UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event Reported): April 13, 2020

Amphastar Pharmaceuticals, Inc.

(Exact Name of Registrant as Specified in Charter)

Registrant's telephone number, including area code: (909) 980-9484

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

◻Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

◻Soliciting material pursuant to  Rule  14a-12 under the Exchange Act (17 CFR 240.14a-12)

◻Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

◻Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ◻

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ◻

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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 April 13, 2020, the Board of Directors (“Board”) of Amphastar Pharmaceuticals, Inc. (the “Company”) and Jason B. Shandell mutually agreed that Mr. Shandell would resign from his position as President and General Counsel, effective immediately. Mr. Shandell also resigned as a member of the Board, effective immediately. The resignation of Mr. Shandell is not the result of any disagreement with the Company relating to the Company’s operations, policies or practices.

In connection with Mr. Shandell’s departure, Dr. Jack Y. Zhang, the Company’s Chief Executive Officer, Chief Scientific Officer and a member of the Board, assumed the role and responsibilities of President, effective immediately. No changes have been made to the existing compensatory arrangements between the Company and Dr. Zhang. The Company previously reported in its Proxy Statement on Form DEF 14A filed on April 18, 2019, information regarding Dr. Zhang required by Items 401(b), (d), (e) and Item 404(a) of Regulation S-K, and such information is hereby incorporated by reference into this Current Report on Form 8-K.

In connection with Mr. Shandell’s departure, the Company and Mr. Shandell have entered into a separation agreement (the “Separation Agreement”). Pursuant to the terms of the Separation Agreement, Mr. Shandell will release all claims he may have against the Company and affirmed his obligations regarding Company confidential information. As consideration for the release of claims, Mr. Shandell will receive $2,425,376 cash, the Company will vest 80% of his unvested options and RSUs, purchase Mr. Shandell’s ownership interest in Amphastar Nanjing Pharmaceuticals Inc., a subsidiary of the Company, at fair market value, and Mr. Shandell will receive three years of healthcare coverage provided by the Company. The foregoing description of the Separation Agreement does not purport to be complete and is qualified in its entirety by reference to the Separation Agreement, which will be filed as an exhibit to the Company's Quarterly Report on Form 10-Q for the quarter ending June 30, 2020.

Dr. Zhang’s appointment and Mr. Shandell’s departure are further described in the press release furnished as Exhibit 99.1.

Item 9.01.Financial Statements and Exhibits.

(d) Exhibits

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.