UNITED STATES
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FORM
CURRENT REPORT
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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 June 4, 2024, Galera Therapeutics, Inc. (the “Company”) notified Robert A. Beardsley, Ph.D., the Company’s Chief Operating Officer, that his position is being eliminated in order to save costs as the Company continues to undertake a comprehensive review of strategic alternatives for both the Company and its portfolio of dismutase mimetics. In connection with Dr. Beardsley’s separation from the Company, the Company expects to enter into a separation agreement with Dr. Beardsley pursuant to which Dr. Beardsley is expected to be eligible to receive the severance payments and benefits under his employment agreement with the Company, in exchange for executing a general release of claims in favor of the Company. In addition, the Company expects to engage Dr. Beardsley for consulting services on an hourly basis at a rate of on or around US$400 per hour.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This Current Report on Form 8-K (“Form 8-K”) contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this Form 8-K that do not relate to matters of historical fact should be considered forward-looking statements, including, but not limited to, statements regarding management transitions and compensation arrangements. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of risks, uncertainties and other important factors, including those factors discussed under the caption “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 filed with the SEC, could cause actual results to differ materially from those indicated by the forward-looking statements made in this Form 8-K. Any forward-looking statements speak only as of the date of this Form 8-K and are based on information available to the Company as of the date of this Form 8-K, and the Company assumes no obligation to, and does not intend to, update any forward-looking statements, whether as a result of new information, future events or otherwise.
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.
| GALERA THERAPEUTICS, INC. | ||||||
| Date: June 7, 2024 | By: | /s/ J. Mel Sorensen, M.D. | ||||
| J. Mel Sorensen, M.D. | ||||||
| President and Chief Executive Officer | ||||||