Lantheus Holdings, Inc. - Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Lantheus Holdings, Inc. on March 25, 2016. The report discloses a material change in executive leadership regarding the appointment of a permanent Chief Financial Officer.
Key Financial Metrics
The filing does not provide financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on executive compensation and appointment details.
Material Changes
On March 25, 2016, the Board of Directors appointed John W. Crowley as the permanent Chief Financial Officer and Treasurer, effective immediately. Mr. Crowley had previously served in this role on an interim basis since December 10, 2015. Prior to his interim appointment, he served as Vice President, Chief Accounting Officer since March 2015.
Compensation and Severance Arrangements
In connection with the permanent appointment, Mr. Crowley's compensation package was amended as follows:
- Base Salary: Increased to $360,000 annually, effective March 25, 2016.
- Target Bonus: Increased to 50% of the new base salary.
- Severance (Termination without Cause): Entitled to base salary plus a pro-rated portion of 50% of base salary, payable over 12 months, plus 12 months of benefit subsidies.
- Severance (Change of Control): If terminated without cause or for good reason within 12 months of a change of control, entitled to 150% of base salary payable over 12 months, plus 12 months of benefit subsidies.
Investor Verification Checklist
- Verify the effective date of the permanent CFO appointment (March 25, 2016).
- Confirm the new annual base salary of $360,000 and the 50% target bonus structure.
- Review the specific severance triggers and payout durations (12 months) outlined in the amended employment agreement.
- Note that this filing contains no financial results; refer to the most recent 10-Q or 10-K for financial metrics.