10-K/A: GT Biopharma Files Amendment to 10-K to Include Compensation Recovery Policy
Form 10-K/A (Amendment No. 1)
GT Biopharma files an amendment to its 2024 Form 10-K to include the company's Compensation Recovery Policy as an exhibit.
Summary
- GT Biopharma, Inc. filed Amendment No. 1 on Form 10-K/A to revise the Exhibit Index of its Annual Report on Form 10-K for the fiscal year ended December 31, 2024.
- The amendment includes the company's Compensation Recovery Policy as Exhibit 97.1.
- The filing also includes currently dated Exhibit 31 certifications pursuant to Rule 13a-14(a) or 15d-14(a) of the Exchange Act under Item 15(a) of Part IV.
- No financial statements are included in this amendment, and it does not modify or update any financial or other information from the original 2024 10-K.
- The amendment should be read in conjunction with the original 2024 10-K and the company's other filings with the SEC.
- As of February 19, 2025, there were 2,234,328 shares of the registrant's common stock outstanding.
Sentiment
Score: 6
Explanation: The document is a routine regulatory filing. The sentiment is neutral as it primarily addresses compliance matters.
Industry Context
The inclusion of a Compensation Recovery Policy is in line with regulatory requirements and standard corporate governance practices, particularly following accounting restatements.
Comparison to Industry Standards
- Many publicly traded companies, especially those listed on Nasdaq, have adopted similar compensation recovery policies to comply with listing standards and regulatory requirements.
- These policies are designed to ensure accountability and transparency in executive compensation, aligning with best practices in corporate governance.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Policy Adoption | Adoption of Compensation Recovery Policy in accordance with Nasdaq Rules and Section 10D and Rule 10D-1 of the Securities Exchange Act of 1934. | November 3, 2023 | Ensures compliance with listing standards and provides for recovery of erroneously awarded incentive-based compensation from executive officers in the event of an accounting restatement. |
Stakeholder Impact
- The Compensation Recovery Policy aims to protect shareholders' interests by ensuring accountability in executive compensation.
- The policy may impact executive officers by subjecting them to potential recovery of incentive-based compensation in certain circumstances.
Key Dates
| Date | Description |
|---|---|
| 1996-09-10 | Date of Restated Certificate of Incorporation as filed in Delaware |
| 2002-03-01 | Date of amendment to Restated Certificate of Incorporation |
| 2011-02-09 | Date of Certificate of Amendment to the Restated Certificate of Incorporation |
| 2017-07-19 | Effective date of Certificate of Amendment to the Restated Certificate of Incorporation |
| 2021-02-10 | Effective date of Certificate of Amendment to the Restated Certificate of Incorporation |
| 2022-06-13 | Effective date of Certificate of Amendment to the Restated Certificate of Incorporation |
| 2022-11-03 | Effective date of Amended and Restated Bylaws |
| 2023-11-03 | Date of GT Biopharma, Inc. Compensation Recovery Policy |
| 2024-02-01 | Effective date of Certificate of Amendment of Restated Certificate of Incorporation |
| 2024-06-07 | Date of Employment Agreement between the company and Alan Urban |
| 2024-06-30 | Date of aggregate market value of the registrants common stock |
| 2024-07-01 | Effective date that the Company became a fully remote company |
| 2024-11-18 | Date of Investigator Initiated Clinical Trial Agreement |
| 2024-12-31 | Fiscal year end date |
| 2025-02-19 | Date of outstanding shares of common stock |
| 2025-02-21 | Date of original Annual Report on Form 10-K filed with the Securities and Exchange Commission |
| 2025-04-14 | Date of signatures on the Form 10-K/A |
Keywords
Form 10-K/A, Amendment, Compensation Recovery Policy, Financial Reporting, GT Biopharma, SEC Filing
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