Business Context and Reporting Period
This Form 8-K Current Report was filed by Ra Medical Systems, Inc. (not Catheter Precision, Inc.) on March 30, 2023. The filing reports a material change in executive leadership, specifically the appointment of a new Chief Financial Officer.
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 compensation arrangements rather than financial performance data.
Material Changes
- Executive Appointment: Steven Passey was appointed as Chief Financial Officer, effective April 1, 2023.
- Executive Departure: Brian Conn, who served as Acting Chief Financial Officer, is being replaced by Mr. Passey.
- Compensation Structure: Mr. Passey will receive an annual salary of $250,000 and is eligible for a discretionary performance bonus.
- Equity Award: Mr. Passey is slated to receive an equity award of up to 2.5% of the Company's equity securities, subject to stockholder approval of a qualified stock incentive plan and determination by the Compensation Committee regarding the specific type of securities and terms.
Guidance, Outlook, and Risks
The filing contains no financial guidance, outlook, or discussion of risks and contingencies. The document notes that Mr. Passey has no family relationships with Company officers or directors and has not entered into any transactions disclosable under Item 404 of Regulation S-K.
Investor Verification Checklist
- Verify the exact terms and vesting schedule of the proposed 2.5% equity award once the Compensation Committee determines the specific securities.
- Confirm the status of the stockholder vote required to approve the qualified stock incentive plan.
- Review the attached press release (Exhibit 99.1) for additional context on the strategic rationale for the leadership change.
- Check subsequent filings for the official start date and any transition details regarding the departure of the Acting CFO.