Organogenesis Holdings Inc. current report, 16 February 2021

Full document

Business Context and Reporting Period

This Form 8-K filing by Organogenesis Holdings Inc. (ORGO) was submitted on February 16, 2021. The report discloses a significant change in executive leadership, specifically the appointment of a new Chief Financial Officer and the transition of the interim CFO to a different role.

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 executive compensation and personnel changes.

Material Changes

  • Appointment of CFO: David C. Francisco was appointed Chief Financial Officer, effective February 15, 2021. He brings 20 years of experience from PerkinElmer, Inc., where he most recently served as Vice President and Treasurer.
  • Departure of Interim CFO: Henry Hagopian ceased serving as interim Chief Financial Officer on February 15, 2021. He will transition to the role of Senior Vice President of Finance and Treasurer.

Compensation and Management Commentary

The filing details the compensatory arrangements for the new CFO, David C. Francisco, effective from his start date:

  • Base Salary: $375,000 annually.
  • Signing Bonus: $50,000.
  • Annual Target Bonus: 50% of base salary.
  • Equity Awards (granted February 15, 2021):
    • Stock Options: 43,239 shares of Class A common stock at an exercise price of $12.74 per share.
    • Restricted Stock Units (RSUs): 5,396 shares of Class A common stock.
  • Vesting Schedule: Both the options and RSUs fully vest on February 15, 2022, subject to continued employment.

Investor Verification Checklist

  • Verify the full text of the Offer Letter (Exhibit 10.1) for additional terms not summarized in the 8-K.
  • Review the press release (Exhibit 99.1) for broader strategic context regarding the leadership change.
  • Confirm the impact of the new CFO's appointment on the company's upcoming financial reporting and strategic direction.
  • Note that this filing contains no financial results; refer to the most recent 10-Q or 10-K for financial metrics.