Form 8-K - Current report

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): June 17, 2024

GRI BIO, INC.

(Exact name of registrant as specified in its charter)

Delaware

001-40034

82-4369909

(State or other jurisdiction

(Commission File Number)

(IRS Employer Identification No.)

of incorporation)

2223 Avenida de la Playa, Suite 208

La Jolla, CA 92037

(Address of principal executive offices and zip code)

(619) 400-1170

(Registrant’s telephone number, including area code)

(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:


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, par value $0.0001 per share	GRI	The Nasdaq Capital Market

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

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. ☐

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

On June 16, 2024, the board of directors of GRI Bio, Inc. (the “Company”) approved an amendment (the “Amendment”) to the Employment Agreement, dated July 1, 2023 (the “Employment Agreement”), between the Company and Albert Agro, Ph.D., its Chief Medical Officer. The Amendment became effective on June 17, 2024.

The Amendment provides that Dr. Agro is required to work at least 70 hours per month for the Company, and may devote the balance of his time to other consulting or employment activities. In addition, Dr. Agro’s current annual base salary of $325,000 has been reduced to $100,000 and he is no longer eligible for an annual cash performance bonus under his Employment Agreement. Pursuant to the Amendment, Dr. Agro’s Employment Agreement no longer provides for severance payments upon Dr. Agro’s termination without cause or resignation for good reason. Instead, his employment may be terminated by either the Company or Dr. Agro upon 30 days’ prior written notice to the other party, upon which termination, the Company will pay to Dr. Agro any portion of Dr. Agro’s annual base salary earned through the effective date of the termination and any business expenses then-unreimbursed.

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

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits


Exhibit No.						Description
10.1#						Amendment No. 1 to Employment Agreement, dated June 17, 2024, between the Company and Albert Agro, Ph.D.
104						Cover Page Interactive Data File (embedded within the Inline XBRL document).

# Indicates a management contract or any compensatory plan, contract or arrangement

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.


Date: June 18, 2024						GRI Bio, Inc.
						By: /s/ Leanne Kelly
						Leanne Kelly
						Chief Financial Officer

Exhibit 10.1

AMENDMENT NO. 1 TO EMPLOYMENT AGREEMENT

This Amendment No. 1 (“Amendment No. 1”) is entered into between Albert Agro, Ph.D (“Executive”) and GRI Bio, Inc. (the “Company”) to amend Executive’s Employment Agreement with the Company (the “Employment Agreement’). This Amendment No. 1 is effective as of June 17, 2024 (the “Effective Date”).

WHEREAS, the Company has employed Executive pursuant to the Employment Agreement; and

WHEREAS, the Company and Executive have agreed that it is mutually beneficial to the Company and Executive to amend and modify certain components in the Employment Agreement as provided herein.

NOW, THEREFORE, in consideration of the foregoing and the covenants in this Amendment No. 1, the parties agree to amend the Employment Agreement as follows:

1.Section 2(b) is amended to require Executive to work at least seventy (70) hours per month and Executive may devote the balance of Executive’s time to other consulting or employment activities, as provided in Section 2(b).

2.Section 2(c) is amended to delete the reference to New York and replace it with a reference to Arizona.

3.Section 3(a) is deleted in its entirety and is replaced by the following: The Company shall pay Executive an annualized base salary (“Annual Base Salary”) of $100,000, payable in regular installments in accordance with the Company’s normal payroll practices and subject to usual payroll deductions.

4.Sections 3(b) and 3(d) are deleted.

5.Section 3(e) is amended to delete the last sentence referring to the reimbursement of long-term disability insurance.

6.Section 4 is deleted in its entirety and is replaced by the following: Either Executive or the Company may terminate Executive’s employment at any time and for any reason, provided at least thirty (30) days prior written notice is given to the non-noticing party (except in the event of Executive’s death).

7.Section 5 is deleted in its entirety and is replaced by the following: Upon the termination of Executive’s employment for any reason, the Company shall pay or cause to be paid to Executive the portion of Executive’s Annual Base Salary earned through the effective date of termination as well as any unreimbursed business expenses and the Company will ensure such payments to be promptly paid within the time provided by law.

8.Sections 6 and 7 are deleted.

9.Section 16 is amended to replace references to New York with references to Arizona.

10.This Amendment No. 1 is made and effective pursuant to Section 17 of the Employment. All other provisions of the Agreement shall remain in full force and effect.

11.This Amendment is effective as of the date written above.

Albert Agro, Ph.D GRI Bio, Inc.

/s/ Albert Agro, Ph.D By: /s/ W. Marc Hertz

Name: W. Marc Hertz

Title: President & CEO

Cover	Jun. 17, 2024
Cover [Abstract]
Document Type	8-K
Document Period End Date	Jun. 17, 2024
Entity Registrant Name	GRI BIO, INC.
Entity Incorporation, State or Country Code	DE
Entity File Number	001-40034
Entity Tax Identification Number	82-4369909
Entity Address, Address Line One	2223 Avenida de la Playa
Entity Address, Address Line Two	Suite 208
Entity Address, City or Town	La Jolla
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92037
City Area Code	619
Local Phone Number	400-1170
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common Stock, par value $0.0001 per share
Trading Symbol	GRI
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Central Index Key	0001824293
Amendment Flag	false