of any disagreements with the Company or any of its subsidiaries and affiliates on any matter related to the operations, policies, or practices of the Company or any of its subsidiaries and affiliates.
On July 10, 2022, the board of directors (“Board”) of the Company appointed Mr. Yu-Min (Francis) Chung as a director to fill the vacancy resulting from Mr. Chen’s resignation. Mr. Chung was a Partner at Maxpro Ventures, an investment firm in Taiwan focused on breakthrough biomedical technology companies, from July 2018 to May 2022. Prior to that, he served as Vice President at TaiAn Technology, which is a biotechnology service company and a management company for biotechnology venture capital funds in Taiwan, from June 2016 to June 2018. Mr. Chung received his Bachelor’s Degree of Science in Chemistry from National Taiwan University in 1987, Master’s Degree in Business Administration from National Taiwan University in 2006, and Ph.D in Pharmacy from University of Iowa in 1995.
Like all of the Company’s Directors, Mr. Chung shall receive $3,500 monthly compensation during his term. There is no family relationships between Mr. Chung and any director or executive officer of the Company, nor does Mr. Chung have a direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.
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SIGNATURE
Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| ABVC BioPharma, Inc. | ||
| July 14, 2022 | By: | /s/ Howard Doong |
| Howard Doong | ||
| Chief Executive Officer | ||
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