Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On September 15, 2017, the board of directors of Adamas Pharmaceuticals, Inc. appointed Christopher B. Prentiss as Adamas’s Chief Accounting Officer and, in that capacity, Mr. Prentiss will serve as Adamas’s principal accounting officer. As a result of this appointment, Alfred G. Merriweather, Adamas’s Chief Financial Officer, has ceased to be Adamas’s principal accounting officer. Mr. Prentiss will continue to report to Mr. Merriweather.
Mr. Prentiss, age 42, has served as Adamas’s Vice President, Finance and Controller since April 2015. Prior to joining Adamas, Mr. Prentiss was the Vice President, Finance and Controller at InterMune, Inc., a biotechnology company, from June 2013 to March 2015, where he was responsible for the management of the accounting function. Prior to that, Mr. Prentiss was Senior Director, Controller at Dynavax Technologies Corporation, a clinical-stage biopharmaceutical company, from May 2012 to June 2013, where he was responsible for the accounting and tax functions. From June 2005 to May 2012, Mr. Prentiss was at MannKind Corporation where he served in a variety of finance roles, most recently as Senior Director, Controller. Prior to joining MannKind, Mr. Prentiss was a Senior Manager at KPMG LLP in the assurance practice. Mr. Prentiss received a Bachelor’s of Science degree in Accounting from Loyola Marymount University, and a Masters of Business Administration from Indiana University. Mr. Prentiss is a CPA licensed in California.
In connection with Mr. Prentiss’s appointment as Chief Accounting Officer, Mr. Prentiss’s annual base salary was increased to $275,000, and his target bonus was set at 30% of his base salary. In addition, Mr. Prentiss will be granted a stock option to purchase 15,000 shares of Adamas common stock, and a restricted stock unit to acquire 2,500 shares of Adamas common stock, on Adamas’s normal grant schedule.