Forward Pharma A/S layoffs, on the record
Every job cut, severance charge and restructuring Forward Pharma A/S reported in its annual reports, 2019 to 2021, quoted from the filings.
Job cuts, severance and restructuring
Our summaryTerminated certain employees in 2017, reversing previously recognized share-based compensation and recording an expense for former employees allowed to keep vested options.
Word for word“The amount disclosed for the year ended December 31, 2017 includes the effect of the reversal of previously recognized share-based compensation of $7.6 million in connection with the termination of certain employees as well as an expense of $2.7 million related to certain terminated employees being allowed to hold vested options.” 20-F for 2019
Our summaryRestructured its operations under the License Agreement by transferring assets, intellectual property and then the capital stock of a subsidiary to new entities.
Word for word“Under the terms of the License Agreement, the Company restructured its operations on June 30, 2017 whereby the Company transferred to Operations (a newly created and wholly-owned Danish limited liability company) certain assets and liabilities, including the legal and beneficial rights, title and interest to defined intellectual property, and Operations transferred the intellectual property to FWP IP (a newly created and wholly-owned Danish limited liability company).” 20-F for 2019
Our summaryThe company restructured its operations in 2017, transferring intellectual property to Operations and then to FWP IP, which was sold to HoldCo on November 22, 2017.
Word for word“HoldCo paid Operations ApS 336,000 DKK ($54,000 based on the December 31, 2017 exchange rate) as consideration for the capital stock of FWP IP.” 20-F for 2020
Our summaryThe company restructured its operations under the License Agreement, transferring certain assets and liabilities, including defined intellectual property, to a new wholly-owned subsidiary.
Word for word“Under the terms of the License Agreement, the Company restructured its operations on June 30, 2017 whereby the Company transferred to Operations (a wholly-owned Danish limited liability company of the Company created in 2017) certain assets and liabilities, including the legal and beneficial rights, title and interest to defined intellectual property, and Operations transferred the intellectual property to FWP IP (a wholly-owned Danish limited liability company of Operations created in 2017).” 20-F for 2021
Forward Pharma A/S has filed no restructuring notice (Form 8-K, Item 2.05) since 2016. Companies file one only for a cut they judge material, so many announced layoffs never appear as one. This page shows what the company reported to the SEC, not news reports or state layoff notices.
Read from Forward Pharma A/S’s annual reports (20-F for 2021, 20-F for 2020, 20-F for 2019) and the financial data it files with the SEC, as of 2022-04-08. Every quotation is word for word from the filing linked beside it; how these pages are built and checked. The full record is in its company data sheet.