# EDGAR Filing Document

**Accession Number:** 0001347178
**File Stem:** 0001193125-23-042033
**Filing Date:** 2023-2
**Character Count:** 8035
**Document Hash:** ff8c2bf6fdf28165367132d9067a6321
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-23-042033.hdr.sgml**: 20230217

**ACCESSION NUMBER**: 0001193125-23-042033

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 12

**CONFORMED PERIOD OF REPORT**: 20230216

**ITEM INFORMATION**: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers

**FILED AS OF DATE**: 20230217

**DATE AS OF CHANGE**: 20230217

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Vanda Pharmaceuticals Inc.
- **CENTRAL INDEX KEY:** 0001347178
- **STANDARD INDUSTRIAL CLASSIFICATION:** PHARMACEUTICAL PREPARATIONS [2834]
- **IRS NUMBER:** 030491827
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-34186
- **FILM NUMBER:** 23643129

**BUSINESS ADDRESS:**
- **STREET 1:** 2200 PENNSYLVANIA AVE NW
- **STREET 2:** SUITE 300E
- **CITY:** WASHINGTON
- **STATE:** DC
- **ZIP:** 20037
- **BUSINESS PHONE:** 202-734-3400

**MAIL ADDRESS:**
- **STREET 1:** 2200 PENNSYLVANIA AVE NW
- **STREET 2:** SUITE 300E
- **CITY:** WASHINGTON
- **STATE:** DC
- **ZIP:** 20037

?xml version="1.0" encoding="utf-8" ? 8-K

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### UNITED STATES

### SECURITIES AND EXCHANGE COMMISSION

#### Washington, D.C. 20549

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### FORM 8-K

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#### CURRENT REPORT

#### Pursuant to Section 13 or 15(d)

#### of the Securities Exchange Act of 1934

#### Date of Report (Date of earliest event reported): February 17, 2023 (February 16, 2023)

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## VANDA PHARMACEUTICALS INC.

#### (Exact name of Registrant as specified in its charter)

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| | | |
|:---|:---|:---|
| **Delaware** | **001-34186** | **03-0491827** |
| **(State or other jurisdiction**<br> **of incorporation)** | **(Commission**<br> **File No.)** | **(IRS Employer**<br> **Identification No.)** |

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#### 2200 Pennsylvania Avenue NW

#### Suite 300E

#### Washington, DC 20037

#### (Address of principal executive offices and zip code)

#### Registrant's telephone number, including area code: (202) 734-3400

#### Not Applicable

#### (Former Name or Former Address, if Changed Since Last Report)

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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 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| **Title of each class** | **Trading**<br> **Symbol** | **Name of each exchange**<br> **on which registered** |
| Common Stock, par value $0.001 per share | VNDA | The Nasdaq Global Market |

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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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.**  |

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On February 16, 2023, the Compensation Committee (the "Compensation Committee") of the Board of Directors (the "Board") of Vanda Pharmaceuticals Inc. (the "Company") awarded 2022 annual bonuses and approved 2023 annual base salaries and 2023 bonus target amounts for the Company's named executive officers. Prior to approving the foregoing, the Compensation Committee reviewed an analysis of the Company's executive compensation compared to the Company's peer group conducted by Willis Towers Watson, a compensation consultant engaged by the Compensation Committee.

The Compensation Committee awarded bonuses for performance for the twelve-month period ended December 31, 2022 in the amounts set forth opposite the names of the executive officers listed below.

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| | | |
|:---|:---|:---|
| Name | Position | 2022 Bonus |
| Mihael Polymeropoulos, M.D. | President, Chief Executive Officer and Chairman of the Board | $658633 |
| Kevin Moran | Senior Vice President, Chief Financial Officer and Treasurer | $193672 |
| Gunther Birznieks | Senior Vice President, Business Development | $209088 |
| Joakim Wijkstrom | Senior Vice President, Chief Marketing Officer | $251484 |
| Timothy Williams | Senior Vice President, General Counsel and Secretary | $211979 |

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The Compensation Committee approved 2023 annual base salaries and 2023 bonus target amounts for the twelve-month period ending December 31, 2023 in the amounts set forth opposite the names of the executive officers listed below.

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| | | | |
|:---|:---|:---|:---|
| Name | Position | 2023 Base Salary | 2023 Target Bonus |
| Mihael Polymeropoulos, M.D. | President, Chief Executive Officer and Chairman of the Board | $897000 | 80% |
| Kevin Moran | Senior Vice President, Chief Financial Officer and Treasurer | $477000 | 45% |
| Gunther Birznieks | Senior Vice President, Business Development | $520000 | 45% |
| Joakim Wijkstrom | Senior Vice President, Chief Marketing Officer | $560000 | 45% |
| Timothy Williams | Senior Vice President, General Counsel and Secretary | $520000 | 45% |

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In addition, the Compensation Committee granted (i) options to purchase shares of the Company's common stock at an exercise price equal to $7.05 per share, the closing price of the Company's common stock on The Nasdaq Global Market on February 16, 2023 and (ii) restricted stock unit ("RSU") awards under the Company's Amended and Restated 2016 Equity Incentive Plan, as amended, to its named executive officers in the amounts set forth opposite the names of the executive officers listed below. The options vest with respect to 25% of the underlying shares on February 16, 2024, with the balance vesting in equal monthly installments over the next 36 months of continuous service thereafter. The RSUs for all named executive officers will vest in four equal annual installments beginning on March 1, 2024.

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| | | | |
|:---|:---|:---|:---|
| Name | Position | Number of Shares<br> Underlying Option<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grant&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  | Number of Shares<br> Underlying RSU<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Award&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Mihael Polymeropoulos, M.D. | President, Chief Executive Officer and Chairman of the Board | 275000 | 115000 |
| Kevin Moran | Senior Vice President, Chief Financial Officer and Treasurer | 77500 | 32700 |
| Gunther Birznieks | Senior Vice President, Business Development | 77500 | 32700 |
| Joakim Wijkstrom | Senior Vice President, Chief Marketing Officer | 77500 | 32700 |
| Timothy Williams | Senior Vice President, General Counsel and Secretary | 77500 | 32700 |

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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.

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| | | |
|:---|:---|:---|
| Dated: February 17, 2023 | VANDA PHARMACEUTICALS INC. | VANDA PHARMACEUTICALS INC. |
|  | By: | /s/ Timothy Williams |
|  | Name: | Timothy Williams |
|  | Title: | Senior Vice President, General Counsel and Secretary |

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