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STATES</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-size:11pt;font-weight:bold;">SECURITIES AND EXCHANGE COMMISSION</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-size:11pt;font-weight:bold;">Washington, DC 20549</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 6pt 0pt;"><span style="font-size:11pt;">_______________</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:14pt;text-align:center;margin:0pt 0pt 6pt 0pt;"><b style="font-weight:bold;">FORM </b><ix:nonNumeric contextRef="Duration_12_23_2021_To_12_23_2021_gbEF0vOoc0CRJSXLtUzJoA" name="dei:DocumentType" id="Narr_LWiQx0hcb0Wljf4BNh2RRg"><b style="font-weight:bold;">8-K</b></ix:nonNumeric></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-size:11pt;font-weight:bold;">CURRENT REPORT</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-size:11pt;font-weight:bold;">Pursuant to Section 13 or 15(d) of the</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 6pt 0pt;"><b style="font-size:11pt;font-weight:bold;">Securities Exchange Act of 1934</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 18pt 0pt;"><b style="font-weight:bold;">Date of report (Date of earliest event reported): December 28, 2021 (</b><ix:nonNumeric contextRef="Duration_12_23_2021_To_12_23_2021_gbEF0vOoc0CRJSXLtUzJoA" format="ixt:datemonthdayyearen" name="dei:DocumentPeriodEndDate" id="Narr_Tbyz4W2oIUS8UR6K7Xrb4A"><b style="font-weight:bold;">December 23, 2021</b></ix:nonNumeric><b style="font-weight:bold;">)</b></p><p style="font-family:'Times New 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(&#167;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&#167;240.12b-2 of this chapter).</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;padding-bottom:3pt;padding-top:0pt;text-indent:36pt;margin:0pt;"><span style="font-size:9pt;">Emerging growth company </span><ix:nonNumeric contextRef="Duration_12_23_2021_To_12_23_2021_gbEF0vOoc0CRJSXLtUzJoA" format="ixt-sec:boolballotbox" name="dei:EntityEmergingGrowthCompany" id="Narr_l9NXhp70_UKLmAw58eY7MA"><span style="font-family:'Segoe UI Symbol';font-size:9pt;">&#9746;</span></ix:nonNumeric></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:9pt;">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. </span><ix:nonNumeric contextRef="Duration_12_23_2021_To_12_23_2021_gbEF0vOoc0CRJSXLtUzJoA" format="ixt-sec:boolballotbox" name="dei:EntityExTransitionPeriod" id="Narr_TJnsi3EnpkWqYpKoFEyTWw"><span style="font-family:'Segoe UI Symbol';font-size:9pt;">&#9746;</span></ix:nonNumeric></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:9pt;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:9pt;visibility:hidden;">&#8203;</span></p></div></div>
<div style="background-color:#000000;clear:both;height:2pt;page-break-after:always;width:79.3%;border:0;margin:30pt 10.35% 30pt 10.35%;"></div><div style="max-width:100%;padding-left:10.35%;padding-right:10.35%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">&#8203;</span></p><a id="_07dc4caa_ed3f_483e_bfb4_89bb5a619d51"></a><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;"><b style="font-weight:bold;">Item 5.02. &#160;</b><b style="font-weight:bold;">Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:40.8pt;margin:0pt 0pt 12pt 0pt;">On December 23, 2021, the Board of Directors (the &#8220;Board&#8221;) of Gain Therapeutics, Inc. (the &#8220;Company&#8221;) approved the Gain Therapeutics, Inc. 2021 Inducement Equity Incentive Plan (the &#8220;2021 Inducement Plan). The terms of the 2021 Inducement Plan are substantially similar to the terms of the Company&#8217;s 2020 Omnibus Incentive Plan with the exception that awards under the Inducement Plan may only be issued to eligible recipients under the applicable NASDAQ rules. The 2021 Inducement Plan was adopted by the Board without stockholder approval pursuant to Rule 5635(c)(4) of the NASDAQ Listing Rules.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:40.8pt;margin:0pt 0pt 12pt 0pt;">The Board has initially reserved 1,000,000 shares of the Company&#8217;s common stock for issuance pursuant to awards granted under the 2021 Inducement Plan. In accordance with Rule 5635(c)(4) of the NASDAQ Listing Rules, awards under the 2021 Inducement Plan may only be made to an employee who has not previously been an employee or member of the board of directors of the Company or any parent or subsidiary, or following a bona fide period of non-employment by the Company or a parent or subsidiary, if he or she is granted such award in connection with his or her commencement of employment with the Company or a subsidiary and such grant is an inducement material to his or her entering into employment with the Company or such subsidiary.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:40.8pt;margin:0pt 0pt 12pt 0pt;">A complete copy of the 2021 Inducement Plan and the form of Stock Option Agreement to be used thereunder is filed herewith as Exhibit 10.1 and Exhibit 10.2, respectively, and incorporated herein by reference. The above summary of the 2021 Inducement Plan does not purport to be complete and is qualified in its entirety by reference to such exhibits.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:40.8pt;margin:0pt 0pt 12pt 0pt;">On December 28, 2021, the Company announced that Matthias Alder, its Chief Operating Officer, was granted an option to purchase 200,000 shares of&#160;the&#160;Company&#8217;s&#160;common stock and 200,000&#160;restricted stock units of&#160;the Company&#8217;s common stock. These awards were granted under the 2021 Inducement Plan, with a grant date of December&#160;23, 2021, as an inducement material to&#160;Mr. Alder to&#160;enter&#160;into&#160;an&#160;employment with&#160;the Company, in accordance with Nasdaq Listing Rule 5635(c)(4).&#160; </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:40.8pt;margin:0pt 0pt 12pt 0pt;">The&#160;stock options&#160;vest over four years, with&#160;one-fourth (1/4th) of the&#160;shares subject to the&#160;option vesting&#160;on the first anniversary of&#160;Mr. Alder&#8217;s employment start date&#160;(the &#8220;Initial Vesting Date&#8221;) and the remaining three-fourths (3/4ths) of the&#160;shares subject to the&#160;option vesting&#160;in a series of thirty-six (36) successive equal monthly installments on each subsequent monthly anniversary of the Initial Vesting Date, subject to Mr. Alder&#8217;s being continuously employed by the Company as of such vesting dates. The stock options have a ten-year term and an exercise price of $5.86&#160;per share, equal to the per share closing price of&#160;the Company&#8217;s common stock on December&#160;22, 2021. The&#160;restricted stock units vest&#160;on specified performance conditions based on the achievement of business development targets and clinical development targets.&#160; <span style="background:#ffffff;">The press release is filed as Exhibit 99.1 to this Form 8-K and is incorporated by reference herein.</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:40.8pt;margin:0pt 0pt 12pt 0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:22.15pt;padding-left:36pt;text-indent:-36pt;margin:0pt;"><b style="font-weight:bold;white-space:pre-wrap;">Item 9.01.  Financial Statements and Exhibits.</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:22.15pt;margin:0pt;"><span style="white-space:pre-wrap;"> (d) </span><span style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Exhibits</span>.</p><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:12.32%;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:top;width:4.98%;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">&#8203;</span></p></div></div></td><td style="vertical-align:top;width:82.69%;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td></tr><tr><td style="vertical-align:top;width:12.32%;border-bottom:1px solid #000000;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;line-height:8.3pt;text-align:justify;margin:10.69pt 0pt 0pt 0pt;"><b style="font-weight:bold;">Exhibit No.</b></p></td><td style="vertical-align:top;width:4.98%;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:8.3pt;text-align:center;margin:10.69pt 0pt 0pt 0pt;"><span style="font-size:8.3pt;font-weight:bold;visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:82.69%;border-bottom:1px solid #000000;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;line-height:8.3pt;text-align:center;margin:10.69pt 0pt 0pt 0pt;"><b style="font-weight:bold;">Description</b></p></td></tr><tr><td style="vertical-align:top;width:12.32%;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:11.2pt;margin:1.29pt 0pt 0pt 0pt;">10.1</p></td><td style="vertical-align:top;width:4.98%;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:11.2pt;margin:1.29pt 0pt 0pt 0pt;"><span style="font-size:11.2pt;text-decoration-line:underline;text-decoration-style:solid;visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:82.69%;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:11.2pt;text-align:justify;margin:1.29pt 0pt 0pt 0pt;"><a style="-sec-extract:exhibit;font-family:&quot;'Times New Roman','Times','serif'&quot;;" href="ganx-20211223xex10d1.htm"><span style="font-family:'Times New Roman','Times','serif';font-style:normal;font-weight:normal;">Gain Therapeutics, Inc. 2021 Inducement Equity Incentive Plan</span></a></p></td></tr><tr><td style="vertical-align:top;width:12.32%;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:11.2pt;margin:1.29pt 0pt 0pt 0pt;">10.2</p></td><td style="vertical-align:top;width:4.98%;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:11.2pt;margin:1.29pt 0pt 0pt 0pt;"><span style="font-size:11.2pt;text-decoration-line:underline;text-decoration-style:solid;visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:82.69%;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:11.2pt;text-align:justify;margin:1.29pt 0pt 0pt 0pt;"><a style="-sec-extract:exhibit;font-family:&quot;'Times New Roman','Times','serif'&quot;;" href="ganx-20211223xex10d2.htm"><span style="font-family:'Times New Roman','Times','serif';font-style:normal;font-weight:normal;">Form of Stock Option Agreement under the 2021 Inducement Plan</span></a></p></td></tr><tr><td style="vertical-align:top;width:12.32%;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:11.2pt;margin:1.29pt 0pt 0pt 0pt;">99.1</p></td><td style="vertical-align:top;width:4.98%;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:11.2pt;margin:1.29pt 0pt 0pt 0pt;"><span style="font-size:11.2pt;text-decoration-line:underline;text-decoration-style:solid;visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:82.69%;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:11.2pt;text-align:justify;margin:1.29pt 0pt 0pt 0pt;"><a style="-sec-extract:exhibit;font-family:&quot;'Times New Roman','Times','serif'&quot;;" href="ganx-20211223xex99d1.htm"><span style="font-family:'Times New Roman','Times','serif';font-style:normal;font-weight:normal;">Press release issued by the Company on December 28, 2021</span></a></p></td></tr><tr><td style="vertical-align:top;width:12.32%;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:10.4pt;margin:0pt;">104</p></td><td style="vertical-align:top;width:4.98%;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:10.4pt;margin:0pt;"><span style="font-size:10.4pt;visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:82.69%;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:11.2pt;margin:1.29pt 0pt 0pt 0pt;">Cover Page Interactive Date File (embedded within the Inline XBRL document)</p></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:11pt;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.5pt 0pt;"><span style="visibility:hidden;">&#8203;</span></p></div></div>
<div style="background-color:#000000;clear:both;height:2pt;page-break-after:always;width:79.3%;border:0;margin:30pt 10.35% 30pt 10.35%;"></div><div style="max-width:100%;padding-left:10.35%;padding-right:10.35%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 1.64pt 0pt;"><span style="visibility:hidden;">&#8203;</span></p><a id="_90200298_7993_4bf6_927d_f710e4f2ce4c"></a><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 12pt 0pt;"><b style="font-weight:bold;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">SIGNATURE</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:25.2pt;margin:0pt 0pt 12pt 0pt;">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.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:100%;"><tr><td style="vertical-align:top;width:50.01%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td><td colspan="3" style="vertical-align:top;width:49.98%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-weight:bold;">GAIN THERAPEUTICS, INC.</b></p></td></tr><tr><td style="vertical-align:top;width:50.01%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td><td colspan="3" style="vertical-align:top;width:49.98%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td></tr><tr><td style="vertical-align:top;width:50.01%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:3.84%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">By:</p></td><td colspan="2" style="vertical-align:top;width:46.14%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">/s/ Eric I Richman</p></td></tr><tr><td style="vertical-align:top;width:50.01%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td><td colspan="2" style="vertical-align:top;width:6.55%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Name:</p></td><td style="vertical-align:top;width:43.43%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Eric I. Richman</p></td></tr><tr><td style="vertical-align:top;width:50.01%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td><td colspan="2" style="vertical-align:top;width:6.55%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Title:</p></td><td style="vertical-align:top;width:43.43%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Chief Executive Officer</p></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 4.55pt 0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 4.55pt 0pt;">Date: December 28, 2021</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 6.09pt 0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-weight:bold;visibility:hidden;">&#8203;</span></p></div></div>
<div style="background-color:#000000;clear:both;height:2pt;margin-left:10.35%;margin-right:10.35%;margin-top:30pt;page-break-after:avoid;width:79.3%;border:0;"></div></body></html>
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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): December 28, 2021 (
December 23, 2021
)
Gain Therapeutics, Inc.
(Exact Name of the Registrant as Specified in Charter)
​
​
​
​
​
​
Delaware
001-40237
85-1726310
(State or Other Jurisdiction
of Incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)
​
4800 Montgomery Lane
,
Suite 220
Bethesda
,
Maryland
20814
(
Address of principal executive offices)
(Zip Code)
​
(
301
)
500-1556
(Registrant's telephone number, including area code)
​
(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:
☐
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 exchange on which registered
Common Stock, $0.0001 par value
GANX
NASDAQ Global 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 December 23, 2021, the Board of Directors (the "Board") of Gain Therapeutics, Inc. (the "Company") approved the Gain Therapeutics, Inc. 2021 Inducement Equity Incentive Plan (the "2021 Inducement Plan). The terms of the 2021 Inducement Plan are substantially similar to the terms of the Company's 2020 Omnibus Incentive Plan with the exception that awards under the Inducement Plan may only be issued to eligible recipients under the applicable NASDAQ rules. The 2021 Inducement Plan was adopted by the Board without stockholder approval pursuant to Rule 5635(c)(4) of the NASDAQ Listing Rules.
The Board has initially reserved 1,000,000 shares of the Company's common stock for issuance pursuant to awards granted under the 2021 Inducement Plan. In accordance with Rule 5635(c)(4) of the NASDAQ Listing Rules, awards under the 2021 Inducement Plan may only be made to an employee who has not previously been an employee or member of the board of directors of the Company or any parent or subsidiary, or following a bona fide period of non-employment by the Company or a parent or subsidiary, if he or she is granted such award in connection with his or her commencement of employment with the Company or a subsidiary and such grant is an inducement material to his or her entering into employment with the Company or such subsidiary.
A complete copy of the 2021 Inducement Plan and the form of Stock Option Agreement to be used thereunder is filed herewith as Exhibit 10.1 and Exhibit 10.2, respectively, and incorporated herein by reference. The above summary of the 2021 Inducement Plan does not purport to be complete and is qualified in its entirety by reference to such exhibits.
On December 28, 2021, the Company announced that Matthias Alder, its Chief Operating Officer, was granted an option to purchase 200,000 shares of the Company's common stock and 200,000 restricted stock units of the Company's common stock. These awards were granted under the 2021 Inducement Plan, with a grant date of December 23, 2021, as an inducement material to Mr. Alder to enter into an employment with the Company, in accordance with Nasdaq Listing Rule 5635(c)(4).
The stock options vest over four years, with one-fourth (1/4th) of the shares subject to the option vesting on the first anniversary of Mr. Alder's employment start date (the "Initial Vesting Date") and the remaining three-fourths (3/4ths) of the shares subject to the option vesting in a series of thirty-six (36) successive equal monthly installments on each subsequent monthly anniversary of the Initial Vesting Date, subject to Mr. Alder's being continuously employed by the Company as of such vesting dates. The stock options have a ten-year term and an exercise price of $5.86 per share, equal to the per share closing price of the Company's common stock on December 22, 2021. The restricted stock units vest on specified performance conditions based on the achievement of business development targets and clinical development targets.
The press release is filed as Exhibit 99.1 to this Form 8-K and is incorporated by reference herein.
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Item 9.01.  Financial Statements and Exhibits.
(d)
Exhibits
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Exhibit No.
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Description
10.1
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Gain Therapeutics, Inc. 2021 Inducement Equity Incentive Plan
10.2
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Form of Stock Option Agreement under the 2021 Inducement Plan
99.1
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Press release issued by the Company on December 28, 2021
104
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Cover Page Interactive Date File (embedded within the Inline XBRL document)
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SIGNATURE
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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GAIN THERAPEUTICS, INC.
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By:
/s/ Eric I Richman
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Name:
Eric I. Richman
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Title:
Chief Executive Officer
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Date: December 28, 2021
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