UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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 March 24, 2021, the Board of Directors (the “Board”) of Eloxx Pharmaceuticals, Inc. (the “Company”) accepted the resignation of Mr. Stephen MacDonald as Vice President, Finance and Accounting, and Treasurer, effective March 26, 2021.
Gary D. Rakers, 37, who joined with the Company in January 2020 and previously served as as Corporate Controller and Assistant Treasurer, was promoted to Executive Director, Finance and Accounting and Corporate Controller. The Board appointed Mr. Rakers principal financial and accounting officer and Treasurer effective March 26, 2021. Mr. Rakers receives a base annual salary of $250,000, a target bonus of 28% and was granted 16,000 options to purchase common stock of the Company at an exercise price equal to the fair market value of the Company’s common stock on the date of his promotion. Prior to joining the Company, Mr. Rakers spent 6 years with Tesaro, Inc., prior to its acquisition by GSK, where he held positions of increasing responsibility, culminating in the role of Associate Director of Technical Accounting and Operations. Previously, Mr. Rakers spent 8 years in the audit and assurance practice of Deloitte & Touche LLP, with a focus on the healthcare and life sciences sector. Mr. Rakers will report to the Chief Executive Officer or his designee.
SIGNATURE
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.
| ELOXX PHARMACEUTICALS, INC. | ||
| By: |
/s/ Neil S. Belloff | |
| Name: | Neil S. Belloff | |
| Title: |
Chief Operating Officer and General Counsel | |
Date: March 26, 2021