Insulet Corporation Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Insulet Corporation on January 10, 2011. The filing reports the appointment of a new executive officer and details the associated compensatory arrangements.
Key Financial Metrics
The filing does not provide revenue, profit, cash flow, margin, debt, or liquidity metrics. The document focuses exclusively on personnel changes and compensation terms.
Material Changes
On January 10, 2011, the Board of Directors appointed Charles Liamos as Chief Operating Officer (COO). Mr. Liamos, 51, had previously served as a Director of the Company since 2005. He brings extensive experience from MedVenture Associates, FoviOptics, TheraSense (acquired by Abbott Laboratories), and LifeScan (Johnson & Johnson).
Compensation and Arrangements
- Base Salary: $350,000 annually.
- Equity Grant: Options to purchase 200,000 shares of common stock and 100,000 restricted share units, granted on the start date.
- Benefits: Participation in the executive bonus plan, Amended and Restated Executive Severance Plan, and other standard executive benefit plans.
- Relocation: Reimbursement for temporary living and relocation expenses to New England.
- Board Role: Mr. Liamos will continue to serve on the Company's Board of Directors.
The filing states there are no family relationships between Mr. Liamos and other directors or officers, and no undisclosed transactions exceeding $120,000 have occurred since the beginning of the last fiscal year.
Investor Verification Checklist
- Verify the terms of the Offer Letter attached as Exhibit 10.1 for specific vesting schedules and conditions.
- Review the press release (Exhibit 99.1) for strategic context regarding the appointment.
- Confirm Mr. Liamos' continued status as a Director and any potential conflicts of interest with his role at MedVenture Associates.
- Check subsequent filings for the actual start date and any adjustments to the compensation package.