Grace Therapeutics VP exits, signs consulting deal
Grace Therapeutics, Inc. reported that Carrie D’Andrea will cease serving as Vice President of Clinical Operations and will no longer be employed by the company effective June 5, 2026, a change approved on June 1, 2026.
Rhea-AI Filing Summary
Grace Therapeutics, Inc. reported that Carrie D’Andrea will cease serving as Vice President of Clinical Operations and will no longer be employed by the company effective June 5, 2026, a change approved on June 1, 2026.
She is expected to receive severance benefits under a prior letter agreement, subject to a release of claims and continued compliance with non-competition, non-solicitation, and confidentiality obligations. In connection with her departure, D’Andrea entered into a 12‑month Consulting Agreement starting June 5, 2026, under which she will provide services at $250 per hour.
During the consulting term, her stock options granted under the company’s equity plans will continue to vest and remain exercisable while she provides, or is willing to provide, services. She will have 90 days after the consulting agreement ends to exercise any vested options.
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8-K Event Classification
2 items: 5.02, 9.01
2 items
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Key Figures
Employment end date: June 5, 2026
Approval date: June 1, 2026
Consulting term: 12 months
+2 more
5 metrics
Employment end date
June 5, 2026
Effective date Carrie D’Andrea ceases employment
Approval date
June 1, 2026
Date company approved employment termination
Consulting term
12 months
Duration of Consulting Agreement starting June 5, 2026
Consulting fee
$250 per hour
Hourly fee for consulting services under the agreement
Option exercise window
90 days
Time after consulting termination to exercise vested options
Key Terms
Separation Agreement, Consulting Agreement, non-competition, non-solicitation, +2 more
6 terms
Separation Agreement financial
"The foregoing descriptions of the Separation Agreement and Consulting Agreement do not purport to be complete"
A separation agreement is a written contract that spells out the financial and legal terms when an employee and a company part ways, such as final pay, severance, continued benefits, confidentiality, and any release of claims. For investors, it matters because these agreements determine immediate costs, potential future liabilities, and whether departing staff are restricted from competing or disclosing information—factors that can affect a company’s cash flow, risk profile, and leadership continuity.
Consulting Agreement financial
"In connection with her separation from the Company, Ms. D’Andrea entered into a twelve-month Consulting Agreement"
non-competition financial
"including the non-competition and non-solicitation covenants of the Letter Agreement"
A non-competition is a contractual restriction that prevents a person or business from starting or working in a competing business within a specified time and geographic area after leaving a job or completing a transaction. It matters to investors because it acts like a temporary fence around customers, trade secrets and know‑how, helping protect future revenue and company value; weak or unenforceable restrictions can increase the risk of customer loss and competitive erosion.
non-solicitation financial
"including the non-competition and non-solicitation covenants of the Letter Agreement"
A non-solicitation clause is a contractual promise that one party will not actively try to lure away another party’s employees, customers, or suppliers. For investors, it signals protection of a company’s workforce and client base after a deal or partnership—reducing the risk that key staff or revenue sources will be poached and therefore helping preserve the business’s value, predictability, and post-transaction earnings. Think of it as an agreement not to knock on a neighbor’s door to take their business or team.
2024 Equity Incentive Plan financial
"stock option awards that Ms. D’Andrea received during her employment by the Company under the Grace Therapeutics, Inc. 2024 Equity Incentive Plan"
Stock Option Plan financial
"or the Acasti Pharma Inc. Stock Option Plan, as amended August 4, 2022"
A stock option plan is a company program that gives employees the right to buy company shares at a preset price after a certain time, like a coupon allowing purchase later at a fixed rate. It matters to investors because these options can increase the number of shares outstanding — reducing each existing share’s ownership slice and potentially changing per-share results — while also aligning employee incentives with boosting the company’s value.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What leadership change did Grace Therapeutics (GRCE) disclose in this 8-K?
Grace Therapeutics disclosed that Carrie D’Andrea will cease serving as Vice President of Clinical Operations and will no longer be employed by the company effective June 5, 2026, following approval of this change on June 1, 2026.
What severance arrangements apply to Carrie D’Andrea at Grace Therapeutics (GRCE)?
Carrie D’Andrea is expected to receive severance benefits consistent with a prior Letter Agreement, conditioned on signing a release of claims and complying with ongoing obligations, including non-competition, non-solicitation covenants, and confidentiality and proprietary information obligations with Grace Therapeutics.
What are the key terms of Carrie D’Andrea’s consulting agreement with Grace Therapeutics (GRCE)?
Grace Therapeutics entered a twelve-month Consulting Agreement with Carrie D’Andrea on June 5, 2026. She will provide consulting services for a fee of $250 per hour during the term, under the specific services and conditions described in the agreement attached as an exhibit.
How does the consulting agreement affect Carrie D’Andrea’s stock options at Grace Therapeutics (GRCE)?
While the consulting agreement is in effect, Carrie D’Andrea’s stock options granted under the 2024 Equity Incentive Plan and Acasti Pharma plan will continue to vest and remain exercisable, as long as she provides or is willing to provide services under the agreement’s terms.
How long does Carrie D’Andrea have to exercise vested stock options after consulting for Grace Therapeutics (GRCE)?
Carrie D’Andrea will have 90 days from the termination of the Consulting Agreement with Grace Therapeutics to exercise any vested stock options, in accordance with the terms and conditions of the underlying equity plans and the consulting arrangement.
AI-generated analysis. How Rhea-AI works. Not financial advice.
