Company: SCLXW
Filing Date: 2025-05-12
Form Type: 8-K
Source: 0000950170-25-068621
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Company: Scilex Holding Co
Filing Date: 2025-05-12
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.

As previously announced by Scilex Holding Company (the “ Company”), on April 15, 2025, the Company effected a reverse stock split of its common stock, par value $0.0001 per share (the “ Common Stock”) at a ratio of 1-for-35 (the “ Reverse Stock Split”). In connection with the Reverse Stock Split, the Compensation Committee (the “ Compensation Committee”) of the Board of Directors of the Company (the “ Board”) considered the impact of the Reverse Stock Split on the equity compensation component of the Company’s Non-Employee Director Compensation Policy governing the cash and equity compensation payable to the non-employee members of the Board, which provided for an initial stock option grant of 250,000 shares of Common Stock and an annual stock option grant for 100,000 shares of Common Stock.

On May 9, 2025, the Compensation Committee approved an Amended and Restated Non-Employee Director Compensation Policy (the “ Amended and Restated Non-Employee Director Compensation Policy”) to reflect the effect of the Reverse Stock Split on the non-employee director equity grants, pursuant to which, (i) each newly appointed or elected non-employee director will receive an initial option grant to purchase 7,142 shares of Common Stock and (ii) each continuing non-employee director will be eligible to receive an annual stock option grant to purchase 2,857 shares of Common Stock. All other aspects of the cash and equity compensation payable to the non-employee directors remain unchanged, and all share numbers shall be subject to adjustment for any stock splits, dividends, combinations, recapitalizations and the like occurring after the Reverse Stock Split. The Amended and Restated Non-Employee Director Compensation Policy is with retroactive effect to April 15, 2025.

The foregoing description of the Amended and Restated Non-Employee Director Compensation Policy does not purport to be complete and is qualified in its entirety by reference to the full text of the Amended and Restated Non-Employee Director Compensation Policy, a copy of which is filed herewith as Exhibit 10.1 and is incorporated herein by reference.