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<P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES
AND EXCHANGE COMMISSION </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Washington, D.C. 20549 </B></P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:3.5pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000">&nbsp;</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>FORM <FONT
STYLE="white-space:nowrap">8-K</FONT> </B></P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:3.5pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000">&nbsp;</P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Current Report </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Pursuant
to Section&nbsp;13 or 15(d) </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>of the Securities Exchange Act of 1934 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Date of Report (Date of earliest event reported): January&nbsp;2, 2019 </B></P>
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<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>RETROPHIN, INC. </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Exact
name of registrant as specified in its charter) </B></P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:3.5pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000">&nbsp;</P>
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<TD VALIGN="top" ALIGN="center"><B>Delaware</B></TD>
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<TD VALIGN="top" ALIGN="center"><B><FONT STYLE="white-space:nowrap">001-36257</FONT></B></TD>
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<TD VALIGN="top" ALIGN="center"><B><FONT STYLE="white-space:nowrap">27-4842691</FONT></B></TD></TR>
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<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(State or other jurisdiction</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>of incorporation)</B></P></TD>
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<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Commission</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>File No.)</B></P></TD>
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<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(IRS Employer</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Identification No.)</B></P></TD></TR>
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<TD VALIGN="top" COLSPAN="3" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>3721 Valley Centre Drive, Suite 200</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>San Diego, CA</B></P></TD>
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<TD VALIGN="top" ALIGN="center"><B>92130</B></TD></TR>
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</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Registrant&#146;s telephone number, including area code: <FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">(760)-260-8600</FONT></FONT> </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Not Applicable </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Former name or former address, if changed since last report) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:3.5pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000">&nbsp;</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="justify">Check the appropriate box below if
the Form <FONT STYLE="white-space:nowrap">8-K</FONT> filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: </P>
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<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="justify">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </P></TD></TR></TABLE>
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<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="justify">Soliciting material pursuant to Rule <FONT STYLE="white-space:nowrap">14a-12</FONT> under the Exchange Act
(17 CFR <FONT STYLE="white-space:nowrap">240.14a-12)</FONT> </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="justify"><FONT STYLE="white-space:nowrap">Pre-commencement</FONT> communications pursuant to Rule <FONT
STYLE="white-space:nowrap">14d-2(b)</FONT> under the Exchange Act (17 CFR <FONT STYLE="white-space:nowrap">240.14d-2(b))</FONT> </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="justify"><FONT STYLE="white-space:nowrap">Pre-commencement</FONT> communications pursuant to Rule <FONT
STYLE="white-space:nowrap">13e-4(c)</FONT> under the Exchange Act (17 CFR <FONT STYLE="white-space:nowrap">240.13e-4(c))</FONT> </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="justify">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933
(&#167;230.405 of this chapter) or Rule <FONT STYLE="white-space:nowrap">12b-2</FONT> of the Securities Exchange Act of 1934 <FONT STYLE="white-space:nowrap">(&#167;240.12b-2</FONT> of this chapter). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Emerging growth company&nbsp;&nbsp;&#9744; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="justify">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&nbsp;13(a) of the Exchange
Act.&nbsp;&nbsp;&#9744; </P> <P STYLE="font-size:24pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>

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<TD WIDTH="12%" VALIGN="top" ALIGN="left"><B>Item&nbsp;5.02</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers;
Compensatory Arrangements of Certain Officers. </B></P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman" ALIGN="justify">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On July&nbsp;26, 2018, Retrophin, Inc. (the
&#147;<B><I>Company</I></B>&#148;) announced that Stephen Aselage, the Company&#146;s former Chief Executive Officer, planned to retire, with the effective date of his retirement being the start date of employment of a successor Chief Executive
Officer (the &#147;<B><I>Retirement Date</I></B>&#148;). Effective January&nbsp;4, 2019, the Company hired Eric Dube, Ph.D. as the Company&#146;s President and Chief Executive Officer, replacing Mr.&nbsp;Aselage. Mr.&nbsp;Aselage will continue to
serve as a member of the Company&#146;s Board of Directors (the &#147;<B><I>Board</I></B>&#148;). Mr.&nbsp;Aselage has been requested to continue on the Board due to his pharmaceutical business experience, including commercialization expertise,
leadership experience and depth of understanding of the Company&#146;s business. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman" ALIGN="justify">In connection with
Mr.&nbsp;Aselage&#146;s retirement and in consideration for providing transition services on an <FONT STYLE="white-space:nowrap">as-needed</FONT> basis, the Company and Mr.&nbsp;Aselage entered into a Retirement Agreement (the &#147;<B><I>Retirement
Agreement</I></B>&#148;), that modifies certain provisions of the Employment Agreement between the Company and Mr.&nbsp;Aselage, dated March&nbsp;2, 2015, as amended on April&nbsp;11, 2017 (the &#147;<B><I>Prior CEO Agreement</I></B>&#148;).
Pursuant to the Retirement Agreement, Mr.&nbsp;Aselage will receive the benefits set forth in Section&nbsp;6.5(b)(i), Section&nbsp;6.5(b)(ii) and Section&nbsp;6.5(c)(i) of the Prior CEO Agreement, and will remain eligible to receive an annual
incentive bonus payment for 2018. In addition, the Retirement Agreement provides that, in the event Mr.&nbsp;Aselage ceases to serve as a member of the Board prior to the <FONT STYLE="white-space:nowrap">18-month</FONT> anniversary of the Retirement
Date, (i)&nbsp;all outstanding stock awards with time-based vesting held by Mr.&nbsp;Aselage on the Retirement Date will be accelerated such that the amount of shares vested under such stock awards will equal that number of shares that would have
been vested if Mr.&nbsp;Aselage had continued to render continuous service to the Company for the 18 months immediately following the Retirement Date, and (ii)&nbsp;all outstanding stock awards with performance-based vesting held by Mr.&nbsp;Aselage
for which the relevant performance period ends within the <FONT STYLE="white-space:nowrap">18-month</FONT> period following the Retirement Date shall remain eligible for vesting during such <FONT STYLE="white-space:nowrap">18-month</FONT> period as
though Mr.&nbsp;Aselage had continued to render continuous service to the Company throughout such period, and such stock awards shall vest (if applicable) based on actual performance during such performance period. As a condition to the benefits
provided for in the Retirement Agreement, Mr.&nbsp;Aselage has agreed to execute a general release of claims against the Company. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman" ALIGN="justify">The foregoing description of the terms of the Retirement Agreement is qualified in its entirety by reference to the Retirement
Agreement, which will be filed by the Company as an exhibit to its Annual Report on Form <FONT STYLE="white-space:nowrap">10-K</FONT> for the year ended December&nbsp;31, 2018. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman" ALIGN="justify">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Effective January&nbsp;4, 2019, the Company hired Dr.&nbsp;Dube, age 46, as
the Company&#146;s President and Chief Executive Officer.&nbsp;A copy of the press release announcing the hiring of Dr.&nbsp;Dube is attached hereto as Exhibit 99.1. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman" ALIGN="justify">Prior to his employment with the Company, Dr.&nbsp;Dube served as the Head, North America of Viiv Healthcare Limited, a
pharmaceuticals company, since January 2018. From June 2015 to December 2017, Dr.&nbsp;Dube served as Sr. Vice President and Head, Global Respiratory Franchise of GlaxoSmithKline Pharmaceuticals plc (&#147;<B><I>GSK</I></B>&#148;), a pharmaceutical
company. From February 2013 to May 2015, Dr.&nbsp;Dube served as Senior Vice President and Business Unit Head, Respiratory Japan of GSK. Prior to that, Dr.&nbsp;Dube held senior leadership roles at GSK in Strategy, Planning&nbsp;&amp; Operations,
Oncology, Managed Markets and Marketing, and earlier in his career held other positions of increasing responsibility at GSK. Dr.&nbsp;Dube holds a B.S. from Santa Clara University and a M.A. and Ph.D. from Cornell University. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman" ALIGN="justify">In connection with Dr.&nbsp;Dube&#146;s hiring as the Company&#146;s President and Chief Executive Officer, the Company and
Dr.&nbsp;Dube entered into an Employment Agreement (the &#147;<B><I>Employment Agreement</I></B>&#148;). Pursuant to the terms of the Employment Agreement, Dr.&nbsp;Dube will receive an initial base salary of $625,000 per year, subject to annual
adjustment, plus a discretionary annual bonus with a bonus target currently set at 60% of his base salary. Dr.&nbsp;Dube was granted a stock option to purchase up to 400,000 shares of the Company&#146;s common stock (the
&#147;<B><I>Option</I></B>&#148;), <FONT STYLE="white-space:nowrap">one-fourth</FONT> of which will vest on the <FONT STYLE="white-space:nowrap">one-year</FONT> anniversary of the grant date and remaining three-fourths of which will vest over the
following three years in equal monthly installments. The Option has an exercise price equal to the closing price of the Company&#146;s common stock on the date of grant. Dr.&nbsp;Dube was granted a restricted stock unit award covering 50,000 shares
of the Company&#146;s common stock (the &#147;<B><I>Performance RSU Award</I></B>&#148;), which will vest upon the Company&#146;s achievement of specified regulatory and clinical development milestones; provided, however, that no portion of the
Performance RSU Award shall vest prior to the <FONT STYLE="white-space:nowrap">one-year</FONT> anniversary of the grant date. Dr.&nbsp;Dube was also granted a restricted stock unit award covering 50,000 shares of the Company&#146;s common stock (the
&#147;<B><I>Time-Based RSU Award</I></B>&#148;), <FONT STYLE="white-space:nowrap">one-fourth</FONT> of which will vest on each anniversary of the grant date. The Option, Performance RSU Award and Time-Based RSU Award are subject to the terms of the
Company&#146;s 2018 Equity Incentive Plan, but were granted outside of the 2018 Equity Incentive Plan. Dr.&nbsp;Dube is also entitled to receive a <FONT STYLE="white-space:nowrap">one-time</FONT> cash inducement advance in the amount of $100,000,
which will be deemed fully earned when Dr.&nbsp;Dube completes two full years of employment with the </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="justify">Company, and Dr.&nbsp;Dube will be reimbursed for relocation expenses pursuant to the
Company&#146;s Relocation Policy, and will receive health care coverage under the Company&#146;s medical, vision and dental plans, and can participate in the Company&#146;s 401(k) Plan. The Company will also enter into an indemnification agreement
with Dr.&nbsp;Dube. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman" ALIGN="justify">While Dr.&nbsp;Dube will be employed on an <FONT STYLE="white-space:nowrap">at-will</FONT> basis, the
Employment Agreement provides that in the event of his termination by the Company without cause or in the event of his termination due to a constructive termination, in exchange for a general release against the Company, Dr.&nbsp;Dube will be
entitled to severance benefits consisting of, among other things, (i)&nbsp;a cash compensation amount equal to his annual base salary plus annual target bonus, multiplied by 1.5, paid in equal installments over a period of 18 months,
(ii)&nbsp;payment of the cost of COBRA coverage for a period of up to 18 months and (iii)&nbsp;acceleration of the vesting of all outstanding stock awards such that the amount of shares vested under such stock awards equals the number of shares that
would have vested if Dr.&nbsp;Dube had continued to render services to the Company for 18 months following his separation from service. Additionally, in connection with a change in control of the Company, if Dr.&nbsp;Dube&#146;s employment with the
Company is terminated without cause or in the event of his termination due to a constructive termination, in exchange for a general release against the Company, Dr.&nbsp;Dube will be entitled to severance benefits consisting of, among other things,
(i)&nbsp;a cash compensation amount equal to his annual base salary plus annual target bonus, multiplied by 2, paid in a single <FONT STYLE="white-space:nowrap">lump-sum</FONT> amount, (ii)&nbsp;payment of the cost of COBRA coverage for a period of
up to 24 months and (iii)&nbsp;acceleration of the vesting of all outstanding stock awards such that all outstanding stock awards become fully vested. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman" ALIGN="justify">The foregoing description of the terms of the Employment Agreement is qualified in its entirety by reference to the Employment
Agreement, which will be filed by the Company as an exhibit to its Annual Report on Form <FONT STYLE="white-space:nowrap">10-K</FONT> for the year ended December&nbsp;31, 2018. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman" ALIGN="justify">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On January&nbsp;2, 2019, the Board approved an increase to the size of the
Board from eight to nine directors and appointed Dr.&nbsp;Dube to serve as a director of the Company, effective January&nbsp;4, 2019. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="9%" VALIGN="top" ALIGN="left"><B>Item&nbsp;9.01.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Financial Statements and Exhibits. </B></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="justify">(d) Exhibits. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1.00pt solid #000000; display:table-cell; font-size:8pt; font-family:Times New Roman; "><B>Number</B></P></TD>
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<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Description</B></P></TD></TR>


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<TD VALIGN="top" NOWRAP>99.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="d680702dex991.htm">Press Release of the Company dated January&nbsp;3, 2019. </A></TD></TR>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SIGNATURE </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="justify">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-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" COLSPAN="5"><B>RETROPHIN, INC.</B></TD></TR>
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<TD VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Date: January&nbsp;4, 2019</P></TD>
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<TD VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;By:&nbsp;&nbsp;&nbsp;&nbsp;</P></TD>
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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman" ALIGN="justify">/s/ Laura Clague</P></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="justify">Laura Clague</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="justify">Chief Financial Officer</P></TD></TR>
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[{"type": "8-K", "sequence": "1", "filename": "d680702d8k.htm", "description": "FORM 8-K", "secsgml_size_bytes": 26269}]
{"company-data": {"conformed-name": "Retrophin, Inc.", "cik": "0001438533", "assigned-sic": "2834", "irs-number": "262383102", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-36257", "film-number": "19507267"}, "business-address": {"street1": "3721 VALLEY CENTRE DR.", "street2": "SUITE 200", "city": "SAN DIEGO", "state": "CA", "zip": "92130", "phone": "760-260-8600"}, "mail-address": {"street1": "3721 VALLEY CENTRE DR.", "street2": "SUITE 200", "city": "SAN DIEGO", "state": "CA", "zip": "92130"}, "former-company": {"former-conformed-name": "Desert Gateway, Inc.", "date-changed": "20080625"}}
Form 8-K
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): January 2, 2019
RETROPHIN, INC.
(Exact
name of registrant as specified in its charter)
Delaware
001-36257
27-4842691
(State or other jurisdiction
of incorporation)
(Commission
File No.)
(IRS Employer
Identification No.)
3721 Valley Centre Drive, Suite 200
San Diego, CA
92130
(Address of principal executive offices)
(Zip Code)
Registrant's telephone number, including area code:
(760)-260-8600
Not Applicable
(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))
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.
(b)        On July 26, 2018, Retrophin, Inc. (the
"
Company
") announced that Stephen Aselage, the Company's former Chief Executive Officer, planned to retire, with the effective date of his retirement being the start date of employment of a successor Chief Executive
Officer (the "
Retirement Date
"). Effective January 4, 2019, the Company hired Eric Dube, Ph.D. as the Company's President and Chief Executive Officer, replacing Mr. Aselage. Mr. Aselage will continue to
serve as a member of the Company's Board of Directors (the "
Board
"). Mr. Aselage has been requested to continue on the Board due to his pharmaceutical business experience, including commercialization expertise,
leadership experience and depth of understanding of the Company's business.
In connection with
Mr. Aselage's retirement and in consideration for providing transition services on an
as-needed
basis, the Company and Mr. Aselage entered into a Retirement Agreement (the "
Retirement
Agreement
"), that modifies certain provisions of the Employment Agreement between the Company and Mr. Aselage, dated March 2, 2015, as amended on April 11, 2017 (the "
Prior CEO Agreement
").
Pursuant to the Retirement Agreement, Mr. Aselage will receive the benefits set forth in Section 6.5(b)(i), Section 6.5(b)(ii) and Section 6.5(c)(i) of the Prior CEO Agreement, and will remain eligible to receive an annual
incentive bonus payment for 2018. In addition, the Retirement Agreement provides that, in the event Mr. Aselage ceases to serve as a member of the Board prior to the
18-month
anniversary of the Retirement
Date, (i) all outstanding stock awards with time-based vesting held by Mr. Aselage on the Retirement Date will be accelerated such that the amount of shares vested under such stock awards will equal that number of shares that would have
been vested if Mr. Aselage had continued to render continuous service to the Company for the 18 months immediately following the Retirement Date, and (ii) all outstanding stock awards with performance-based vesting held by Mr. Aselage
for which the relevant performance period ends within the
18-month
period following the Retirement Date shall remain eligible for vesting during such
18-month
period as
though Mr. Aselage had continued to render continuous service to the Company throughout such period, and such stock awards shall vest (if applicable) based on actual performance during such performance period. As a condition to the benefits
provided for in the Retirement Agreement, Mr. Aselage has agreed to execute a general release of claims against the Company.
The foregoing description of the terms of the Retirement Agreement is qualified in its entirety by reference to the Retirement
Agreement, which will be filed by the Company as an exhibit to its Annual Report on Form
10-K
for the year ended December 31, 2018.
(c)        Effective January 4, 2019, the Company hired Dr. Dube, age 46, as
the Company's President and Chief Executive Officer. A copy of the press release announcing the hiring of Dr. Dube is attached hereto as Exhibit 99.1.
Prior to his employment with the Company, Dr. Dube served as the Head, North America of Viiv Healthcare Limited, a
pharmaceuticals company, since January 2018. From June 2015 to December 2017, Dr. Dube served as Sr. Vice President and Head, Global Respiratory Franchise of GlaxoSmithKline Pharmaceuticals plc ("
GSK
"), a pharmaceutical
company. From February 2013 to May 2015, Dr. Dube served as Senior Vice President and Business Unit Head, Respiratory Japan of GSK. Prior to that, Dr. Dube held senior leadership roles at GSK in Strategy, Planning & Operations,
Oncology, Managed Markets and Marketing, and earlier in his career held other positions of increasing responsibility at GSK. Dr. Dube holds a B.S. from Santa Clara University and a M.A. and Ph.D. from Cornell University.
In connection with Dr. Dube's hiring as the Company's President and Chief Executive Officer, the Company and
Dr. Dube entered into an Employment Agreement (the "
Employment Agreement
"). Pursuant to the terms of the Employment Agreement, Dr. Dube will receive an initial base salary of $625,000 per year, subject to annual
adjustment, plus a discretionary annual bonus with a bonus target currently set at 60% of his base salary. Dr. Dube was granted a stock option to purchase up to 400,000 shares of the Company's common stock (the
"
Option
"),
one-fourth
of which will vest on the
one-year
anniversary of the grant date and remaining three-fourths of which will vest over the
following three years in equal monthly installments. The Option has an exercise price equal to the closing price of the Company's common stock on the date of grant. Dr. Dube was granted a restricted stock unit award covering 50,000 shares
of the Company's common stock (the "
Performance RSU Award
"), which will vest upon the Company's achievement of specified regulatory and clinical development milestones; provided, however, that no portion of the
Performance RSU Award shall vest prior to the
one-year
anniversary of the grant date. Dr. Dube was also granted a restricted stock unit award covering 50,000 shares of the Company's common stock (the
"
Time-Based RSU Award
"),
one-fourth
of which will vest on each anniversary of the grant date. The Option, Performance RSU Award and Time-Based RSU Award are subject to the terms of the
Company's 2018 Equity Incentive Plan, but were granted outside of the 2018 Equity Incentive Plan. Dr. Dube is also entitled to receive a
one-time
cash inducement advance in the amount of $100,000,
which will be deemed fully earned when Dr. Dube completes two full years of employment with the
Company, and Dr. Dube will be reimbursed for relocation expenses pursuant to the
Company's Relocation Policy, and will receive health care coverage under the Company's medical, vision and dental plans, and can participate in the Company's 401(k) Plan. The Company will also enter into an indemnification agreement
with Dr. Dube.
While Dr. Dube will be employed on an
at-will
basis, the
Employment Agreement provides that in the event of his termination by the Company without cause or in the event of his termination due to a constructive termination, in exchange for a general release against the Company, Dr. Dube will be
entitled to severance benefits consisting of, among other things, (i) a cash compensation amount equal to his annual base salary plus annual target bonus, multiplied by 1.5, paid in equal installments over a period of 18 months,
(ii) payment of the cost of COBRA coverage for a period of up to 18 months and (iii) acceleration of the vesting of all outstanding stock awards such that the amount of shares vested under such stock awards equals the number of shares that
would have vested if Dr. Dube had continued to render services to the Company for 18 months following his separation from service. Additionally, in connection with a change in control of the Company, if Dr. Dube's employment with the
Company is terminated without cause or in the event of his termination due to a constructive termination, in exchange for a general release against the Company, Dr. Dube will be entitled to severance benefits consisting of, among other things,
(i) a cash compensation amount equal to his annual base salary plus annual target bonus, multiplied by 2, paid in a single
lump-sum
amount, (ii) payment of the cost of COBRA coverage for a period of
up to 24 months and (iii) acceleration of the vesting of all outstanding stock awards such that all outstanding stock awards become fully vested.
The foregoing description of the terms of the Employment Agreement is qualified in its entirety by reference to the Employment
Agreement, which will be filed by the Company as an exhibit to its Annual Report on Form
10-K
for the year ended December 31, 2018.
(d)        On January 2, 2019, the Board approved an increase to the size of the
Board from eight to nine directors and appointed Dr. Dube to serve as a director of the Company, effective January 4, 2019.
Item 9.01.
Financial Statements and Exhibits.
(d) Exhibits.
Exhibit
Number
Description
99.1
Press Release of the Company dated January 3, 2019.
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.
RETROPHIN, INC.
Date: January 4, 2019
By:
/s/ Laura Clague
Laura Clague
Chief Financial Officer