Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers
Effective January 19, 2022, the Board of Directors of Femasys Inc. (the
"Company") accepted William Witte's resignation from the Board of Directors. Mr.
Witte's resignation did not result from any disagreement with the Company. In
connection with Mr. Witte's resignation, the Board of Directors elected Wendy
Perrow as a director of the Company. There are no arrangements or
understandings between Ms. Perrow and any other persons pursuant to which Ms.
Perrow was elected as a director of the Company. Ms. Perrow will be entitled to
the applicable annual retainer and equity awards pursuant to the Company's
director compensation policy, under terms consistent with those previously
disclosed by the Company. Ms. Perrow will also be entitled to enter into an
indemnification agreement with the Company. Ms. Perrow will hold office as a
Class II director for a term expiring at the annual meeting following the year
ending December 31, 2022 and will serve on the Compensation Committee of the
Company. In addition, effective January 19, 2022, Anne Morrisey, a current
member of the Board of Directors, was appointed by the Board of Directors to
serve on the Nominating and Governance Committee.
Ms. Perrow serves as a Senior Advisor at Princeton Capital Advisors, a
global independent advisory firm, and she is a member of the board of advisors
for the Maryland Momentum Fund. Previously, she served as Chief Executive
Officer and Board Member of AsclepiX Therapeutics, Inc. from 2016 to 2020. She
was the Vice President of Marketing and then Chief Executive Officer of Alba
Therapeutics, Inc. from 2008-2016. Previously, she served as Vice President,
Marketing & Sales for Sigma-Tau Pharmaceuticals focusing on rare and orphan
disease products. She also held positions with Merck & Co. in U.S. and global
marketing where she led U.S. and global launches/initiatives for Zocor®,
Varivax®, Cozaar®, and Hyzaar®. Ms. Perrow began her career in a division of
the Johnson & Johnson Company. Ms. Perrow also serves as member of the Maryland
Life Sciences Advisory Board, the Maryland TEDCO review board of the Maryland
Innovation Initiative, and Women in Bio. Ms. Perrow is a graduate of Duke
University, The Fuqua School of Business with an MBA and Eastern Illinois
University with a BS in Education. The Board of Directors believes that Ms.
Perrow is qualified to serve on the Board of Directors due to her extensive
experience as a biotechnology entrepreneur and leader for innovative biotech and
pharmaceutical ventures, as well as her leadership experience in expediting
growth, profitability, and fundraising.
Item 8.01. Other Events
On January 20, 2022, the Company issued a press release announcing the
appointment of Ms. Perrow as a member of the Company's Board of Directors. A
copy of the press release is being filed as Exhibit 99.1 to this Current Report
on Form 8-K and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit
No. Description
99.1 Press Release of Femasys Inc. dated January 20, 2022
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