Grace Therapeutics, Inc. 8-K

What Happened

• Grace Therapeutics, Inc. announced that Carrie D’Andrea ceased serving as Vice President of Clinical Operations and is no longer employed by the company effective June 5, 2026 (approved June 1, 2026).
• Ms. D’Andrea is expected to sign a separation agreement providing severance benefits consistent with her November 12, 2025 Letter Agreement (as amended January 10, 2026), conditioned on a release of claims and compliance with non‑competition, non‑solicitation and confidentiality obligations.
• On June 5, 2026 Ms. D’Andrea entered a 12‑month Consulting Agreement with Grace to provide services at $250 per hour. While she provides (or is willing to provide) services under the Consulting Agreement, stock options previously awarded to her under the company’s equity plans will continue to vest and remain exercisable; she will have 90 days after the Consulting Agreement ends to exercise vested options.

Key Details

• Departure effective date: June 5, 2026 (company approval June 1, 2026).
• Consulting term: 12 months, fee $250/hour (Consulting Agreement dated June 5, 2026; filed as Exhibit 10.1).
• Severance: Governed by Letter Agreement dated Nov. 12, 2025 (amended Jan. 10, 2026), subject to release and covenant compliance.
• Equity treatment: Options continue vesting while consulting; 90‑day post‑consulting exercise window for vested options.

Why It Matters

• This is an executive-level operational change (VP of Clinical Operations) but not a CEO/CFO departure; the company retained Ms. D’Andrea as a paid consultant, which supports continuity on clinical programs while transitioning her out of employment.
• The consulting arrangement and continued vesting/exercise treatment for options are designed to keep her engaged with ongoing work without full employment, which may affect near‑term payroll and consulting expense but does not change disclosed senior management headcount.
• Investors should note the severance is tied to prior agreement terms and customary release/covenant conditions; there were no financial details beyond the $250/hour consulting rate disclosed in the 8‑K.