Business Context and Reporting Period
This Form 8-K is a current report filed by Ra Medical Systems, Inc. (not Catheter Precision, Inc.) on February 4, 2021, covering the event date of January 31, 2021. The filing discloses the appointment of a new director to the Company's Board of Directors.
Financial Metrics
This filing does not contain financial statements, revenue, profit, cash flow, margin, debt, or liquidity data. The document focuses exclusively on corporate governance and director compensation arrangements.
Material Changes
The material change reported is the appointment of Susanne Meline as a Class II director, effective January 31, 2021. Her term expires at the 2023 annual meeting of stockholders. Ms. Meline brings experience as a co-founder of Francis Capital Management, a former investment banker at Houlihan Lokey, and a former attorney at Jones Day.
Compensation and Governance Details
- Annual Retainer: $40,000 payable in quarterly installments (cash or restricted stock).
- Initial Equity Grant: 4,000 Restricted Stock Units (RSUs) granted on February 3, 2021, vesting annually over four years.
- Future Equity Eligibility: Eligible for annual RSU awards valued at $100,000 at the 2021 annual meeting, subject to continued service.
- Committee Fees: Additional compensation is available for committee service (e.g., $10,000 for Audit Committee, $20,000 for Audit Chair) and Board leadership roles (e.g., $40,000 for Board Chair).
- Expenses: The Company will reimburse reasonable expenses related to her services.
Key Facts for Investor Verification
- Verify the correct registrant name is Ra Medical Systems, Inc. (Ticker: RMED), not Catheter Precision, Inc.
- Confirm the vesting schedule of the 4,000 RSUs granted to Ms. Meline.
- Review the Company's 2018 Equity Incentive Plan for terms governing the RSU award.
- Check for any subsequent filings regarding Ms. Meline's committee assignments to determine total potential compensation.