Teligent Announces Hiring of Chief Financial Officer
April 15 2021 - 7:30AM
Teligent, Inc. (NASDAQ: TLGT) (“Teligent” or the “Company”), a
New Jersey-based specialty generic pharmaceutical
company, today announced the hiring and appointment of Ernest
R. De Paolantonio as Chief Financial Officer of the Company,
effective April 15, 2021.
Timothy B. Sawyer, President and CEO of the
Company, commented, “We are very pleased that Ernie has agreed to
join our Teligent team. Over the last several months, we have made
key additions to our leadership team, and the appointment of Ernie
to the CFO position reflects our commitment to bring in highly
talented and experienced individuals who have a strong track record
of success. Ernie’s extensive experience as a chief financial
officer with pharmaceutical and healthcare companies will be an
excellent addition to our team.”
Mr. De Paolantonio has over 40 years of
financial and business experience in the pharmaceutical industry.
Most recently, Mr. De Paolantonio served as Chief Financial
Officer of Fortovia Therapeutics Inc., a privately held healthcare
company providing support to cancer patients and their families.
Prior to his position at Fortovia, he served as Chief Financial
Officer, Secretary and Treasurer at BioDelivery Sciences
International, Inc., a publicly-held specialty pharmaceutical
company from 2013 to 2019. Prior to his position with BioDelivery
Sciences, he served as the Chief Financial Officer of CorePharma
LLC, a private specialty generic company, and held finance and
controllers’ positions in roles of increasing responsibility at
Colombia Laboratories. Mr. De Paolantonio received his
Bachelor of Arts Degree from Lycoming College; his MBA in Finance
at Saint Joseph’s University and is a licensed CPA.
Inducement Award
In connection with the hiring of Mr.
De Paolantonio, in addition to other compensation disclosed in
Teligent’s Current Report on Form 8-K, Teligent’s Board of
Directors authorized the grant to Mr. De Paolantonio of (i)
195,000 restricted stock units; and (ii) a non-qualified stock
option to purchase 240,000 shares of Common Stock. The awards are
an inducement material to Mr. De Paolantonio’s entering into
employment with Teligent in accordance with Nasdaq Listing Rule
5635(c)(4). The option has a ten-year term and an exercise price
equal to the fair market value of Teligent’s common stock on the
effective date of Mr. De Paolantonio’s employment. The
restricted stock unit award will vest in four equal installments on
each yearly anniversary of the effective date of Mr.
De Paolantonio’s employment and the option will vest on the
third anniversary of the effective date based on the pro-rata
achievement of certain performance milestones by the Company. The
vesting of the awards are subject to Mr. De Paolantonio’s
continued employment and are subject to the terms and conditions of
a restricted stock unit agreement and stock option agreement,
respectively.
Forward-Looking Statements
This press release includes “forward-looking
statements” that are intended to qualify for the safe harbors from
liability provided by Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. All statements other than statements of historical
facts are statements that could be deemed forward-looking. These
statements are based on current expectations, estimates, forecasts
and projections about the Company’s business and the industry in
which the Company operates and the beliefs and assumptions of the
Company’s management. Forward-looking statements can be identified
by the use of words such as “will,” “may,” “could,” “should,”
“would,” “believe,” “depends,” “expect,” “goal,” “anticipate,”
“forecast,” “project,” “future,” “intend,” “plan,” “estimate,”
“target,” “indicate,” “outlook,” and similar expressions of future
intent or the negative of such terms. Forward-looking statements
are neither historical facts nor assurances of future performance.
Instead, these forward-looking statements are based on
management’s current beliefs, expectations and assumptions and are
subject to risks and uncertainties. These statements are based
on the Company’s current beliefs or expectations and are inherently
subject to various risks and uncertainties, including those set
forth under the caption “Risk Factors” in the Company’s most recent
Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and
other periodic reports the Company files with the Securities and
Exchange Commission. Additionally, many of these risks and
uncertainties are currently amplified by and will continue to be
amplified by, or in the future may be amplified by, the COVID-19
outbreak and the effects thereof on the Company’s future
performance and results of operations. It is not possible to
predict or identify all such risks. There may be additional risks
that the Company considers immaterial or which are unknown. You
should not rely upon forward-looking statements as predictions of
future events. The forward-looking statements included in
this press release speak only as of the date hereof and, subject to
any continuing obligations under applicable law or any relevant
stock exchange rules, we expressly disclaim any obligation to
disseminate, after the date of this document, any updates or
revisions to any such forward-looking statements to reflect any
change in expectations or events, conditions or circumstances on
which any such statements are based.
Contact: Philip K. YachmetzTeligent, Inc. (856) 776-4632
www.teligent.com
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