Apollo Endosurgery, Inc. (NASDAQ:APEN) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On December 7, 2017, upon the recommendation of the Compensation Committee, the Board of Directors of Apollo Endosurgery, Inc. (the “Company”) approved a one-time performance based cash bonus for Charles Tribié, the Company’s Executive Vice President, Operations, based on the achievement by the Company of certain gross margin improvement goals by June 30, 2019. Upon achievement, Mr. Tribié is eligible to receive up to 50% of his current base salary of $285,000, which will be paid in 2019 in a final amount determined by the Board of Directors of the Company.
About Apollo Endosurgery, Inc. (NASDAQ:APEN)
Apollo Endosurgery, Inc., formerly Lpath, Inc., is a medical device company. The Company is focused on less invasive therapies for the treatment of obesity, as well as other gastrointestinal disorders. The Company’s device-based therapies are an alternative to invasive surgical procedures. The Company offers products in over 80 countries. The Company’s products include ORBERA, LAP-BAND and OverStitch. The Company’s product, ORBERA, is a gastric balloon. The ORBERA Intragastric Balloon System is a weight loss aid for adults suffering from obesity. The LAP-BAND System is a minimally invasive procedure that offers weight loss. The LAP-BAND System is indicated for weight reduction for patients with obesity. The OverStitch Endoscopic Suturing System enables advanced endoscopic surgery by allowing physicians to place full-thickness sutures through a flexible endoscope. OverStitch offers solutions for defects in both the upper and lower gastrointestinal tract.
