OPKO Health, Inc. Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by OPKO Health, Inc. (OPK) on July 24, 2024. The report details actions taken by the Compensation Committee of the Board of Directors during a meeting held on that date regarding executive compensation.
Key Financial Metrics
The filing does not provide revenue, profit, cash flow, margin, debt, or liquidity metrics. The document focuses exclusively on the grant of equity and cash bonuses to named executive officers.
Material Changes and Executive Compensation
The Compensation Committee approved the following grants to named executive officers:
- Restricted Stock Units (RSUs): Grants vest 50% on the second anniversary of the grant date, with the remainder vesting ratably over the following two years.
- Cash Bonuses: One-time bonus payments approved for the fiscal period.
| Officer Name | Title | RSUs Granted | Bonus Amount |
|---|---|---|---|
| Phillip Frost, M.D. | CEO/Chairman | 500,000 | $480,000 |
| Jane H. Hsiao, Ph.D. | Vice Chairman/CTO | 500,000 | $450,000 |
| Elias A. Zerhouni, M.D. | Vice Chairman/President | 500,000 | $450,000 |
| Steven D. Rubin | EVP - Administration | 437,500 | $400,000 |
| Adam Logal | SVP/CFO | 437,500 | $475,000 |
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, management commentary on business outlook, or discussion of risks and contingencies. The document is strictly a disclosure of compensatory arrangements.
Key Facts for Investor Verification
- Total cash bonus payout to the five named officers is $2,255,000.
- Total RSUs granted to the five named officers is 2,312,500 shares.
- RSU vesting schedule is back-loaded, with 50% vesting on the second anniversary.
- The filing does not disclose the total number of shares outstanding or the current share price to calculate the total equity value.