Acorda Therapeutics Announces Departure of Two Board Members

Acorda Therapeutics, a biotechnology company based in New York, has reported the resignation of two members of its board of directors: Barry Greene and Catherine D. Strader, Ph.D. The news was announced in the company's Form 8-K filing with the Securities and Exchange Commission on August 23, 2021. Greene's resignation was effective immediately, while Strader's resignation also took effect immediately after notification on August 22, 2021. According to the filing, Greene's resignation was attributed to investor perception that he was over-boarded, given his service as the Chief Executive Officer of another public company. Strader, on the other hand, cited her inability to devote the necessary time and attention to board responsibilities due to other professional and personal interests.

Key Takeaways:

• Barry Greene resigned from the Acorda Therapeutics board of directors effective immediately on August 20, 2021, following a vote at the company's 2021 Annual Meeting of Stockholders on June 2, 2021.
• Greene's resignation was attributed to investor perception that he was over-boarded, serving on multiple public company boards in addition to his role as Chief Executive Officer of another public company.
• Catherine D. Strader, Ph.D., resigned from the Acorda Therapeutics board of directors effective immediately on August 22, 2021, citing her inability to devote the necessary time and attention to board responsibilities due to other professional and personal interests.
• Strader's resignation was not related to any disagreement with the company on matters such as operations, policies, or practices.
• The company expressed appreciation to both Greene and Strader for their dedicated service and significant contributions to the company since joining the board in 2007 and 2017, respectively.
• Acorda Therapeutics is a biotechnology company focused on developing and commercializing treatments and therapies for multiple sclerosis, Parkinson's disease, and other neurological disorders.
• The company's board of directors has accepted the resignations and will look to fill the vacant positions with new members.

Statistics:

• 2 board members resigned: Barry Greene and Catherine D. Strader, Ph.D.
• 5 years: duration of Barry Greene's board membership (2007-2021)
• 4 years: duration of Catherine D. Strader's board membership (2017-2021)
• June 2, 2021: date of the company's 2021 Annual Meeting of Stockholders where Greene's re-election vote was held
• August 20, 2021: date when Greene's resignation took effect
• August 22, 2021: date when Strader's resignation took effect

Sources:

• 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): August 20, 2021