Graybug Vision Reports Board of Directors Change and Appointment of New Director

Graybug Vision, traded on the NASDAQ under the symbol GRAY, recently disclosed a significant change within its board of directors through an 8-K filing with the Securities and Exchange Commission.

As outlined in the filing dated January 10, 2025, Eric Bjerkholt tendered his resignation as a member of the board of directors at Graybug Vision, with the resignation becoming effective as of January 15, 2025. Mr. Bjerkholt also stepped down from his position as the Chair and a member of the audit committee of the Board. It was clarified in the filing that his decision to resign was not due to any disagreements with the company on operational matters, policies, practices, or any other related issues.

Following this departure, the board of directors at Graybug Vision moved swiftly to fill the vacant position. On January 13, 2025, the company’s Board announced the appointment of Alan Glicklich, M.D., as a Class I director of Graybug Vision. Dr. Glicklich’s term of office is set to expire at the 2027 annual meeting of stockholders. The filing further disclosed that there were no prior arrangements or understandings between Dr. Glicklich and any other parties in his selection as a director. Additionally, there were no transactions where Dr. Glicklich held an interest that would necessitate disclosure under Item 404(a) of Regulation S-K.

Graybug Vision’s compensation policy for non-employee directors, as mentioned in the filing, specifies that Dr. Glicklich will receive an annual cash retainer of $40,000 for his role as a member of the Board, prorated based on his tenure. Furthermore, Dr. Glicklich will be granted an option to purchase 20,000 shares of Graybug Vision’s common stock, effective from the appointment date. This option will vest monthly over a three-year period, subject to Dr. Glicklich’s continuous service. The director is also expected to enter into the company’s standard form of Indemnity Agreement for directors.

The filing was signed off by A. Rachel Leheny, Ph.D., the Chief Executive Officer of Graybug Vision, on January 14, 2025.

For more information on this board transition at Graybug Vision, investors and stakeholders are encouraged to refer to the official 8-K filing with the Securities and Exchange Commission.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Graybug Vision’s 8K filing here.

Graybug Vision Company Profile

Graybug Vision, Inc, a clinical-stage biopharmaceutical company, focuses on the development of medicines for the treatment of diseases of the retina and optic nerve. The company's lead product candidate is GB-102, an intravitreal injection of a microparticle depot formulation of sunitinib that is in Phase I/IIa and IIb clinical trials for the treatment of wet age-related macular degeneration, as well as in Phase IIa clinical trial to treat diabetic macular edema.