Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On August 9, 2017, the Board of Directors (the Board) of Collegium Pharmaceutical, Inc. (the Company) appointed Gwen A. Melincoff as a member of the Board, effective immediately. Ms. Melincoff will serve as a Class III director, with an initial term expiring at the next annual meeting of shareholders in 2018.
Ms. Melincoff has over 25 years of leadership experience in the biotechnology and pharmaceutical industries. Ms. Melincoff is currently managing director at Gemini Advisors LLC and an advisor to Phase 1 Ventures and Verge Genomics. From August 2014 to September 2016, she served as Vice President of Business Development at BTG International Inc., a UK-specialist healthcare company. From September 2004 to the December 2013, Ms. Melincoff was Senior Vice President of Business Development at Shire Plc. In addition, from 2010 to 2013, she led the Shire Strategic Investment Group, the venture capital arm of Shire Plc. Prior to joining Shire Plc, Ms. Melincoff held managerial and business development position at various pharmaceutical companies, such as Adolor Corporation.
Ms. Melincoff currently serves on the boards of Kamada Ltd. (Nasdaq: KMDA) and Photocure ASA. Previously, she served as a board member or observer on the boards of Tobira Therapeutics (acquired by Allergan), DBV Technologies, AM Pharma, ArmaGen Technologies, Promethera Biosciences, Naurex Inc. (acquired by Allergan) and Enterome. Ms. Melincoff holds a B.S. in Biology from The George Washington University and an M.S. in Management and Health Care Administration from Pennsylvania State University. Ms. Melincoff has also attained the designation of Certified Licensing Professional (CLP). Ms. Melincoff was named a Top Women in Biotech 2013 by Fierce Biotech as well as being named to the Powerlist 100 of Corporate Venture Capital in 2012 and 2013.
Ms. Melincoffs annual compensation will be consistent with that provided to the Companys other non-employee directors, as described in the Companys Definitive Proxy Statement on Schedule 14A, filed with the U. S. Securities and Exchange Commission on April 13, 2017, under the heading Proposal 1: Election of DirectorsCorporate GovernanceCompensation of Non-Employee Directors. On August 9, 2017, the Company granted to Ms. Melincoff an option to purchase shares of common stock of the Company with a fair market value of $185,000 that vests and becomes exercisable on August 9, 2018, subject to Ms. Melincoffs continued service as a director of the Company.
In addition, Ms. Melincoff entered into an indemnification agreement with the Company effective August 9, 2017, substantially in the form of the indemnification agreement entered into between the Company and its other directors and executive officers, previously filed with the U.S. Securities and Exchange Commission on April 27, 2015 as Exhibit 10.37 to the Companys Registration Statement on Form S-1/A (File No. 333-203208).
There is no arrangement or understanding between Ms. Melincoff and any other persons pursuant to which Ms. Melincoff was selected as a director. There are no related party transactions involving Ms. Melincoff that are reportable under Item 404(a) of Regulation S-K.