UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM
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CURRENT REPORT
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Item 5.02Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On June 28, 2023, the compensation committee (the “Committee”) of the board of directors (the “Board”) of Agile Therapeutics, Inc. (the “Company”), following prior recommendation and approval by the Board in January 2023, approved merit-based increases and annual grants in the ordinary course to each of Alfred Altomari, the Company’s Chief Executive Officer, Robert Conway, the Company’s Chief Corporate Planning and Supply Chain Officer, Geoffrey Gilmore, the Company’s Chief Administrative Officer, Paul Korner, the Company’s Chief Medical Officer, and Amy Welsh the Company’s Chief Commercial Officer.
Each of Mr. Altomari and Mr. Gilmore offered to the Committee, and the Committee accepted, to accept their merit-based compensation increase in the form of restricted stock units (“RSUs”) in lieu of cash. Such RSUs were issued under the Company’s 2023 Equity Incentive Plan, with a grant date of June 28, 2023 to each of Mr. Altomari and Mr. Gilmore, for a number of shares equal to 8,963 and 6,716, respectively, representing the value of such merit-based compensation increases divided by $2.48, the closing price of the Company’s common stock on June 28, 2023, rounded to the nearest whole share. Such grants shall vest in full on June 28, 2024.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Agile Therapeutics, Inc. | |
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Dated: June 30, 2023 | By: | /s/ Alfred Altomari |
| Name: | Alfred Altomari |
| Title: | Chairperson and Chief Executive Officer |