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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 October 25, 2023, the Board of Directors (the “Board”) of NeuroBo Pharmaceuticals, Inc. (the “Company”) appointed Mr. Marshall H. Woodworth as the Company’s Acting Chief Financial Officer, Principal Financial Officer and Principal Accounting Officer, effective as of October 27, 2023.
From May 2017 through May 2023, Mr. Woodworth served as the Chief Financial Officer of Nevakar Inc. and its respective subsidiaries (Nevakar Injectables Inc. and Vyluma Inc.), where Mr. Woodworth was responsible for the accounting, financing, legal and human resources functions. From October 2015 through October 2016, Mr. Woodworth served as the Chief Financial Officer of Braeburn Pharmaceuticals Inc., where Mr. Woodworth led and coordinated the accounting, finance and treasury functions. From May 2014 to July 2015, Mr. Woodworth served as the Chief Financial Officer of Aerocrine AB, where Mr. Woodworth had responsibility for directing and coordinating the accounting and finance, FRS (Swedish SEC) reporting, investor relations, human resources and legal aspects of the company. From January 2010 through February 2014, Mr. Woodworth served as Chief Financial Officer of Furiex Pharmaceuticals, Inc. (Nasdaq: FURX), where Mr. Woodworth led a multi-disciplinary team and managed accounting, finance, SEC reporting, financial planning, analysis and reporting, and treasury functions. Mr. Woodworth received a Bachelor of Science degree from University of Maryland and a Master of Business Administration degree in Finance from Indiana University.
Pursuant to an engagement agreement between the Company and WhiteCap Search Holdings, LLC, dated February 3, 2023, Mr. Woodworth will receive his compensation and benefits from WhiteCap Search Holdings, LLC. In connection with the appointment of Mr. Woodworth as the Company’s Acting Chief Financial Officer, Principal Financial Officer and Principal Accounting Officer, the Company expects to pay WhiteCap Search Holdings, LLC approximately $375.00 per hour under the engagement agreement for services rendered to the Company by Mr. Woodworth.
In addition, Mr. Woodworth entered into a Proprietary Information and Invention Assignment Agreement with the Company that applies during the term of Mr. Woodworth’s service as an officer of the Company.
Except as described above, there are no arrangements or understandings between Mr. Woodworth and any other persons pursuant to which Mr. Woodworth was named as the Company’s Acting Chief Financial Officer, Principal Financial Officer, and Principal Accounting Officer. Mr. Woodworth does not have any family relationship with any of the Company’s directors or executive officers or any persons nominated or chosen by the Company to be a director or executive officer. Mr. Woodworth does not have any direct or indirect material interest in any transaction or proposed transaction required to be reported under Item 404(a) of Regulation S-K.
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.
NeuroBo Pharmaceuticals, Inc.
Date: October 30, 2023
/s/ Hyung Heon Kim
Hyung Heon Kim
President and Chief Executive Officer