IRADIMED CORP Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by IRADIMED CORPORATION on June 28, 2016. The report discloses a corporate governance event regarding the appointment of a new director to the Board of Directors.
Key Financial Metrics
The filing does not provide financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on executive compensation and board appointments.
Material Changes
The material change reported is the appointment of Jonathan Kennedy to the Board of Directors. Mr. Kennedy will also serve as a member of the Audit Committee and the Compensation Committee.
Compensation and Governance Details
- Equity Grant: Mr. Kennedy received 7,374 Restricted Stock Units (RSUs) under the 2014 Equity Incentive Plan.
- Vesting Schedule: RSUs vest in three equal annual installments beginning on June 27, 2017.
- Cash Compensation: Total annual cash compensation is $47,500, structured as follows:
- $35,000 annual retainer as a board member.
- $7,500 for Audit Committee membership.
- $5,000 for Compensation Committee membership.
Investor Verification Checklist
- Verify the vesting schedule and performance conditions (if any) for the 7,374 RSUs granted to Jonathan Kennedy.
- Review the full text of the press release (Exhibit 99.1) for additional biographical details on Mr. Kennedy.
- Confirm the impact of this appointment on the composition of the Audit and Compensation Committees.