10-K/A: Eyenovia Files Amendment to 2024 Annual Report on Form 10-K
10-K/A Amendment
Eyenovia, Inc. files an amendment to its 2024 Annual Report on Form 10-K to include previously omitted information regarding directors, executive compensation, security ownership, related transactions, and principal accountant fees.
Summary
- Eyenovia, Inc. is filing Amendment No. 1 on Form 10-K/A to amend its Annual Report on Form 10-K for the fiscal year ended December 31, 2024.
- The amendment includes information required by Items 10 through 14 of Part III of the 2024 10-K, which was previously omitted.
- The cover page of the 2024 10-K is updated to reflect the number of outstanding shares of common stock as of April 23, 2025, which was 2,830,546.
- The amendment also updates the exhibit list to include new certifications by the principal executive officer and principal financial officer under Section 302 of the Sarbanes-Oxley Act of 2002.
- No other changes have been made to the 2024 10-K, and the amendment does not modify, amend, or update any financial or other information contained in the original report.
- The amendment should be read in conjunction with the 2024 10-K and subsequent filings with the SEC.
Sentiment
Score: 6
Explanation: The document is a regulatory filing, so the sentiment is neutral. It provides necessary information but doesn't express any particular positive or negative outlook.
Positives
- The company is providing additional information to the market.
Management Comments
- I, Michael Rowe, certify that: I have reviewed this Amendment No. 1 to the Annual Report on Form 10-K of Eyenovia, Inc. for the year ended December 31, 2024; and Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report.
Industry Context
This filing is a standard regulatory requirement for publicly traded companies to ensure transparency and provide investors with comprehensive information about the company's operations, governance, and financial performance.
Comparison to Industry Standards
- The executive compensation disclosure follows the rules applicable to smaller reporting companies, which is common for companies of Eyenovia's size.
- The director independence standards are consistent with Nasdaq Listing Rules and SEC regulations, ensuring proper corporate governance.
Management Changes
| Role | Previous Person | New Person | Effective Date | Reason |
|---|---|---|---|---|
| Chief Financial Officer | John P. Gandolfo | Andrew Jones | August 30, 2024 | Gandolfo retired |
| Chief Financial Officer | Andrew Jones | Michael Rowe | November 22, 2024 | Jones transitioned out of his position |
Stakeholder Impact
- Shareholders receive updated information on company governance and executive compensation.
- Employees are affected by changes in executive roles and compensation structures.
Key Dates
| Date | Description |
|---|---|
| March 2014 | Tsontcho Ianchulev joined the Board of Directors. |
| March 2018 | Charles E. Mather IV joined the Board of Directors. |
| February 2019 | John P. Gandolfo was compensated for his services as our Chief Financial Officer pursuant to an Employment Agreement dated February 15, 2019. |
| February 2022 | Rachel Jacobson joined the Board of Directors. |
| July 26, 2022 | Michael Rowe was appointed as the Company's Chief Executive Officer. |
| August 2022 | Michael Rowe became the Chief Executive Officer and a member of the Board of Directors. |
| July 2022 | Ram Palanki and Ellen Strahlman joined the Board of Directors. |
| November 22, 2022 | Loan and Security Agreement, dated November 22, 2022, by among Eyenovia, Inc., Avenue Capital Management II, L.P., Avenue Venture Opportunities Fund, L.P. and Avenue Venture Opportunities Fund II, L.P. |
| December 19, 2022 | Bren Kern was compensated for his services as our Chief Operating Officer pursuant to an Employment Agreement dated December 19, 2022. |
| January 2023 | Bren Kern became the Company's Chief Operating Officer. |
| November 2023 | Michael Geltzeiler joined the Board of Directors. |
| January 12, 2024 | Mutual Termination and Reassignment, dated January 12, 2024, by and between Eyenovia, Inc and Bausch + Lomb Ireland Limited |
| June 12, 2024 | The Board of Directors granted RSUs and options to directors. |
| August 30, 2024 | Andrew Jones was compensated for his services as our Chief Financial Officer pursuant to an Employment Agreement dated August 30, 2024. |
| September 30, 2024 | Dr. Ianchulev stepped down as Executive Chair of the Board. |
| October 1, 2024 | Charles E. Mather IV became Chairman of the Board. |
| November 15, 2024 | John Gandolfo retired. |
| November 22, 2024 | Andrew Jones transitioned out of his position as Chief Financial Officer. |
| December 30, 2024 | Amended and Restated Sales Agreement, dated December 30, 2024, by and between Eyenovia, Inc. and Chardan Capital Markets, LLC |
| December 31, 2024 | End of fiscal year. |
| January 31, 2025 | Reverse stock split at a ratio of 1-for-80 was effected. |
| April 15, 2025 | Original filing date of the 2024 10-K. |
| April 23, 2025 | Number of outstanding shares of common stock was 2,830,546. |
| April 30, 2025 | Date of Amendment No. 1 filing. |
Keywords
Eyenovia, 10-K/A, Amendment, Annual Report, Executive Compensation, Directors, Security Ownership, Related Transactions, Accountant Fees
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