Cardiovascular Systems, Inc. (NASDAQ:CSII) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02
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Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
Systems, Inc. (the Company) elected Martha Goldberg Aronson as a
Class III director. The Board of Directors also appointed Ms.
Aronson as a member of the Human Resources and Compensation
Committee and the Audit, Risk Management and Finance Committee.
arrangement or understanding between her and any other person.
Ms. Aronson has not been a party to, nor has she had a direct or
indirect material interest in, any transaction with the Company
during the current or preceding fiscal year. In connection with
her service as a director, Ms. Aronson will participate in the
Companys Board of Directors compensation program. Accordingly,
for the fiscal year ending June 30, 2017, Ms. Aronson will
receive annual retainers of $40,000 and $20,000 for her Board and
Committee service, respectively, and a Restricted Stock Unit
(RSU) award with a value of $125,000, each pro-rated for the
portion of fiscal 2017 for which Ms. Aronson will serve as a
director. The RSU is payable in cash or shares of the Companys
common stock, at the Companys discretion, within 30 days after
the six month anniversary of the termination of Ms. Aronsons
Board membership. In addition, Ms. Aronson executed the Companys
standard Indemnification Agreement for directors.
Board of Directors of the Company. Ms. Triggs resignation was not
due to a disagreement with the Company.
announcing these changes to the Board of Directors. A copy of the
press release is attached hereto as Exhibit 99.1.
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(d)
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Exhibits
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Exhibit
Number
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Description
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99.1
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Press release dated February 21, 2017.
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About Cardiovascular Systems, Inc. (NASDAQ:CSII)
Cardiovascular Systems, Inc. is a medical technology company. The Company is engaged in treating patients suffering from peripheral and coronary artery diseases, including those with arterial calcium. The Company develops an orbital atherectomy technology for both peripheral and coronary commercial applications. Its peripheral artery disease (PAD) systems are catheter-based platforms capable of treating a range of plaque types in leg arteries both above and below the knee. Its products include Diamondback 360 Peripheral Orbital Atherectomy System (OAS) (Diamondback 360 Peripheral), the Stealth 360 OAS (Stealth 360), Diamondback 360 Peripheral, Diamondback 360 60cm Peripheral, Diamondback 360 Low Profile Peripheral, Diamondback 360 1.50 Peripheral and Diamondback 360 2.00 Peripheral. The Company’s coronary arterial disease (CAD) product, Diamondback 360 Coronary OAS (Coronary OAS), is marketed as a treatment for severely calcified coronary arteries. Cardiovascular Systems, Inc. (NASDAQ:CSII) Recent Trading Information
Cardiovascular Systems, Inc. (NASDAQ:CSII) closed its last trading session down -1.02 at 28.17 with 464,641 shares trading hands.
