vTv Therapeutics Inc., a clinical-stage biopharmaceutical company, said on Friday in a securities filing after the market close that its newest board member Edward P. Taibi resigned on Sept. 30.

“Mr. Taibi did not resign as a result of any disagreement with the Company relating to the Company’s operations, policies or practices,” the 8-K filing with the Securities and Exchange Commission stated.

Taibi was appointed to the board on Aug. 31 and was slated to serve a term through the date of the next annual meeting of company stockholders, according to an 8-K from Sept. 1.

According to the filing announcing the appointment, Taibi would not receive any compensation because of his employment as an executive vice president with MacAndrews & Forbes, “a related party” to vTv Therapeutics. MacAndrews & Forbes is a diversified holding company owned by billionaire Ron Perelman. According to a 13-D filing from May, MacAndrews & Forbes is a significant shareholder in vTv Therapeutics, with 61.5 million shares.

Taibi is no longer listed on MacAndrews & Forbes website. The company did not respond to a request for comment.

Shares of vTv Therapeutics Inc (VTVT) rose 7 cents to close at $1.87 on Wednesday.