Reviva Pharmaceuticals (NASDAQ: RVPH) Approves Compensation Arrangements for Executive Officers

Reviva Pharmaceuticals Holdings, Inc. recently disclosed in a FORM 8-K filing with the Securities and Exchange Commission that on February 13, 2025, the Compensation Committee of the Board of Directors approved various compensation arrangements for key executives of the Company.

The approved compensation arrangements are as follows:

1. **Base Salary Adjustments**: The Compensation Committee sanctioned an increase in base salaries for the named executive officers, including Dr. Laxminarayan Bhat, the President and Chief Executive Officer of the Company, Narayan Prabhu, the Chief Financial Officer, and Ms. Seema Bhat, the Vice President for Program & Portfolio Management. Dr. Bhat’s base salary was increased to $565,000, Mr. Prabhu’s to $330,000, and Ms. Bhat’s to $340,000, with these adjustments being effective retroactively from January 1, 2025.

2. **2024 Bonus Determinations**: Cash bonus payments for fiscal year 2024 were approved by the Compensation Committee. Dr. Bhat was awarded a $157,500 bonus, Mr. Prabhu a $79,950 bonus, and Ms. Bhat a $77,500 bonus.

3. **2025 Bonus Target Eligibility**: The Compensation Committee set target levels for discretionary 2025 bonuses for Dr. Bhat, Mr. Prabhu, and Ms. Bhat, based on a percentage of their base salaries, subject to certain established criteria.

4. **Option Grants**: The Compensation Committee also greenlighted option grants under the Company’s 2020 Equity Incentive Plan. Dr. Bhat was granted an option to purchase 519,000 shares of Common Stock, Mr. Prabhu 194,250 shares, and Ms. Bhat 181,500 shares. The exercise price for these options is $1.80 per share, tied to the closing price of the Company’s Common Stock on February 13, 2025.

Additionally, each option award will vest over a period from March 2025 through December 2027, with approximately 42% of the shares vesting immediately upon the grant date.

This move signifies Reviva Pharmaceuticals’ commitment to rewarding and incentivizing its executive team for their contributions to the Company’s growth and success.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Reviva Pharmaceuticals’s 8K filing here.

About Reviva Pharmaceuticals

Reviva Pharmaceuticals Holdings, Inc, a biopharmaceutical company, discovers, develops, and commercializes next-generation therapeutics for diseases targeting unmet medical needs in the areas of central nervous system, respiratory, inflammatory, and cardiometabolic diseases. The company's lead product candidate comprises brilaroxazine (RP5063) for the treatment of various neuropsychiatric indications, including schizophrenia, bipolar disorder, major depressive disorder, attentiondeficit/hyperactivity disorder, behavioral and psychotic symptoms of dementia and Alzheimer's disease, and Parkinson's disease psychosis; in clinical development respiratory indications, such as pulmonary arterial hypertension and idiopathic pulmonary fibrosis; and in preclinical development for the treatment of psoriasis.