Company: DMAC
Filing Date: 2025-03-06
Form Type: 8-K
Source: 0001437749-25-006379
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Company: DiaMedica Therapeutics Inc.
Filing Date: 2025-03-06
Form: 8-K
Item: Item 5.02
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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 February 28, 2025, Richard Pilnik, who has been a member of the Board of Directors (the “ Board”) of DiaMedica Therapeutics Inc. (the “ Company”), for over 15 years, informed the Company of his decision to retire and not to stand for re-election at the Company’s 2025 Annual General Meeting of Shareholders (the “ AGM”). Mr. Pilnik’s term as a director will expire upon conclusion of the AGM. Mr. Pilnik’s decision not to stand for re-election is not due to any disagreement with the Company on any matter relating to the Company’s operations, policies or practices.

Mr. Pilnik currently serves as Chair of the Nominating and Corporate Governance Committee, a member of the Audit Committee, and prior to January 1, 2025, served as Chairman of the Board. As part of the Board’s succession planning efforts, the Board recently transitioned the Chairman of the Board role from Mr. Pilnik, who served in the position for over a decade, to James Parsons, who joined the Board in 2015 and also serves as Chair of the Audit Committee. In addition, as previously announced and as part of its continued succession planning efforts, the Board recently appointed Daniel J. O’ Connor as a new director. The Board intends to re-evaluate the composition of its Board committees, including the chair roles, to ensure a seamless transition upon Mr. Pilnik’s departure after the AGM, which is scheduled to occur on May 15, 2025, and to continue to facilitate Board rotation on its committees.

“ We are grateful for Mr. Pilnik’s commitment and service to the Company, the Board and the Board’s committees,” stated Rick Pauls, the Company’s President and Chief Executive Officer. “ We want to especially recognize Mr. Pilnik’s contributions and support during an important period in the Company’s transition to a late-stage biopharmaceutical company.”

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