UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D)
OF THE SECURITIES EXCHANGE ACT OF 1934
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Item 5.02. | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On May 24, 2022, the Board of Directors of Marinus Pharmaceuticals, Inc. (the “Company”) approved a retention program pursuant to which all of the Company’s executive and non-executive employees were granted restricted stock units (the “RSUs”) to acquire up to an aggregate of 258,938 shares of the Company’s common stock, par value $0.001 per share (the “Common Stock”), pursuant to the Company’s 2014 Equity Incentive Plan, as amended (the “Retention Program”). Each RSU represents the right to receive one share of Common Stock. The RSUs granted pursuant to the Retention Program vest in two equal installments, with the first installment vesting on August 4, 2023, and the second installment vesting on August 4, 2024, subject to the applicable RSU holder’s continued service with the Company. The RSU awards are designed to drive employee retention through completion of key clinical and regulatory milestones associated with the Company’s ongoing programs in refractory status epilepticus and tuberous sclerosis complex and during critical commercial and manufacturing scale-up activities. Pursuant to the Retention Program: (i) Scott Braunstein, M.D., President and Chief Executive Officer, was granted an RSU to acquire 19,305 shares of Common Stock; (ii) Joseph Hulihan, M.D., Chief Medical Officer, was granted an RSU to acquire 7,718 shares of Common Stock; and (iii) Steven Pfanstiel, Chief Financial Officer and Treasurer, was granted an RSU to acquire 7,448 shares of Common Stock.
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.
MARINUS PHARMACEUTICALS, INC. | |
Date: May 26, 2022 | /s/ Steven Pfanstiel |
Steven Pfanstiel | |
Chief Financial Officer and Treasurer |