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): February 18, 2014
REVANCE THERAPEUTICS, INC.
(Exact name of registrant as specified in its charter)
| DELAWARE | 001-36297 | 75-0551645 | ||
| (State of incorporation) | (Commission File No.) | (IRS Employer Identification No.) |
Revance Therapeutics, Inc.
7555 Gateway Boulevard
Newark, California 94560
(Address of principal executive offices and zip code)
Registrant’s telephone number, including area code: (510) 742-3400
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 (see General Instruction A.2. below):
| ¨ | 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)) |
ITEM 5.02 DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS.
| (e) | Compensatory Arrangements of Certain Officers |
At the Compensation Committee meeting of Revance Therapeutics, Inc. (the “Company”) held on February 18, 2014, the Compensation Committee unanimously agreed to increase the current annual base salaries of certain named executive officers as follows:
| Name | Position | New Salary | Effective Date | |||||||
| L. Daniel Browne |
President and Chief Executive Officer |
$ | 452,352 | January 1, 2014 | ||||||
| Jacob Waugh |
Chief Scientific Officer and Medical Director |
$ | 358,435 | January 1, 2014 | ||||||
| Lauren Silvernail |
Executive Vice President, Corporate Development and Chief Financial Officer |
$ | 323,440 | January 1, 2014 | ||||||
In making its determinations, the Compensation Committee considered the Company’s performance during fiscal year 2013, the initial public offering of the Company and the anticipated increase in the executives’ respective duties as a result of becoming a public company, and the compensation study prepared by Pearl Meyer & Partners, LLC that provided the market compensation level of the Company’s peer group.
At the same committee meeting, the Compensation Committee unanimously approved a housing allowance to Lauren Silvernail, Executive Vice President, Corporate Development, and Chief Financial Officer of the Company, for an amount equal to $4,500 per month for fiscal year 2014, to be effective January 1, 2014.
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: February 24, 2014 | Revance Therapeutics, Inc. | |||
| By: | /s/ Lauren P. Silvernail | |||
| Lauren P. Silvernail | ||||
| Executive Vice President, Corporate Development and | ||||
| Chief Financial Officer | ||||