COGENTIX MEDICAL, INC. (NASDAQ:CGNT) 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 Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.
Inc. (the Company) adopted and approved a Management Incentive
Plan for the fiscal year ended December 31, 2017 (the 2017 MIP).
The 2017 MIP is designed to provide a short-term cash incentive
opportunity to Cogentixs key management, including the named
executive officers, for the achievement of specific corporate
performance goals during the fiscal year.
based on three weighted, corporate performance measures:
consolidated revenue (75%), completion of a business development
opportunity (15%) and team member retention (10%). The bonus
based on consolidated revenue performance can range from 0% to
200% of target. The bonus for each of the remaining measures will
be paid out at 100% if and only if the measure is achieved, and
then the bonus on each measure may be scaled up to 200% based on
consolidated revenue performance.
under the 2017 MIP for our named executive officers.
|
Darin Hammers (President CEO) target bonus of 65% of base
salary. |
|
Brett Reynolds (Sr. VP, CFO) target bonus of 45% of base
salary. |
|
Chris Arnold (VP of Sales) target bonus of 40% of base
salary. |
About COGENTIX MEDICAL, INC. (NASDAQ:CGNT)
Cogentix Medical, Inc. is a global medical device company. The Company designs, develops, manufactures and markets a line of fiber-optic and video endoscopy products under the PrimeSight brand that are used across various surgical specialties in diagnostic and treatment procedures. The Company also offers the Urgent PC Neuromodulation System (Urgent PC Systems), a device that delivers percutaneous tibial nerve stimulation (PTNS), for the office-based treatment of overactive bladder (OAB). The Company also offers Macroplastique Implants, an injectable urethral bulking agent for the treatment of adult female stress urinary incontinence that is primarily due to intrinsic sphincter deficiency. The PrimeSight flexible endoscopes are used in conjunction with the sterile, single-use microbial barrier known as the EndoSheath Protective Barrier. The PrimeSight endoscopy line also includes rigid endoscopes and portable peripherals, such as the video system and stroboscopy unit. COGENTIX MEDICAL, INC. (NASDAQ:CGNT) Recent Trading Information
COGENTIX MEDICAL, INC. (NASDAQ:CGNT) closed its last trading session up +0.01 at 1.70 with 30,687 shares trading hands.