DERMATA THERAPEUTICS, INC.

(DRMA)
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Delayed Nasdaq  -  05/27 04:00:00 pm EDT
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DERMATA THERAPEUTICS, INC. : Change in Directors or Principal Officers, Regulation FD Disclosure, Financial Statements and Exhibits (form 8-K)

01/13/2022 | 08:32am EDT

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.



Appointment of Directors


On January 12, 2022, upon the recommendation of the Nominating and Corporate Governance Committee of the Board of Directors (the "Board") of Dermata Therapeutics, Inc. (the "Company"), the Board increased its size from seven to eight directors and appointed Brittany Bradrick as a Class II director to fill the newly created vacancy. Ms. Bradrick was also appointed to serve as a member of the Audit Committee of the Board effective as of January 12, 2022. In connection with Ms. Bradrick's appointment, Steven J. Mento, Ph.D., stepped down as a member of the Audit Committee, effective as of January 12, 2022. Dr. Mento will continue to serve as a director of the Company and participate on the Nominating and Corporate Governance Committee.

Ms. Bradrick has served as the Chief Financial Officer of Neurelis, Inc. since October 2021. Prior to joining Neurelis, Ms. Bradrick was Chief Operating Officer and Chief Financial Officer at ViaCyte from June 2020 to September 2021. She previously served in strategy and corporate development positions for 10 years at Insulet Corporation as Vice President, Strategy & Corporate Development from 2016 to 2021 and at Abbott Diabetes Care from 2010 to 2016 as Director, Business Development and Alliance Management. Prior to these positions, Ms. Bradrick was an investment banker for the life science industry at Piper Jaffray, Credit Suisse, and Chase Securities for 10 years. Ms. Bradrick began her career as a Federal Reserve Bank Examiner. Ms. Bradrick holds an M.B.A. from the Johnson Graduate School of Management at Cornell University and a B.S. in Business Administration from the University of Missouri.

Ms. Bradrick will serve as a director on the Board until the 2023 annual meeting of the Company's stockholders or until her successor is elected and qualified, subject to her earlier resignation or removal. In connection with her appointment, Ms. Bradrick was granted an option to purchase 10,000 shares of the Company's common stock with an exercise price of $1.50 per share, with the option vesting in twelve equal monthly installments commencing on the date of grant, subject to Ms. Bradrick's continued service to the Company. The option grant is subject to the terms and conditions of the Company's 2021 Omnibus Equity Incentive Plan, and the related stock option agreement. Ms. Bradrick will also be compensated pursuant to the Company's standard practice for fees to non-employee directors.

There are no family relationships between Ms. Bradrick and any other executive officers or directors of the Company. There is no arrangement or understanding between Ms. Bradrick and any other persons pursuant to which Ms. Bradrick was selected as director. In addition, Ms. Bradrick is not a party to any transaction, or series of transactions, required to be disclosed pursuant to Item 404(a) of Regulation S-K.

The Company will enter into an indemnification agreement with Ms. Bradrick on the Company's standard form of indemnification agreement, the form of which was filed as Exhibit 10.1 to the Company's Registration Statement on Form S-1 filed with the Securities and Exchange Commission on August 6, 2021.


Item 7.01. Regulation FD.


On January 13, 2022 the Company issued a press release announcing Ms. Bradrick's appointment to the Board. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

The information in this Current Report on Form 8-K under Item 7.01, including the information contained in Exhibit 99.1, is being furnished to the Securities and Exchange Commission, and shall not be deemed to be "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, and shall not be deemed to be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by a specific reference in such filing.

Item 9.01 Financial Statements and Exhibits.




(d) Exhibits.



Exhibit No.   Exhibit
  99.1          Press release, dated January 13, 2022, issued by Dermata
              Therapeutics, Inc.
104           Cover Page Interactive Data File (embedded within the Inline XBRL
              document).





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Financials (USD)
Sales 2022 - - -
Net income 2022 -11,8 M - -
Net Debt 2022 - - -
P/E ratio 2022 -0,65x
Yield 2022 -
Capitalization 7,25 M 7,25 M -
Capi. / Sales 2022 -
Capi. / Sales 2023 -
Nbr of Employees 8
Free-Float 47,3%
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Managers and Directors
Gerald T. Proehl Chairman, President & Chief Executive Officer
Kyri van Hoose Chief Financial Officer & Senior Vice President
David F. Hale Lead Independent Director
Wendell D. Wierenga Independent Director
Kathleen D. Scott Independent Director
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