Business Context and Reporting Period
This Form 8-K was filed by Integer Holdings Corp on November 4, 2022, reporting events occurring on November 2, 2022. The company is incorporated in Delaware and trades on the New York Stock Exchange under the symbol ITGR.
Key Financial Metrics
The filing does not provide revenue, profit, cash flow, margin, debt, or liquidity metrics. The report focuses exclusively on executive compensation arrangements.
Material Changes
On November 2, 2022, the Company awarded time-based restricted stock units (RSUs) to two key executives:
- Jason Garland (Chief Financial Officer): Awarded RSUs with a grant date fair value of $1,000,000.
- Payman Khales (President, Cardio & Vascular): Awarded RSUs with a grant date fair value of $1,000,000.
These grants vest annually in equal installments over three years under the 2021 Omnibus Incentive Plan.
Guidance, Outlook, and Management Commentary
Management stated that these grants recognize the leadership and contributions of the executives during their tenures. The primary objectives are to retain Messrs. Garland and Khales in their current positions and to incentivize them to drive future stock price growth. The filing contains no financial guidance, risk updates, or discussion of unusual items.
Investor Verification Checklist
- Verify the vesting schedule and performance conditions (if any) in the 2021 Omnibus Incentive Plan.
- Confirm the total number of shares underlying the $1,000,000 fair value grants based on the stock price on November 2, 2022.
- Review subsequent filings for any changes in executive tenure or additional compensation adjustments.