Business Context and Reporting Period
This Form 8-K was filed by Second Sight Medical Products, Inc. on January 23, 2019. The report addresses Item 5.02 regarding the approval of performance-based bonuses for executive and non-executive staff following the review of the company's 2018 performance. Note: The request metadata listed "Vivani Medical, Inc.", but the filing text explicitly identifies the registrant as Second Sight Medical Products, Inc.
Key Financial Metrics
The filing does not provide comprehensive financial statements, revenue, profit, cash flow, margins, debt, or liquidity metrics. The only financial data disclosed relates to specific bonus awards approved for named executive officers based on 2018 performance:
- Jonathan Will McGuire (President and CEO): $183,913.29
- John Blake (Chief Financial Officer): $66,049.32
- Pat Ryan (Chief Operating Officer): $29,494.16
Material Changes
The filing reports no material changes to the company's financial position or operations other than the execution of the 2018 bonus plan. The awards were determined based on the company's overall performance in 2018 and the achievement of individual milestones, target bonus amounts, and respective hire dates.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, outlook, management commentary on future strategy, or discussion of risks and contingencies. The document is strictly limited to the disclosure of the bonus awards.
Investor Verification Checklist
- Verify the registrant name is Second Sight Medical Products, Inc., not Vivani Medical, Inc.
- Confirm the total cash outflow for executive bonuses is approximately $279,457.
- Review the company's 2018 Annual Report (10-K) to understand the specific "targeted milestones" that triggered these bonuses.
- Check subsequent filings for any impact of these bonuses on the company's cash position or liquidity.