Business Context and Reporting Period
This Form 8-K Current Report was filed by Senseonics Holdings, Inc. on January 20, 2017. The filing addresses a corporate governance event regarding the appointment of a senior executive officer.
Key Financial Metrics
The filing does not provide financial data such as revenue, profit, cash flow, margins, debt, or liquidity. The report focuses exclusively on executive compensation and appointment details.
Material Changes
The primary material change reported is the promotion of Mukul Jain, Ph.D., to Chief Operating Officer and Principal Operating Officer, effective immediately on January 20, 2017. Associated compensation changes include:
- Base Salary: Increased to $376,000 annually.
- Bonus: Annual target bonus opportunity set at 50% of base salary for 2017.
- Equity Grant: Option to purchase 314,212 shares of common stock, vesting monthly over four years contingent on continuous service.
No other material contracts or compensatory arrangements were modified or entered into.
Guidance, Outlook, and Risks
The filing contains no management commentary regarding business outlook, financial guidance, risks, contingencies, or unusual items. It strictly discloses the executive appointment and related compensation terms as required by Item 5.02.
Investor Verification Checklist
- Verify the vesting schedule and performance conditions for the 314,212 stock options granted to Dr. Jain.
- Review the Company's Form S-1 (File No. 333-208984) for additional background on Dr. Jain's qualifications and prior disclosures.
- Confirm that no other undisclosed compensatory arrangements exist for Dr. Jain under Item 404(a) of Regulation S-K.