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

ME Staff 8-k
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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.
On November 4, 2016, Cogentix Medical, Inc. (the “Company”) filed a Current Report on Form 8-K to disclose the appointment of Dr. Uri Geiger and Mr. Nachum Shamir to the Company’s Board of Directors on November 3, 2016. This Amendment discloses provisions for non-employee director compensation for Messrs. Geiger and Shamir, as well as Mr. Shamir’s appointment to the Compensation Committee of the Board on December 28, 2016.
On December 28, 2016, in connection with his appointment to the Board, Mr. Shamir received a grant of 100,000 shares of restricted stock that will fully vest six months after the grant date. In addition, Mr. Shamir will receive a cash retainer of $50,000 per annum paid quarterly for his Board service, and an additional retainer of $4,500 per annum paid quarterly for his service on the Compensation Committee. These payments are consistent with existing provisions for non-employee director compensation previously approved by the Board.
Dr. Geiger has waived receiving cash or equity compensation for his role as a director. Dr. Geiger will receive (i) a quarterly expense allowance of $8,000 in connection with his service as a director and (ii) reimbursement of reasonable and documented travel expenses incurred in connection with his service as a director.


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 down -0.02 at 2.11 with 126,124 shares trading hands.