BIOANALYTICAL SYSTEMS, INC. (NASDAQ:BASI) 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 July 31, 2017, Larry S. Boulet, Chairman of the Board of Directors (the “Board”) of Bioanalytical Systems, Inc. (the “Company”), notified the Company that he was retiring from the Board effective on August 1, 2017. Mr. Boulet served on the Board for over 10 years and the Company is deeply grateful to him for his exemplary leadership and personal dedication to the Company and its shareholders. In connection with his retirement from the Board, Mr. Boulet also retired from his positions on the Board’s committees and as Chairman of the Board.
On August 1, 2017, the Board unanimously elected R. Matthew Neff as an independent, Class I director and appointed Mr. Neff as Chairman of the Company’s Audit Committee. Mr. Neff’s term will expire at the 2019 annual meeting of shareholders.
As a director of the Company, Mr. Neff will receive compensation as a non-employee director in accordance with the Company’s non-employee director compensation practices described in the Company’s Proxy Statement on Schedule 14A filed with the Securities and Exchange Commission on January 30, 2017. This compensation generally consists of cash payments (annual cash retainers and Board and committee meeting fees) and such stock option awards as may be granted from time to time.
A copy of the press release announcing the election of Mr. Neff is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
Item 7.01 Regulation FD Disclosure
In connection with Mr. Boulet’s retirement, the Board unanimously elected Gregory C. Davis, Ph.D. as interim Chairman of the Board.
Item 9.01 Financial Statements and Exhibits
| 99.1 | Press Release dated August 3, 2017. |
BIOANALYTICAL SYSTEMS INC ExhibitEX-99.1 2 v472213_ex99-1.htm EXHIBIT 99.1 Exhibit 99.1 NEWS RELEASE FOR MORE INFORMATION: Company Contact: Jill Blumhoff Chief Financial Officer & Vice President—Finance Phone: 765.497.8381 jblumhoff@BASInc.com BASi Announces Election of R. Matthew Neff to the Board of Directors WEST LAFAYETTE,…To view the full exhibit click here
About BIOANALYTICAL SYSTEMS, INC. (NASDAQ:BASI)
Bioanalytical Systems, Inc. (BASi) is a contract research organization (CRO) providing drug discovery and development services and analytical instruments. The Company operates through two segments: contract research services and research products. Its contract research services segment provides research and development support on a contract basis directly to pharmaceutical companies. Its research products segment provides liquid chromatography, electrochemical and physiological monitoring products to pharmaceutical companies, universities, government research centers and medical research institutions. Its Culex family of robotic automated dose delivery, blood and other biofluids sampling and physiological parameters measurement systems enable researchers to determine pharmacokinetic/pharmacodynamic (PK/PD) profiles of drugs in large and small animal models. The Company’s bioanalytical services group supports research, preclinical and clinical programs.