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Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On August 16, 2022, the Board of Titan Pharmaceuticals, Inc. (the “Company”) appointed David E. Lazar as the Principal Executive Officer and Principal Financial Officer of the Company. Mr. Lazar was previously appointed to serve as the Company’s Interim Chairman of the Board and Chief Executive Officer on August 15, 2022.
Mr. Lazar, age 32, has served as the Chief Executive Officer of Custodian Ventures LLC, a company which specializes in assisting distressed public companies through custodianship, since February 2018, and Activist Investing LLC, an actively managed investment fund, since March 2018. Previously, Mr. Lazar served as Managing Partner at Zenith Partners International Inc., a boutique consulting firm, from July 2012 to April 2018. Mr. Lazar replaces Dr. Marc Rubin as the Company’s Principal Executive Officer.
There are no arrangements or understandings between Mr. Lazar and any other persons pursuant to which he was selected as Principal Executive Officer or Principal Financial Officer. There are no family relationships between Mr. Lazar and any director or executive officer of the Company, and he has no indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.
Item 9.01. Financial Statements and Exhibits.
| (d) | Exhibits |
| Exhibit No. | Description | |
| 104 | Cover Page Interactive Data (embedded within the Inline XBRL document). |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| TITAN PHARMACEUTICALS, INC. | ||
| By: | /s/ David E. Lazar | |
|
David E. Lazar Chief Executive Officer | ||
Date: August 22, 2022
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