Stereotaxis, Inc. Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Stereotaxis, Inc. on February 9, 2007, covering events occurring on February 7, 2007. The filing primarily addresses corporate governance changes, specifically the election of a new director and the associated compensatory arrangements.
Key Financial Metrics
The filing does not provide comprehensive financial statements, revenue, profit, cash flow, or debt metrics. The only financial data disclosed relates to specific executive compensation:
- Annual Cash Stipend: $75,000 for consulting and advisory board services.
- Annual Educational Stipend: $40,000.
- Additional Educational Fees: $800 per hour for services exceeding 50 hours annually, capped at a total of $100,000 for educational services.
- Stock Option Grant: 15,000 shares at an exercise price of $10.24 per share.
Material Changes
The material change reported is the appointment of Dr. Eric N. Prystowsky as a Class I member of the Board of Directors to fill a vacancy. This appointment was accompanied by a new stock option grant and formalized his existing consulting relationship.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, financial outlook, or discussion of material risks and contingencies. It references a press release (Exhibit 99.1) for biographical details regarding the new director.
Investor Verification Checklist
- Verify the vesting schedule of the 15,000 stock options granted to Dr. Prystowsky (50% after one year, remainder monthly).
- Confirm the expiration date of the stock options (February 7, 2017).
- Review the attached press release (Exhibit 99.1) for full biographical details of the new director.
- Note that this filing does not contain updated financial performance data; refer to the most recent 10-K or 10-Q for financial status.