Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On January 21, 2022, Fuad El-Hibri, Chairman of the Board of Directors ("Board")
of Aptevo Therapeutics Inc. ("Company"), notified the Company of his retirement
and resignation as a director of the Company, effective April 1, 2022. Mr.
El-Hibri's retirement is not the result of any dispute or disagreement with the
Company, its management or the Board. It is expected that Mr. El-Hibri will be
available following his retirement as needed on an advisory and consulting basis
on terms to be agreed by the Company and Mr. El-Hibri.
On January 21, 2022, the Board appointed John Niederhuber, M.D. as Chairman of
the Board effective April 1, 2022. Dr. Niederhuber has served on our Board and
as our Vice Chairman (previously lead independent director) since August 2016.
Also effective April 1, 2022, the size of the Company's Board of Directors will
be reduced from seven to six directors.
Item 7.01. Regulation FD Disclosure.
On January 21, 2022, the Company issued a press release regarding Mr. El-Hibri's
retirement and Dr. Niederhuber's appointment as Chairman of the Board, a copy of
which is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. Description
99.1 Press Release dated January 21, 2022.
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
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