ZVRA announces CFO resignation and 12-month severance package

Rhea-AI Filing Summary

Zevra Therapeutics, Inc. reported that its Chief Financial Officer, Treasurer, and principal financial officer, R. LaDuane Clifton, has decided to resign effective December 31, 2025 to pursue other professional opportunities. The company and Mr. Clifton entered into a Separation Agreement under which he will receive separation benefits after his departure, including cash payments equal to 12 months of his annual base salary, an annual bonus equal to 40% of his base salary, up to 12 months of company-paid COBRA continuation coverage, and full vesting of his outstanding equity awards. These benefits are conditioned on his continued compliance with non-disparagement, confidentiality, non-competition, and non-solicitation covenants. Zevra has begun a search process to identify a new chief financial officer and issued a press release describing these matters.

Insights

Corporate governance and executive compensation analyst

Zevra’s CFO will depart year-end 2025 with a structured severance package.

The company announced that its Chief Financial Officer and principal financial officer, R. LaDuane Clifton, will resign effective December 31, 2025. Leadership transitions in the finance function can affect continuity in financial reporting and capital planning, but the orderly timing gives Zevra a defined window to manage the change.

The Separation Agreement provides cash separation benefits equal to 12 months of Mr. Clifton’s annual base salary, an annual bonus equal to 40% of base salary, up to 12 months of company-paid COBRA coverage, and full vesting of his outstanding equity awards. These are conditioned on restrictive covenants, including non-disparagement, confidentiality, non-competition, and non-solicitation, which help protect the company’s interests after his departure.

Zevra has started a search for a new chief financial officer, indicating an intent to maintain a dedicated senior finance leader after December 31, 2025. Subsequent company disclosures may provide details on the incoming CFO’s background and any changes to financial or strategic priorities once the new executive is appointed.

8-K Event Classification

3 items: 5.02, 7.01, 9.01

3 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 7.01 Regulation FD Disclosure Disclosure

Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Understanding 8-K Material Events →

ZEVRA THERAPEUTICS, INC. NASDAQ false 0001434647 0001434647 2025-11-20 2025-11-20

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

Date of Report (Date of Earliest Event Reported): November 20, 2025

Zevra Therapeutics, Inc

(Exact Name of Registrant as Specified in Its Charter)

Delaware		001-36913		20-5894398
(State or Other Jurisdiction of Incorporation)		(Commission File Number)		(IRS Employer Identification No.)
1180 Celebration Boulevard, Suite 103, Celebration, FL				34747
(Address of Principal Executive Offices)				(Zip Code)

Registrant’s Telephone Number, Including Area Code: (321) 939-3416

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, par value $0.0001 per share		ZVRA		The Nasdaq Stock Market LLC (Nasdaq Global Select Market)

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.

On November 20, 2025, R. LaDuane Clifton, the Chief Financial Officer and Treasurer and principal financial officer of Zevra Therapeutics, Inc. (the “Company”) notified the Company of his decision to resign from his position, effective December 31, 2025 (the “Separation Date”), in order to pursue other professional opportunities.

In connection with Mr. Clifton’s resignation, the Company and Mr. Clifton entered into a Separation Agreement and General Release (the “Separation Agreement”). Pursuant to the Separation Agreement, following the Separation Date, Mr. Clifton will receive the separation benefits consisting of (i) an amount equal to 12 months of his annual base salary, payable in accordance with the Company’s normal payroll schedule, (ii) an annual bonus of 40% of his base salary, (iii) up to 12 months of Company-paid COBRA continuation coverage, and (iv) full vesting of his outstanding equity awards.

The payments and benefits under the Separation Agreement are contingent upon Mr. Clifton’s continued compliance with certain restrictive covenants, including non-disparagement, confidentiality, non-competition, and non-solicitation provisions.

The Company has commenced a search process to identify a chief financial officer.

Item 7.01 Regulation FD Disclosure.

On November 20, 2025, the Company issued a press release announcing the matters disclosed in Item 5.02. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference. The information in this Item 7.01 and Exhibit 99.1 attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities and Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall they be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as expressly set forth by specific reference in such filing.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.		Description
99.1		Press Release dated November 20, 2025.
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 thereunto duly authorized.

				Zevra Therapeutics, Inc.
Date: November 20, 2025				By:		/s/ Timothy J. Sangiovanni
						Timothy J. Sangiovanni, CPA
						Senior Vice President, Finance and Corporate Controller

FAQ

Why did Zevra Therapeutics (ZVRA) file this Form 8-K?

The filing reports that Chief Financial Officer and Treasurer R. LaDuane Clifton has decided to resign from Zevra Therapeutics, Inc., effective December 31, 2025, and outlines the key terms of his Separation Agreement.

When is the Zevra Therapeutics (ZVRA) CFO resignation effective?

Zevra stated that Chief Financial Officer R. LaDuane Clifton notified the company of his decision to resign on November 20, 2025, and that his resignation will be effective on December 31, 2025.

What separation benefits will the ZVRA CFO receive under his agreement?

Under the Separation Agreement, Mr. Clifton will receive 12 months of his annual base salary, an annual bonus equal to 40% of his base salary, up to 12 months of company-paid COBRA coverage, and full vesting of his outstanding equity awards after his separation date.

Are there any conditions tied to the Zevra CFO’s separation benefits?

Yes. Zevra disclosed that the payments and benefits under the Separation Agreement are contingent on Mr. Clifton’s continued compliance with non-disparagement, confidentiality, non-competition, and non-solicitation covenants.

Is Zevra Therapeutics (ZVRA) searching for a new CFO?

Zevra stated that it has commenced a search process to identify a new chief financial officer following Mr. Clifton’s planned resignation effective December 31, 2025.

Did Zevra issue a press release about the CFO resignation?

Yes. Zevra reported that it issued a press release on November 20, 2025 announcing the matters related to the CFO resignation, and it attached this press release as Exhibit 99.1 to the report.