Blog: PROTARA THERAPEUTICS, INC. : Change in Directors or Principal Officers, Regulation FD Disclosure, Financial Statements and Exhibits (form 8-K) –

Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On June 21, 2022 Protara Therapeutics, Inc. (the “Company”) announced that
Blaine Davis, Chief Financial Officer of the Company, will be leaving the
Company to pursue other opportunities effective as of July 15, 2022. Mr. Davis’s
resignation was not the result of any disagreement regarding any matter related
to the Company’s operations, policies or practices.

In connection with Mr. Davis’s resignation, Mr. Davis and the Company have also
entered into a Separation Agreement and Release, dated June 20, 2022 (the
“Agreement”), to memorialize the terms of his transition from the Company.
Pursuant to the Agreement, in consideration of a general release of all claims
against the Company and certain representations, warranties, covenants and
agreements, immediately following his departure, Mr. Davis is entitled to
receive (i) his base salary for a period of twelve months paid in a lump sum;
(ii) a one-time lump sum payment of his bonus at target; (iii) reimbursement of
all business expenses to which he is entitled; (iv) reimbursement of COBRA
premium costs for twelve months; (iv) reimbursement of supplemental life
insurance premium costs for twelve months; and (vi) pro rata vesting of his
outstanding option award grants and full vesting of his restricted stock unit
award grant.

The foregoing description of the terms of the Agreement does not purport to be
complete and is qualified in its entirety by the full text of the Agreement,
which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is
incorporated by reference herein.

Item 7.01. Regulation FD Disclosure.

On June 21, 2022, the Company issued a press release relating to the matters
described in Item 5.02 of this Current Report on Form 8-K. A copy of this press
release is furnished as Exhibit 99.1 hereto.

The information in this Item 7.01 and Exhibit 99.1 attached hereto is being
furnished to the Securities and Exchange Commission and shall not be deemed
“filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as
amended (the “Exchange Act”), or otherwise subject to the liabilities of that
Section, nor shall it be deemed incorporated by reference into any filing under
the Securities Act of 1933, as amended (the “Securities Act”), or the Exchange
Act, regardless of any general incorporation language in such filing, except as
expressly set forth by specific reference in such filing or, in the case of
Exhibit 99.1, as expressly set forth below.

This Current Report on Form 8-K contains forward-looking statements within the
meaning of Section 27A of the Securities Act and Section 21E of the Exchange
Act. The words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,”
“plan,” “predict,” “project,” “target,” “potential,” “will,” “would,” “could,”
“should,” “continue,” and similar expressions are intended to identify
forward-looking statements, although not all forward-looking statements contain
these identifying words. Readers are cautioned not to place undue reliance on
these forward-looking statements, which speak only as of the date of this
Current Report on Form 8-K, and the Company undertakes no obligation to update
any forward-looking statement except as required by law. These forward-looking
statements are based on estimates and assumptions by the Company’s management
that, although believed to be reasonable, are inherently uncertain and subject
to a number of risks. Actual results may differ materially from historical
results or those anticipated or predicted by the Company’s forward-looking
statements as a result of various important factors, including, but not limited
to, the impact of general economic, industry, market or political conditions and
the other risks and uncertainties identified in the Company’s periodic filings,
including the Company’s Annual Report on Form 10-K for the year ended December
31, 2021 and Quarterly Report on Form 10-Q for the period ended March 30, 2022.


Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

Number                              Exhibit Description

10.1        Separation Agreement and Release, dated as of June 20, 2022, by and
          between Blaine Davis and the Company
99.1        Press Release of Protara Therapeutics, Inc. issued June 21, 2022
104       Cover Page Interactive Data File (embedded within the Inline XBRL


© Edgar Online, source Glimpses

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s