Business Context and Reporting Period
This Form 8-K Current Report was filed by Artivion, Inc. on August 6, 2025. The filing discloses significant changes in executive leadership, specifically the appointment of a new Chief Operating Officer and the announced retirement of the Chief Medical Officer.
Key Financial Metrics
This filing does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity metrics. The document focuses exclusively on personnel changes and associated compensation arrangements.
Material Changes
Appointment of Chief Operating Officer
- Effective Date: August 11, 2025.
- Appointee: Lance A. Berry, currently Executive Vice President, Chief Financial Officer, and Treasurer.
- Role Expansion: Mr. Berry will serve as Chief Operating Officer in addition to his existing roles as CFO and Treasurer.
- Background: Mr. Berry has served as CFO since December 2023. Previously, he held senior finance and operations roles at Wright Medical Group N.V. (2002–2020) and was a CPA at Arthur Andersen.
Retirement of Chief Medical Officer
- Effective Date: March 31, 2026.
- Departing Officer: Marshall S. Stanton, M.D., Senior Vice President, Clinical Research and Chief Medical Officer.
- Reason: Voluntary retirement; no disagreements with the Company regarding operations, policies, or clinical/legal matters.
- Transition: Dr. Stanton is expected to provide strategic advice and transition services for up to one year post-retirement, with terms currently being finalized.
Compensation and Management Commentary
Compensation for Lance A. Berry
- Base Salary: $540,000 annually.
- Cash Incentive: Target bonus of 70% of base salary, determined by the Compensation Committee.
- Equity Grant: Starting in 2026, a target equity grant valued at $2,250,000, split equally between Performance Share Units and Restricted Stock Units.
Management Commentary
The Board expressed gratitude to Dr. Stanton for nearly five years of service. The filing confirms no undisclosed arrangements or family relationships influenced Mr. Berry's appointment.
Investor Verification Checklist
- Verify the final terms of the transition agreement with Dr. Stanton, as they are not yet finalized.
- Monitor the 2026 equity grant process to confirm the allocation between Performance Share Units and Restricted Stock Units for Mr. Berry.
- Review future filings for the appointment of a successor to Dr. Stanton's role as Chief Medical Officer.
- Confirm that Mr. Berry's dual role as CFO and COO does not create conflicts of interest or operational bottlenecks.