Business Context and Reporting Period
This Form 8-K Current Report was filed by Insulet Corporation on October 14, 2008, with the report date of October 20, 2008. The filing addresses corporate governance changes, specifically the resignation of a director and the appointment of a new director.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on personnel changes and does not contain financial performance data.
Material Changes
- Resignation: Alison de Bord resigned from the Board of Directors effective immediately on October 14, 2008. The resignation was not the result of any disagreement with the Company. She had served since 2004 and was a member of the Nominating and Corporate Governance Committee.
- Appointment: Sally W. Crawford was appointed as a Class I director effective October 17, 2008, with a term expiring at the 2011 annual meeting. She was also appointed to the Compensation Committee.
Compensatory Arrangements and Outlook
Ms. Crawford will receive standard non-employee director compensation, including:
- An annual retainer of $25,000.
- A non-qualified option to purchase 9,520 shares of common stock.
- Vesting Schedule: 50% vests on the first anniversary of the grant date, with an additional 25% vesting on each of the next two anniversaries, subject to continued service.
- Exercise Price: Equal to the fair market value on the date of grant.
The filing does not contain management commentary on business outlook, risks, contingencies, or unusual items beyond the personnel changes.
Investor Verification Checklist
- Verify the effective date of Alison de Bord's resignation (October 14, 2008).
- Confirm Sally W. Crawford's appointment date and committee assignments (October 17, 2008; Compensation Committee).
- Review the specific terms of the stock option grant (9,520 shares, 3-year vesting schedule).
- Check the attached Press Release (Exhibit 99.1) for additional context on the appointment.