Cryoport, Inc. Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Cryoport, Inc. on March 28, 2013. The filing reports a corporate governance event involving the Board of Directors.
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 statements.
Material Changes
The primary material change reported is the election of Mr. Richard G. Rathmann to the Board of Directors and his appointment as Chairman of the Compensation Committee. Mr. Rathmann brings 18 years of director experience in for-profit and non-profit entities, with specific expertise in the life sciences industry.
Compensation and Governance Details
- Equity Grant: Mr. Rathmann will receive an initial grant to purchase 100,000 shares of the Company's common stock upon joining the Board.
- Cash Compensation: He will receive $40,000 annually as a non-employee director and an additional $8,000 annually for his role as Compensation Committee Chair.
- Related Party Transactions: The filing states there are no related party transactions between the Company and Mr. Rathmann, nor any arrangements regarding his selection.
Outlook and Risks
The Board concluded that Mr. Rathmann's knowledge and experience in guiding growth companies in the life sciences industry make him a valuable addition. No specific risks, contingencies, or unusual items were disclosed in this filing.
Investor Verification Checklist
- Verify the vesting schedule and exercise price for the 100,000 share option grant.
- Confirm the total number of outstanding shares to assess the dilution impact of the new grant.
- Review the attached Press Release (Exhibit 99.1) for additional context on the appointment.
- Check subsequent filings for any changes to the Board composition or compensation plans.