Makes sense as there is not much for Dr. Troupin to do. Doesn't appear that the company will accrue savings from her departure in 2016. This from the 8K:
>On April 13, 2016, Apricus Biosciences, Inc. (the "Company") entered into an Employment Transition Agreement with Barbara Troupin, M.D., M.B.A., the Company's Senior Vice President, Chief Medical Officer. Pursuant to the agreement, Dr. Troupin's employment with the Company will terminate effective as of May 31, 2016. Dr. Troupin intends to pursue other opportunities in light of the Company's decision to deprioritize its pipeline assets and focus on the commercialization of Vitaros. Pursuant to the agreement, following her termination of employment and subject to her execution of a general release of claims, Dr. Troupin will be entitled to receive certain severance benefits, including the payment of her annual base salary, an amount equal to her annual bonus for 2015, six months of continued health benefits at Company expense, and full acceleration of all of her outstanding equity awards.< |
