Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Sorrento Therapeutics, Inc. (the "Company") is saddened to report that Najjam
Asghar, the Company's Senior Vice President and Chief Financial Officer, passed
away unexpectedly on January 6, 2022. Mr. Asghar had served as the Company's
Senior Vice President and Chief Financial Officer since August 2020 and as the
Company's Chief Accounting Officer from June 2019 to August 2020. He will be
greatly missed and the Company extends its sincere condolences to Ms. Asghar's
family.
Following Mr. Asghar's unexpected death, the Company's Board of Directors (the
"Board") has appointed Henry Ji, Ph.D., the Company's Chairman of the Board,
President and Chief Executive Officer, to serve as the Company's interim Chief
Financial Officer. Upon commencement of his appointment, Dr. Ji assumed the
duties of the Company's principal financial officer and principal accounting
officer until such time as his successor is appointed, or until his earlier
resignation or removal. The biographical information for Dr. Ji required by Item
401 of Regulation S-K was previously disclosed under the heading "Proposal 1:
Election of Directors" in the Company's definitive proxy statement on Schedule
14A filed by the Company with the Securities and Exchange Commission on October
5, 2021 (the "Proxy Statement"), and such information is incorporated herein by
reference. There are no reportable family relationships or related party
transactions (as defined in Item 404(a) of Regulation S-K) involving the Company
and Dr. Ji other than compensation arrangements with Dr. Ji and a customary
indemnification agreement between the Company and Dr. Ji, each of which is
described in the Proxy Statement.
Item 8.01. Other Events.
On January 7, 2022, the Company issued a press release announcing Mr. Asghar's
unexpected death. A copy of the press release is filed herewith as Exhibit 99.1
to this Current Report on Form 8-K and is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibit.
99.1 Press Release, dated January 7, 2022.
104 Cover Page Interactive Data File, formatted in Inline Extensible Business
Reporting Language (iXBRL).
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