Spectrum Pharma Picks New CFO

Spectrum Pharmaceuticals (NASDAQ: SPPI  ) has found itself a new Executive Vice President, a new Chief Financial Officer, and a new Principal Accounting Officer. They're all the same person.

On Wednesday, Spectrum announced that Senior Vice President, Principal Accounting Officer, and acting Chief Financial Officer Brett Scott has shifted over to become Senior Vice President of Finance. Taking his place in the other jobs is Kurt Gustafson, whom Spectrum has hired away from his old job as CFO of Halozyme Therapeutics.

In a related SEC filing, Spectrum said it will be paying Gustafson an annual base salary of $450,000, plus:

  • An annual bonus of up to 50% of base salary.
  • 250,000 stock options vesting over four years.
  • 100,000 shares of restricted stock -- also vesting over four years.
  • An annual $12,000 car allowance.

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