UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 Or 15(d) of the
Securities Exchange Act of 1934
Date of
Report (Date of earliest event reported): November 16,
2017
GT Biopharma, Inc.
(Exact
name of Registrant as specified in its charter)
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Delaware
(State
or other Jurisdiction of Incorporation or
organization)
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000-08092
(Commission
File Number)
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94-1620407
(IRS
Employer I.D. No.)
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1825 K Street
Suite 510
Washington, D.C. 20006
Phone: (800) 304-9888
(Address,
including zip code, and telephone number, including area code,
of
registrant’s
principal executive offices)
N/A
(Former
name, former address and former fiscal year, if changed since last
report)
Check
the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant
under any of the following provisions (see General Instruction A.2.
below):
☐
Written
communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
☐
Soliciting material
pursuant to Rule l 4a- l 2 under the Exchange Act ( 17 CFR 240. l
4a- l 2)
☐
Pre-commencement
communications pursuant to Rule l 4d-2(b) under the Exchange Act
(17 CFR 240. l 4d-2(b))
☐
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR 240. l 3e-4(c))
ITEM 5.02 Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.
On November 16, 2017, Shawn Cross was appointed the President and
Chief Operating Officer of the GT Biopharma, Inc. (hereinafter the
“Company”) by the Board of Directors. The
Company has entered into an Employment agreement with Mr.
Cross. Mr. Cross’s contract is for three years and
under the terms of his contract, he will receive restricted stock
awards of 150,000 common shares on January 1, 2018, 1,000,000
common shares on January 1, 2019 and 1,850,000 common shares on
January 1, 2020 and will be paid an annual salary of $500,000. He
is also entitled to participate in any performance business plan
established by the Company.
The foregoing is a summary of the material terms of the Agreement
and does not purport to be complete. A copy of the Agreement
is attached as Exhibit 10.1 to this Current Report on
Form 8-K. Also, a copy of the press release announcing the
appointment of Mr. Cross is attached as Exhibit 99.1 to this
Current Report on Form 8-K.
Mr. Cross was a
Managing Director, and senior
calling officer focused on the biopharmaceutical industry, in
Healthcare Investment Banking at Deutsche Bank
Securities Inc. (NYSE:DB) from November 2015 to October 2017. He
was a Managing Director in
the Wells Fargo Securities,
LLC. (NYSE:WF) Healthcare Group from December 2010 to November
2015. Mr. Cross began his 20-year investment banking career at
Alex. Brown & Sons Inc. and has lived and worked in
the major financial centers of London, New York City and San
Francisco. He received his
bachelor of science degree from the University of California, Los
Angeles and his Master’s in Business Administration from
Columbia Business School with honors and a concentration in
Finance.
ITEM 9.01 Exhibits.
10.1
Agreement, effective as of November 16, 2017 between the Company
and Mr. Cross
99.1
Press Release, dated November 16, 2017
SIGNATURE PAGE
Pursuant
to the requirement of the Securities and Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
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GT Biopharma, Inc.
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Dated:
November 16, 2017
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By:
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/s/
Steven Weldon
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Steven
Weldon
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Chief
Financial Officer
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