Trevena : Management Change/Compensation - Form 8-K

Item 5.02

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

On November 9, 2023, Leon O. Moulder, Jr. informed Trevena (the "Company") of his planned retirement from the Board of Directors (the "Board") of the Company, effective as of December 31, 2023. In connection with his retirement, Mr. Moulder also resigned as Chairman of the Board, effective immediately. Mr. Moulder has confirmed to the Company that his departure is not the result of any disagreement with the Company on any matter relating to the Company's operations, policies or practices.

In conjunction with Mr. Moulder's resignation as Chairman of the Board, the Board has appointed and approved Carrie Bourdow, the Company's President and Chief Executive Officer, as the new Chair of the Board, and Scott Braunstein, M.D. as the Lead Independent Director of the Board effective immediately.

"Mr. Moulder has served on the Company's Board and as Chairman since 2013. The Company and the Board would like to thank Mr. Moulder for his many contributions to the Company as it advanced through several important milestones over the last 10 years," said Carrie Bourdow.

Dr. Braunstein has been a key member of the Company's Board since 2019. The Board believes that his experience across roles in the financial sectors at Aisling Capital and J.P. Morgan, as well as his leadership positions as the former Chief Operating Officer at Pacira BioSciences, Inc. and as the current CEO and Chairman of the Board of Marinus Pharmaceuticals Inc. best position Dr. Braunstein to serve as the Lead Independent Director of the Company.

Upon the recommendation of its Nominating and Corporate Governance Committee, the Board also amended the Company's Corporate Governance Guidelines to reflect the changes above. A copy of the Corporate Governance Guidelines, as amended, may be found on the Company's website.