Item 2.02 Results of Operations and Financial Condition.

On January 9, 2023, Emergent BioSolutions Inc. (the "Company") announced preliminary unaudited financial results for 2022. The full text of the press release issued in connection with the announcement is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

Item 2.05. Costs Associated with Exit or Disposal Activities.

On January 9, 2023, the Company also announced an organizational restructuring plan (the "Plan") intended to reduce operating costs, improve operating margins, and continue advancing the Company's ongoing commitment to profitable growth. The Plan includes a reduction of the Company's current workforce by approximately 5 percent. Decisions regarding the elimination of positions are subject to local law and consultation requirements in certain countries, as well as the Company's business needs.

The Company estimates that it will incur approximately $9.0M to $11.0M in charges in connection with the Plan, which it expects to incur in the first quarter of fiscal 2023. These charges consist primarily of charges related to employee transition, severance payments, employee benefits, and share-based compensation.

The estimates of the charges and expenditures that the Company expects to incur in connection with the Plan, and the timing thereof, are subject to a number of assumptions, including local law requirements in various jurisdictions, and actual amounts may differ materially from estimates. In addition, the Company may incur other charges or cash expenditures not currently contemplated due to unanticipated events that may occur, including in connection with the implementation of the Plan.

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

On January 9, 2023, the Company announced that it will eliminate the positions of Executive Vice President and Chief People Officer, and Executive Vice President and Chief Strategy and Development Officer. Katy Strei, the Company's Chief People Officer, and Atul Saran, the Company's Chief Strategy and Development Officer, will cease employment with the Company on or about March 17, 2023. The Company also announced the appointment of Paul Williams as the Company's Senior Vice President Products Business, reporting to the Company's CEO, Robert Kramer.

Item 7.01. Regulation FD Disclosure.

The disclosure contained in Item 2.02 of this Current Report on Form 8-K and the press release attached hereto as Exhibit 99.1 are incorporated herein by reference.

The information contained in this Item 7.01 shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

Item 9.01 Financial Statements and Exhibits.



(d) Exhibits.

Exhibit No.           Description
99.1                    Press release issued by the Company on January 09, 2023.
104                   Cover Page Interactive Data File (embedded within the Inline XBRL document).


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