UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
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 23, 2024 ( |
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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:
Securities registered pursuant to Section 12(b) of the Act:
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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. ☐
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Second Amendment to Retention Bonus Letter of Thomas A. Keuer and C. Jeffrey Dekker
On April 20, 2024, the board of directors of ARCA biopharma, Inc., a Delaware corporation (“ARCA” or the "Company"), approved the second amendment of certain retention bonus letters between ARCA and each of Thomas A. Keuer and C. Jeffrey Dekker to increase the aggregate amount of the retention bonus with respect to each such executive by 33.33%, to $200,000. The remaining portion of the retention bonus with respect to Thomas A. Keuer and C. Jeffrey Dekker, consisting of $165,000, will become payable consistent with the original terms of the applicable retention bonus letter and first amendment to retention bonus letter. Any payment related to the retention bonuses of Thomas A. Keuer and C. Jeffrey Dekker will be paid by ARCA via payroll within 30 business days of the date of occurrence of the applicable “Payment Event Date” (as such term is otherwise defined in the applicable second amendment to the retention bonus letter). Each such retention bonus letter and first amendment to retention bonus letter will otherwise remain subject to their original terms and conditions.
The original retention bonus letters between ARCA and each of Thomas A. Keuer and C. Jeffrey Dekker are incorporated herein by reference to Exhibits 10.1 and 10.2, respectively, of the Company’s Current Report on Form 8-K, filed with the Securities and Exchange Commission (the “SEC”) on December 9, 2022, and the first amendment to retention bonus letters between ARCA and each of Thomas A. Keuer and C. Jeffrey Dekker are incorporated herein by reference to Exhibit 10.1 and 10.2, respectively, of the Company’s Current Report on Form 8-K, filed with the SEC on December 4, 2023.
The foregoing description of the second amendment to the retention bonus letter of Thomas A. Keuer and the second amendment to the retention bonus letter of C. Jeffrey Dekker is not complete and is qualified in its entirety by reference to the full text of each such amendment, copies of which are filed as Exhibits 10.1 and 10.2, respectively to this Current Report on Form 8-K.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
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Exhibit Number |
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Description |
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10.1 |
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10.2 |
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104 |
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Cover Page Interactive Data File. The cover page XBRL tags are embedded within the inline XBRL document (contained in Exhibit 101). |
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.
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ARCA biopharma, Inc. |
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Date: |
April 23, 2024 |
By: |
/s/ C. Jeffrey Dekker |
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Name: C. Jeffrey Dekker |