SECURITIES AND EXCHANGE COMMISSION
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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 May 27, 2022, Thomas Reilly, Chief Financial Officer of Cara Therapeutics, Inc. (the “Company”), gave notice of his resignation, effective on or about June 15, 2022, to pursue a new opportunity. The Company has commenced a search for Mr. Reilly’s replacement. Mr. Reilly’s departure is not due to a dispute or disagreement with the Company.
Effective immediately following Mr. Reilly’s departure, Richard Makara, the Company’s Vice President, Head of Accounting & Controller, will assume Mr. Reilly’s responsibilities on an interim basis. As of that date, Mr. Makara will assume the position of the Company’s principal financial officer and principal accounting officer until such time as his successor is appointed, or until his earlier resignation or removal.
Mr. Makara, 52, has served the Company in various capacities since October 2014, most recently serving as VP, Head of Accounting & Controller from November 2018 to present. Mr. Makara previously served as the Company’s principal financial officer and principal accounting officer on an interim basis from December 2019 to October 2020. Prior to joining the Company, he served as Director of Accounting at Purdue Pharma from June 2010 to October 2014. Before joining Purdue, he served as an auditor for PricewaterhouseCoopers from 1992 to 2009. Mr. Makara received his B.S. in Accounting from Purdue University. Mr. Makara is a certified public accountant.
There is no family relationship between Mr. Makara and any director or executive officer of the Company and he has no direct or indirect material interest required to be disclosed pursuant to Item 404(a) of Regulation S-K.
In recognition of Mr. Makara’s service to the Company, on the date that Mr. Makara assumes Mr. Reilly’s responsibilities on an interim basis, the Company will grant restricted stock units for 7,500 shares of the Company’s common stock (the “RSU Grant”) to Mr. Makara. The RSU Grant will vest at the earlier of (i) December 31, 2022 or (ii) the appointment of the Company’s new Chief Financial Officer, subject to Mr. Makara’s continuous employment with the Company as of such vesting date.
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.
|CARA THERAPEUTICS, INC.|
|By:||/s/ CHRISTOPHER POSNER|
|President and Chief Executive Officer|
Date: June 3, 2022