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ZS PHARMA, INC. FILES (8-K) Disclosing Change in Directors or Principal Officers

June 24, 2014

Item 5.02. Departure of Directors or Certain Officers; Election of Directors;

Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On June 23, 2014, Srinivas Akkaraju was appointed as an independent director on the board of directors of ZS Pharma, Inc. (the "Company"). Dr. Akkaraju will also serve on the Company's compensation committee.

Dr. Akkaraju was not elected pursuant to any arrangement or understanding with the Company or any affiliate of the Company. Sofinnova Venture Partners VIII, L.P. purchased 84,455 shares of the Company's common stock in its Series D Preferred Stock Financing in February 2014 for $1,136,363.78 and 525,000 shares of the Company's common stock in the Company's initial public offering in June 2014 for $9,450,000. Dr. Akkaraju is a managing member of Sofinnova Management VIII, L.L.C., the general partner of Sofinnova Venture Partners VIII, L.P. The Company entered into an indemnification agreement with Dr. Akkaraju, effective as of June 23, 2014, pursuant to which the Company agreed to indemnify Dr. Akkaraju for certain claims and liabilities arising from Dr. Akkaraju's actions as a director of the Company.


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Source: Edgar Glimpses

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