10-K/A: MIRA Pharmaceuticals Files Amendment No. 1 to Form 10-K to Include Exhibit on Erroneously Awarded Compensation Recovery Policy
Form 10-K/A Amendment
MIRA Pharmaceuticals files an amendment to its annual report on Form 10-K to include a policy regarding the recovery of erroneously awarded compensation.
Summary
- MIRA Pharmaceuticals filed Amendment No. 1 on Form 10-K/A to its annual report for the fiscal year ended December 31, 2024.
- The amendment's sole purpose is to include Exhibit 97.1, which is the Policy Relating to Recovery of Erroneously Awarded Compensation.
- No other changes were made to the original filing, and the amendment does not modify or update any other financial or information.
- The original filing date was March 28, 2025.
- As of March 28, 2025, there were 16,813,654 shares of common stock outstanding with a par value of $0.0001.
- The aggregate market value of voting and non-voting common equity held by non-affiliates as of June 30, 2024, was $2,440,211, based on a closing sale price of $0.64 per share.
- Certifications by the CEO and CFO are included in the amendment.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing, so the sentiment is neutral.
Industry Context
This filing is a standard regulatory requirement for publicly traded companies to ensure compliance with SEC regulations and transparency regarding company policies.
Comparison to Industry Standards
- The inclusion of a compensation recovery policy is becoming increasingly common among publicly traded companies, driven by regulatory requirements such as those mandated by the Dodd-Frank Act.
- Many companies in the pharmaceutical industry, such as Pfizer, Johnson & Johnson, and AbbVie, have similar policies in place to address the recovery of erroneously awarded compensation from executive officers.
- These policies typically outline the circumstances under which the company can recoup incentive-based compensation, such as in cases of financial restatements due to material noncompliance with accounting requirements.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Policy Implementation | Implementation of a Policy Relating to Recovery of Erroneously Awarded Compensation. | April 1, 2024 | Ensures compliance with regulatory requirements and promotes accountability in executive compensation. |
Stakeholder Impact
- Shareholders: Increased transparency and accountability regarding executive compensation.
- Employees: Potential impact on executive compensation structures.
- Management: Clear guidelines for compensation recovery in case of errors.
Key Dates
| Date | Description |
|---|---|
| 2023-07-28 | Date of Form S-1 filing (referenced in exhibit list) |
| 2023-08-07 | Date of Current Report on Form 8-K filing (referenced in exhibit list) |
| 2023-08-31 | Date of Current Report on Form 8-K filing (referenced in exhibit list) |
| 2023-11-20 | Date of Current Report on Form 8-K filing (referenced in exhibit list) |
| 2024-01-01 | Start of fiscal year ended December 31, 2024 |
| 2024-04-01 | Date of Policy Relating to Recovery of Erroneously Awarded Compensation (filed as Exhibit 23.1 to Form 10-K) |
| 2024-06-28 | Date of Current Report on Form 8-K filing (referenced in exhibit list) |
| 2024-06-30 | Date used for calculating the aggregate market value of voting and non-voting common equity held by non-affiliates |
| 2024-08-12 | Date of Form S-3 filing (referenced in exhibit list) |
| 2024-08-13 | Date of Form 10-Q filing (referenced in exhibit list) |
| 2024-12-31 | End of fiscal year |
| 2025-03-28 | Original Filing Date of Form 10-K |
| 2025-03-28 | Date used for calculating the number of shares of common stock outstanding |
| 2025-04-15 | Date of signatures on the Form 10-K/A |
Keywords
Form 10-K/A, amendment, annual report, MIRA Pharmaceuticals, compensation recovery policy, financial reporting, exhibits
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