Accelerate Diagnostics, Inc. (NASDAQ:AXDX) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02
On November 14, 2017, the Board of Directors (the “Board”) of Accelerate Diagnostics, Inc. (the “Company”) increased the size of the Board to eight (8) members and elected Charles Watts, M.D. as a director of the Company, effective November 14, 2017. The Board has not yet appointed Dr. Watts to any committees, though it may appoint him to one or more committees in the future. On November 16, 2017, the Company issued a press release announcing Dr. Watt’s appointment to the Board, a copy of which is attached hereto as Exhibit 99.1 and is incorporated by reference.
Dr. Watts will receive the standard compensation for non-employee directors as described in the Company’s most recent proxy statement on Schedule 14A dated April 10, 2017.
Except as described above, Dr. Watts was not selected as a director of the Company to any arrangement or understanding between him and any other person. Dr. Watts has no direct or indirect material interest in any transaction required to be disclosed to Item 404(a) of Regulation S-K.
| Item 5.03 | Amendment to Articles of Incorporation or Bylaws; Change in Fiscal Year |
On November 14, 2017, the Board amended Article IV, Paragraph 2 of the By-laws of the Company (the “By-laws”) to provide that the number of directors on the Board shall be not less than three (3) nor more than ten (10). The By-laws previously provided that the number of directors shall be not less than three (3) nor more than seven (7).
The foregoing description of the amendment to the By-laws does not purport to be complete and is qualified in its entirety by reference to the full text of the Amendment No. 1 to the By-laws, a copy of which is filed as Exhibit 3.1 to this Current Report on Form 8-K and is incorporated herein by reference.
| Item 9.01 | Financial Statements and Exhibits. |
(d)Exhibits.The following materials are filed as exhibits to this Current Report on Form 8-K:
Accelerate Diagnostics, Inc ExhibitEX-3.1 2 tv479804_ex3-1.htm EXHIBIT 3.1 EXHIBIT 3.1 AMENDMENT NO. 1 TO THE BY-LAWS OF ACCELERATE DIAGNOSTICS,…To view the full exhibit click here
About Accelerate Diagnostics, Inc. (NASDAQ:AXDX)
Accelerate Diagnostics, Inc. is an in vitro diagnostics company engaged in providing solutions that improve patient outcomes and lower healthcare costs through the diagnosis of serious infections. The Company’s technology platform is built to address these challenges by delivering testing of infectious pathogens in various patient sample types. The Company is focused on the development of a rapid diagnostic platform, the Accelerate ID/AST System (ID/AST System or Accelerate ID/AST System), intended for the diagnosis of infectious pathogens. The ID/AST System utilizes genotypic technology to identify (ID) infectious pathogens and phenotypic technology to conduct antibiotic susceptibility testing (AST), which determines whether live bacterial or fungal cells are resistant or susceptible to a particular antibiotic. The ID/AST System features walk-away automation and consists of a fixed instrument and single-use test kit.
