New Harmony Biosciences (NASDAQ: HRMY) CFO as 2026 WAKIX revenue view held
Rhea-AI Filing Summary
Harmony Biosciences Holdings, Inc. announced a chief financial officer transition, with Sandip Kapadia stepping down and Glenn Reicin appointed CFO effective April 14, 2026. Kapadia will receive severance under a Separation Agreement consistent with his employment and award agreements, in exchange for a release of claims and ongoing covenants.
Reicin’s Employment Agreement provides a $500,000 annual base salary, a target annual bonus equal to 50% of salary, and a stock option grant with a grant date fair value of $3,000,000, vesting over four years. In a concurrent press release, Harmony reiterated its 2026 net product revenue guidance for WAKIX of $1.0 to $1.04 billion.
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Insights
CFO transition with defined pay package and reaffirmed 2026 WAKIX revenue guidance.
Harmony Biosciences is implementing an immediate CFO handover from Sandip Kapadia to industry veteran Glenn Reicin. The transition is structured via a Separation Agreement for Kapadia and an Executive Employment Agreement for Reicin, which outlines salary, bonus targets and equity incentives.
The company highlights Reicin’s prior CFO and operating experience at multiple biopharma firms and ties his compensation to performance metrics and multi‑year option vesting. The accompanying reiteration of $1.0–$1.04 billion 2026 net product revenue guidance for WAKIX signals that existing financial expectations remain unchanged despite the leadership change.
Severance and change‑in‑control protections, including Section 280G “best pay” treatment and accelerated vesting upon qualifying terminations around a change in control, align Reicin’s interests with transaction outcomes while managing excise tax exposure. Future company filings may provide additional detail on how execution under the new CFO progresses against the reiterated 2026 revenue targets.
8-K Event Classification
Key Figures
Key Terms
Separation Agreement regulatory
Executive Employment Agreement regulatory
net product revenue guidance financial
change in control financial
parachute payments financial
Section 280G of the Internal Revenue Code regulatory
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Departure of Chief Financial Officer
On April 14, 2026, Harmony Biosciences Holdings, Inc. (the “Company”) announced that Sandip Kapadia, the Company’s Chief Financial Officer, will be stepping down as the Company’s Chief Financial Officer effective as of April 14, 2026 to pursue other career opportunities.
In connection with his departure from the Company, on April 14, 2026, the Company and Harmony Biosciences Management, Inc. (“Harmony”) entered into a Separation Agreement with Mr. Kapadia (the “Separation Agreement”), pursuant to which Mr. Kapadia will be entitled to receive the severance payments and benefits in accordance with his employment agreement and award agreements, in exchange for a release of claims in favor of the Company and its affiliates and continued compliance with the Separation Agreement and any restrictive covenants.
The foregoing description of the Separation Agreement is not complete and is subject to and qualified in its entirety by the terms of the Separation Agreement, a copy of which is filed herewith as Exhibit 10.1 and incorporated herein by reference.
Appointment of Chief Financial Officer
On April 14, 2026, the Company announced that Glenn Reicin has been appointed as Chief Financial Officer of the Company, effective as of April 14, 2026.
Mr. Reicin, age 61, previously served as Senior Advisor to Eccogene, Inc. (“Eccogene”), a clinical stage biopharmaceutical company developing small molecule therapeutics for cardiometabolic and inflammatory conditions, from October 2025 to April 2026. He also served as Chief Financial Officer at Eccogene from October 2024 to October 2025. Prior to joining Eccogene, Mr. Reicin served as Chief Financial Officer and Chief Operating Officer at Alladapt Immunotherapeutics, Inc., from June 2021 to January 2024. Mr. Reicin also served as Chief Financial Officer and Treasurer of Sigilon Therapeutics, Inc. from May 2019 to June 2021. Previously, he served as an Executive-in-Resident at Covidien Plc and Managing Director at Skyline Ventures Management LLC (“Skyline Ventures”). At Skyline Ventures, he served as an active board member at a number of biotech firms, including Novasys Medical Inc., SI-Bone Inc., and Spinal Motion, Inc. Mr. Reicin began his career at Morgan Stanley where he served as a Managing Director in equity research covering medical technology. Mr. Reicin holds an M.B.A. from Harvard Business School and a B.A. from Brandeis University.
In connection with Mr. Reicin’s appointment as Chief Financial Officer, Harmony, executed an Executive Employment Agreement with Mr. Reicin (the “Employment Agreement”). Mr. Reicin’s employment pursuant to the Employment Agreement will continue until terminated in accordance with its terms.
Under the Employment Agreement, Mr. Reicin is entitled to receive (i) an annual base salary of $500,000 and (ii) a target annual bonus opportunity of 50% of his annual base salary, effective as of April 14, 2026. The actual amount of any annual bonus will be determined by reference to the attainment of applicable Harmony and/or individual performance objectives. Mr. Reicin will be eligible to participate in customary health, welfare and fringe benefit plans provided by Harmony to its employees.
Pursuant to the Employment Agreement, the Company will grant Mr. Reicin an option award with an aggregate grant date fair value of $3,000,000, which vests with respect to 25% of the underlying shares of the option award on the first anniversary of the grant date and with respect to 75% of the underlying shares of the option award on a quarterly basis thereafter until the fourth anniversary of the grant date, subject to Mr. Reicin’s continued employment through each vesting date.
If Mr. Reicin experiences a termination of employment by Harmony without cause or for good reason, then, in addition to any accrued amounts, he will be entitled to receive the following severance payments and benefits:
| ● | A cash severance amount equal to his annual base salary, payable in substantially equal installments over the 12-month period following the termination date. |
| ● | Harmony-paid healthcare coverage for 12 months following the termination date. |
| ● | Any earned but unpaid annual bonus for the year prior to the year of termination. |
| ● | Harmony-paid outplacement services for up to 12 months following the termination date. |
If either such termination of employment occurs during the 12-month period following or the 60-day period preceding a change in control of the Company, then Mr. Reicin also will receive (i) a pro-rata target annual bonus for the year of termination and (ii) full accelerated vesting of the stock option granted to Mr. Reicin in connection with the Employment Agreement.
The severance described above would be subject to his execution and non-revocation of a general release of claims in favor of the Company and its affiliates and continued compliance with restrictive covenants.
The Employment Agreement also includes a “best pay” provision under Section 280G of the Internal Revenue Code, pursuant to which any “parachute payments” that become payable to Mr. Reicin will be either paid in full or reduced so that such payments are not subject to the excise tax under Section 4999 of the Internal Revenue Code, whichever results in better after-tax treatment for Mr. Reicin.
In connection with entering into the Employment Agreement, Mr. Reicin also executed a Confidentiality and Non-Competition Agreement, which contains customary confidentiality, non-competition and non-solicitation provisions.
The foregoing description of the Employment Agreement is qualified in its entirety by the full text of such agreement, which is filed as Exhibit 10.2 hereto and incorporated herein by reference.
Mr. Reicin has no family relationships with any director or executive officer of the Company. There are no transactions involving Mr. Reicin that would be required to be reported under Item 404(a) of Regulation S-K.
Item 7.01. Regulation FD Disclosure.
On April 14, 2026, the Company issued a press release announcing the appointment of Mr. Reicin as Chief Financial Officer of the Company. A copy of the press release is furnished as Exhibit 99.1 to this Current Report and is incorporated herein by reference.
The information furnished in this Item 7.01, including Exhibit 99.1, shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities under that section and shall not be deemed to be incorporated by reference in any filing made by the Company under the Securities Act of 1933, as amended, or the Exchange Act, except as set forth by specific reference in such filing.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit | | |
No. | Description | |
10.1 | Separation Agreement by and between Harmony Biosciences Holdings, Inc., Harmony Biosciences Management, Inc., and Sandip Kapadia, dated April 14, 2026. | |
10.2 | Executive Employment Agreement by and between Harmony Biosciences Management and Glenn Reicin, dated April 14, 2026. | |
99.1 | Press release issued by the Company, dated April 14, 2026. | |
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
HARMONY BIOSCIENCES HOLDINGS, INC. | ||
Date: April 14, 2026 | By: | /s/ Jeffrey M. Dayno, M.D. |
Jeffrey M. Dayno, M.D. | ||
President and Chief Executive Officer | ||
Harmony Biosciences APPOINTS Glenn Reicin as Chief Financial Officer
COMPANY REITERATES ITS 2026 NET REVENUE GUIDANCE of OVER $1 BILLION In WAKIX SALES
PLYMOUTH MEETING, Pa., April 14, 2026 /Business Wire/ — Harmony Biosciences Holdings, Inc. (Nasdaq: HRMY), today announced the appointment of Glenn Reicin as Chief Financial Officer, effective immediately, supporting Harmony’s continued focus on strategic growth, financial strength, and long-term value creation. Harmony is also reiterating its 2026 net product revenue guidance of $1.0 to $1.04 billion.
Mr. Reicin is a seasoned biopharmaceutical executive with extensive experience across publicly traded and privately held companies, guiding them through key growth inflection points. With his experience as a sell-side analyst, investor and biotech CFO, he brings a strong track record of success in strategic planning, capital markets, fundraising, and financial reporting. Most recently, Mr. Reicin served as Chief Financial Officer at Eccogene, where he led the buildout of the company’s financial infrastructure to make the company IPO ready and support its long-term growth strategy.
Previously, Mr. Reicin served as Chief Financial Officer and Chief Operating Officer at Alladapt Immunotherapeutics, where he oversaw fundraising efforts, the buildout of strong clinical and manufacturing operations, and led the company through multiple financing initiatives. He started his career as a research analyst at Morgan Stanley where he was a top-ranked analyst for 15 consecutive years. He also spent four years as the Managing Director of Skyline Ventures. Throughout his career, Mr. Reicin has demonstrated a strong aptitude for strategic planning and capital allocation and has positioned organizations for sustained growth and value creation.
As Chief Financial Officer and a member of the Executive Team, Mr. Reicin will play a pivotal role in helping to drive the execution of Harmony’s key strategic priorities. He will oversee Harmony’s finance organization, including financial planning and analysis, accounting, treasury, investor relations, and risk management.
“I am excited to welcome Glenn to Harmony and his appointment comes at a pivotal moment in the evolution of the company, as we look to leverage our strong balance sheet to grow the enterprise and drive long-term value creation,” said Jeffrey M. Dayno, M.D., President and Chief Executive Officer of Harmony Biosciences. “Glenn’s experience leading organizations through periods of growth and transformation will be instrumental as we look to execute on our strategy with a focus on bringing innovative treatments to patients with unmet medical needs and creating even greater value for our shareholders.”
“I also want to thank Sandip Kapadia for his leadership and many contributions to Harmony,” Dayno continued. “Sandip has been a trusted partner during an important period for the company, helping to
strengthen our financial profile and support our growth strategy. We are grateful for his service and wish him continued success throughout his career.”
“I am excited to join Harmony and see significant potential ahead,” said Mr. Reicin. “Harmony’s strong leadership team, along with its solid financial profile, outstanding commercial operations, and keen focus on building out its pipeline, present an exciting opportunity for continued growth and significant shareholder value creation.”
About Harmony Biosciences
Harmony Biosciences is a pharmaceutical company dedicated to developing and commercializing innovative therapies for patients with rare neurological diseases who have unmet medical needs. Driven by novel science, visionary thinking, and a commitment to those who feel overlooked, Harmony Biosciences is nurturing a future full of therapeutic possibilities that may enable patients with rare neurological diseases to truly thrive. Established by Paragon Biosciences, LLC, in 2017 and headquartered in Plymouth Meeting, Pa., we believe that when empathy and innovation meet, a better future can begin; a vision evident in the therapeutic innovations we advance, the culture we cultivate, and the community programs we foster. For more information, please visit www.harmonybiosciences.com.
Harmony Biosciences Investor Contact:
Brennan Doyle
484-566-3685
bdoyle@harmonybiosciences.com
Harmony Biosciences Media Contact:
Cate McCanless
202-641-6086
cmccanless@harmonybiosciences.com