CONNECTURE, INC. (NASDAQ:CNXR) 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 November28, 2017, the Board of Directors (the “Board”) of Connecture, Inc. (the “Company”), approved a transition plan to which Brian D. Lindstrom would be hired and appointed Chief Financial Officer and Corporate Secretary and Vincent E.Estrada, the Company’s prior Chief Financial Officer and Corporate Secretary, would transition to a new role within the Company as Executive Vice President of Corporate Development, each effective December4, 2017.
Prior to joining the Company, Mr.Lindstrom, age 46, served as Chief Operating Officer of Datica Health, Inc., a provider of HIPAA compliant, cloud-based infrastructure for developers across healthcare, from December 2016 through November 2017. Previously, Mr.Lindstrom served as the Chief Financial Officer of Influence Health, Inc., a developer of clinical and digital marketing software for healthcare providers, from May 2013 through November 2016, and as Corporate Controller for Epic Systems, Inc., a provider of inpatient and ambulatory enterprise healthcare management software, from May 2007 through April 2013. Mr.Lindstrom is a CPA, holds a B.S. in accounting from Bradley University, M.S. from Purdue University and Advanced Management Program from University of Chicago.
Mr.Lindstrom’s annual base salary will be $275,000, he will have an annual target bonus of 50% of his annual base salary. In connection with his appointment, the Company will grant Mr.Lindstrom restricted stock units representing 300,000 shares of the Company’s common stock.
In connection with the appointment of Mr.Lindstrom as Chief Financial Officer as of December4, 2017, Mr.Estrada will assume the role of Executive Vice President of Corporate Development. In connection with his new position, Mr.Estrada entered into a letter agreement, to which he has agreed to reduce his annual salary to $85,000 and retain a target bonus of 50% of his annual base salary, each effective January1, 2018. Additionally, Mr.Estrada agreed to amend his employment agreement to provide that if he is terminated before January1, 2019, the base salary used for purposes of determining his severance payments thereunder will be $300,000 and if he is terminated after January1, 2019, his base salary for purposes of determining his severance payments will be his then-current base salary.
The foregoing descriptions of the employment arrangements with Mr.Lindstrom and Mr.Estrada are qualified in their entirety by the respective terms of the employment agreement and letter agreement entered into with Mr.Lindstrom and Mr.Estrada, which are filed as Exhibits 10.1 and 10.2, respectively, to this current report on Form 8-K. A press release announcing the appointment of Mr.Lindstrom and the new role for Mr.Estrada is also attached hereto as Exhibit 99.1 and is incorporated by reference herein.
|Item 5.02||Financial Statements and Exhibits.|
CONNECTURE INC ExhibitEX-10.1 2 d504685dex101.htm EX-10.1 EX-10.1 Exhibit 10.1 EMPLOYMENT AGREEMENT This Employment Agreement (this Agreement) is made and entered into as of December 4,…To view the full exhibit click
About CONNECTURE, INC. (NASDAQ:CNXR)
Connecture, Inc. provides a Web-based consumer shopping, enrollment and retention platform for health insurance distribution. The Company caters its services to health insurance marketplace operators, such as health plans, brokers and exchange operators. It operates through four segments: Enterprise/Commercial, Enterprise/State, Medicare and Private Exchange. The Enterprise/Commercial segment offers insurance distribution solutions to health plans. The Enterprise/State segment offers the sales automation solutions to state Governments, which allow its customers to offer customized individual and small group exchanges. The Medicare segment offers Web-based Medicare plan comparison, prescription drug comparison and enrollment tools for health plans, pharmacy benefit managers, pharmacies, field marketing organizations and call centers. The Private Exchange segment offers defined-contribution benefit exchange solutions to benefit consultants, brokers, exchange operators and aggregators.