Company: VRCA
Filing Date: 2025-04-22
Form Type: DEF 14A
Source: 0001193125-25-087838
Chunk: 53

Company: Verrica Pharmaceuticals Inc.
Filing Date: 2025-04-22
Form: DEF 14A
Chunk 53
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 with Dr. Goldenberg effective as of March 3, 2025, which contains (i) a release of claims against us and (ii) the following separation benefits: (a) payment of his then current base salary in accordance with normal payroll procedures for six months and (b) if elected, payment of continued health coverage for Dr. Goldenberg and his dependents under COBRA for up to 12 months. We also entered into a Consulting Agreement with Dr. Goldenberg, pursuant to which Dr. Goldenberg will provide consulting services to us from time to time. Notwithstanding such service under the Consulting Agreement, the equity awards he held ceased to vest as of March 3, 2025. 40

Mr. White

In connection with his resignation from employment as our President and Chief Executive Officer, on November 4, 2024, we entered into a Release Agreement with Mr. White effective as of November 5, 2024, which contains (i) a release of claims against us and (ii) the following separation benefits: (a) payment of his current base salary in accordance with normal payroll procedures for 12 months and (b) if elected, payment of continued health coverage for Mr. White and his dependents under COBRA for up to 12 months.

Mr. Bonaccorso

In connection with his resignation from employment as our Chief Commercial Officer, on August 30, 2024, we entered into a Release Agreement with Mr. Bonaccorso, which contains (i) a release of claims against us and (ii) the following separation benefits: (a) payment of his then current base salary in accordance with normal payroll procedures for 12 months and (b) if elected, payment of continued health coverage for Mr. Bonaccorso and his dependents under COBRA for up to 12 months. We also entered into a Consulting Agreement with Mr. Bonaccorso. The Consulting Agreement was terminated effective October 21, 2024.

Retirement Benefits and Other Compensation

Our named executive officers did not participate in, or otherwise receive any benefits under, any pension, retirement or deferred compensation plan sponsored by us during 2024 other than our 401(k) plan described below. Our named executive officers were eligible to participate in our employee benefits, including health insurance and group life insurance benefits, on the same basis as our other employees. We maintain a 401(k) plan intended to qualify as a tax-qualified plan under Section