Business Context and Reporting Period
This Form 8-K Current Report was filed by Arrowhead Pharmaceuticals, Inc. on April 11, 2025. The report discloses significant changes in executive leadership, specifically the departure of the Chief Financial Officer and the appointment of a successor.
Key Financial Metrics
The filing does not provide financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on executive compensation and transition arrangements.
Material Changes
- Departure of CFO: Ken Myszkowski notified the company of his retirement as Chief Financial Officer, effective May 13, 2025. He has served in this role since 2009. The departure is not the result of any disagreement with the company.
- Appointment of CFO: Daniel Apel was appointed as the new Chief Financial Officer, effective May 13, 2025. Mr. Apel joins from Walgreens Boots Alliance, where he served as Global Head of Financial Planning and Analysis.
Compensation and Transition Details
- Outgoing CFO (Ken Myszkowski): Will serve as an employee adviser through January 31, 2026. Compensation includes a base salary of $200,000 annually, continued medical/dental/life insurance, and continued vesting of certain equity awards.
- Incoming CFO (Daniel Apel): Will receive an annual base salary of $575,000 and a target annual bonus of 45% of base salary. He will receive a one-time grant of 100,000 restricted stock units (RSUs) vesting over four years. The company may provide up to $200,000 in relocation benefits.
Outlook and Risks
The filing does not contain updated financial guidance, management commentary on business outlook, or specific risk factors beyond the standard disclosure of executive changes. The transition is described as planned to facilitate an effective handover of responsibilities.
Key Facts for Investor Verification
- Verify the exact effective date of the CFO transition (May 13, 2025) and the duration of the outgoing CFO's advisory role (through January 31, 2026).
- Confirm the total compensation package for the new CFO, including the $575,000 base salary, 45% target bonus, and 100,000 RSU grant.
- Review the attached press release (Exhibit 99.1) for any additional context regarding the strategic rationale for the leadership change.
- Note that no financial performance metrics or liquidity updates are included in this specific filing.