Scynexis names Sanjay Subramanian CFO as Macleod retires
SCYNEXIS names a new Chief Financial Officer with an inducement equity grant and change-of-control severance protections as its outgoing CFO retires after a transition period.
Rhea-AI Filing Summary
SCYNEXIS, Inc. (SCYX) reported a planned transition in its finance leadership, with longtime Chief Financial Officer Ivor Macleod retiring and ceasing to serve as CFO, principal financial officer and principal accounting officer effective September 9, 2026, while remaining through October 9, 2026 to support a smooth transition. The company appointed Sanjay Subramanian as its new Chief Financial Officer effective September 9, 2026, also designating him as principal financial officer and principal accounting officer under an employment agreement.
Subramanian’s package includes a $500,000 annual base salary, a $20,000 sign-on bonus, and an annual performance bonus opportunity of up to 40% of base salary, plus a stock option for 100,000 shares of SCYNEXIS common stock at a $4.91 per-share exercise price vesting over four years. The agreement provides severance protections, including salary continuation, equity vesting acceleration, and COBRA benefits for nine months, or 18 months in connection with certain terminations within 12 months after a change of control.
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8-K Event Classification
Key Figures
Key Terms
change of control financial
COBRA benefits regulatory
Nasdaq Listing Rule 5635(c)(4) regulatory
Orphan Drug designation regulatory
Autosomal Dominant Polycystic Kidney Disease (ADPKD) medical
fungerps medical
FAQ
What leadership change did SCYNEXIS (SCYX) announce in this 8-K?
What are the key compensation terms for the new SCYX CFO, Sanjay Subramanian?
What severance protections does SCYNEXIS (SCYX) provide to its new CFO?
What are the terms of the stock option granted to the new SCYX CFO?
Under what plan and rule was the SCYX CFO’s option grant made?
What business focus did SCYNEXIS (SCYX) highlight alongside the CFO change?
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
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 September 9, 2026, the then-current Chief Financial Officer of SCYNEXIS, Inc. (the “Company” or “SCYNEXIS”), Ivor Macleod, CPA, MBA, notified the Company of his intent to retire. Mr. Macleod ceased serving as the Company’s Chief Financial Officer, principal financial officer and principal accounting officer effective September 9, 2026. Mr. Macleod will remain with the Company through October 9, 2026 to support a smooth transition, after which his employment with the Company will end.
Appointment of New Chief Financial Officer
On September 10, 2026, the Company announced that Sanjay Subramanian, MBA, has been appointed to serve as SCYNEXIS’s Chief Financial Officer, in which role he will be SCYNEXIS’s principal financial officer and principal accounting officer. Mr. Subramanian’s first date of employment was September 9, 2026.
SCYNEXIS and Mr. Subramanian are parties to an employment agreement, effective as of September 9, 2026, setting forth the terms of his employment as SCYNEXIS’s Chief Financial Officer. Pursuant to the terms of the employment agreement, Mr. Subramanian will receive an annual base salary of $500,000, a one-time sign-on bonus of $20,000, a discretionary annual performance bonus of up to 40% of his base salary, and a stock option to purchase 100,000 shares of SCYNEXIS common stock at an exercise price equal to the closing price of SCYNEXIS common stock on the date of grant, vesting over four years. In addition, the employment agreement provides for severance benefits, such that in the event that SCYNEXIS terminates Mr. Subramanian’s employment agreement other than for “just cause” or Mr. Subramanian resigns for “good reason” (each as defined in the agreement), other than within 12 months after a change of control of SCYNEXIS, Mr. Subramanian will receive as severance nine months base salary, nine months accelerated vesting of equity awards, and up to nine months COBRA benefits. If such termination is within 12 months after a change of control of SCYNEXIS, Mr. Subramanian will receive as severance 18 months base salary, full accelerated vesting of equity awards, and up to 18 months COBRA benefits. Such payments are subject to reduction to avoid adverse tax results.
There are no arrangements or understandings between Mr. Subramanian and any other person pursuant to which he was appointed as Chief Financial Officer. There are no family relationships between Mr. Subramanian and any director or officer of the Company, nor does Mr. Subramanian have any direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.
Sanjay Subramanian, age 50, is an accomplished biopharmaceutical finance executive with more than 20 years of experience in finance, capital markets, business development, and corporate strategy. Prior to joining SCYNEXIS, Mr. Subramanian served as Chief Financial Officer and Head of Business Development at Inozyme Pharma, Inc. (“Inozyme”), where he led finance, investor relations, legal, and business development activities and played a key role in Inozyme’s acquisition by BioMarin Pharmaceutical Inc.. Previously, he served as Chief Financial Officer and Head of Corporate Development at Ocugen, Inc. Earlier in his career, he held finance leadership positions at Aralez Pharmaceuticals, Bausch Health Companies, and General Motors. Mr. Subramanian earned an M.B.A. from the MIT Sloan School of Management, a Master of Science from the Massachusetts Institute of Technology, a Master of Science from The Ohio State University, and a Bachelor of Science in Mechanical Engineering from the Indian Institute of Technology Madras.
Item 8.01. Other Events.
On September 10, 2026, the Company issued a press release announcing the matters described above, a copy of which is filed as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
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Press Release issued by SCYNEXIS, Inc. dated September 10, 2026 |
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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.
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SCYNEXIS, Inc. |
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September 10, 2026 |
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/s/ David Angulo, M.D. |
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David Angulo, M.D. |
SCYNEXIS Announces Appointment of Sanjay Subramanian as Chief Financial Officer
Accomplished biopharmaceutical finance executive brings extensive experience driving capital markets activities, strategic transactions, and growth across public companies.
JERSEY CITY, N.J., September 10, 2026 – SCYNEXIS, Inc. (NASDAQ: SCYX) (the Company or SCYNEXIS), a clinical-stage biotechnology company dedicated to advancing innovative solutions for severe rare diseases, today announced the appointment of Sanjay Subramanian, MBA, as Chief Financial Officer, effective September 9, 2026. The Company also announced the retirement of Ivor Macleod from his role as Chief Financial Officer, effective September 9, 2026. Mr. Macleod will remain with the Company through October 9, 2026 to support a smooth transition.
"We are delighted to welcome Sanjay to SCYNEXIS and excited to add his extensive financial and strategic leadership experience to our executive team," said David Angulo, M.D., President and Chief Executive Officer of SCYNEXIS. "Sanjay's proven track record in capital markets, business development and strategic growth, combined with his broad financial expertise, will be invaluable as we advance our pipeline, execute on our corporate objectives and drive long-term value for patients and shareholders."
Dr. Angulo continued, "I would also like to thank Ivor for his many contributions to SCYNEXIS during his nearly four years with the Company. Since joining SCYNEXIS in 2022, Ivor has played an important role in strengthening our financial position and supporting the Company's strategic evolution. On behalf of the Board of Directors and the entire SCYNEXIS team, I am grateful for his leadership, partnership and dedication, and we wish him all the best in his retirement."
Mr. Subramanian commented, "I am excited to join SCYNEXIS at such a pivotal stage in the Company's evolution. The Company's focus on developing innovative therapies for severe rare diseases represents a compelling opportunity to make a meaningful difference in patients' lives. I look forward to partnering with David, the leadership team and the Board as SCYNEXIS advances its pipeline and pursues its long-term objectives."
Mr. Macleod added, "It has been a privilege to serve as Chief Financial Officer of SCYNEXIS and to work alongside such a talented and dedicated team. I am proud of what we have accomplished together and confident that the Company is well-positioned for future success. I look forward to supporting Sanjay and ensuring a seamless transition."
Mr. Subramanian brings more than 20 years of finance, capital markets, business development and operational leadership experience across the biotechnology, pharmaceutical and healthcare sectors. Most recently, he served as Chief Financial Officer and Head of Business Development at Inozyme Pharma, where he oversaw finance, investor relations, business development and legal functions and led the company's acquisition by BioMarin Pharmaceutical. Previously, he served as Chief Financial Officer and Head of Corporate Development at Ocugen. Earlier in his career, he held finance leadership positions at Aralez Pharmaceuticals, Bausch Health Companies, and General Motors. He holds an M.B.A. from the MIT Sloan School of Management,
master's degrees from MIT and The Ohio State University, and a bachelor's degree in mechanical engineering from the Indian Institute of Technology Madras.
In connection with his appointment, on September 9, 2026, Mr. Subramanian was granted an option to purchase 100,000 shares of SCYNEXIS common stock, at a per share exercise price of $4.91, the closing trading price on September 9, 2026. The stock option has a ten-year term and vests over four years, with one-fourth of the shares subject to the option vesting on the one-year anniversary of the date of grant and the remainder vesting in equal monthly installments over the following thirty-six months, provided Mr. Subramanian continues to provide service to SCYNEXIS. The stock option was granted pursuant to the SCYNEXIS 2015 Inducement Award Plan and as a material inducement to Mr. Subramanian entering into employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4).
About SCYNEXIS
SCYNEXIS, Inc. (NASDAQ: SCYX) is a clinical-stage biotechnology company dedicated to advancing innovative solutions for severe rare diseases. SCY-770 is being developed for the treatment of Autosomal Dominant Polycystic Kidney Disease (ADPKD) and has been granted Orphan Drug designation. SCYNEXIS’s proprietary antifungal platform “fungerps” includes BREXAFEMME® (ibrexafungerp tablets), the first approved representative of this novel class, which has been licensed to GSK, and SCY-247, currently in clinical stages of development. For more information, visit www.scynexis.com.
CONTACT:
Investor Relations
John Fraunces
LifeSci Advisors
Tel: 917-355-2395
jfraunces@lifesciadvisors.com