Item 5.02
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Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
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On November 19, 2024, Bryant E. Fong notified ADMA Biologics, Inc. (the "Company") that he resigned, effective immediately, as a member of the Company's Board of Directors (the "Board") and any committees of the Board in order to devote more time to his roles as Managing Director of Biomark Capital Fund and as Partner and Co-Portfolio Manager of Stonepine Capital Management. There are no disagreements between Mr. Fong and the Company on any matter relating to the Company's operations, policies or practices. Mr. Fong served as a member of the Company's Board since 2012. He also served as Chairman of the Company's Audit Committee and a member of the Company's Governance and Nominations Committee and Compensation Committee.
On November 19, 2024, Young T. Kwon, PhD was appointed as Chairman of the Company's Audit Committee and designated as an "audit committee financial expert", as such term is defined in Securities and Exchange Commission rules, Steven A. Elms was added as a member of the Company's Audit Committee, and Alison C. Finger was added as a member of the Company's Governance and Nominations Committee and Compensation Committee.