Cynosure, Inc. (NASDAQ:CYNO) 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.
(e) On December 14, 2016, the Board of Directors (the “Board”) of Cynosure, Inc. (the “Company”) approved a grant to Michael Davin, the Company’s president and chief executive officer, of a performance-based stock unit award (the “Award”), issuable under the Company’s Amended and Restated 2005 Stock Incentive Plan (the “2005 Plan”). The target number of shares issuable under the award agreement is 62,893 (the “Target Shares”).
The Award represents the right to receive, upon and subject to the vesting of the Award, the number of shares of the Company’s common stock determined under the award agreement, subject to the Company’s level of achievement of adjusted income from operations (the “Performance Objective”) measured over a one-year performance period running from January 1, 2017 through December 31, 2017 (the “Performance Period”). If the Performance Objective for the Performance Period is achieved, then one-third of the Target Shares will vest on the date that the Compensation Committee of the Board certifies achievement of the Performance Objective, and one-third of the Target Shares will vest on each of the two subsequent annual anniversaries of such date.
The Award is subject to the terms and conditions, including provisions relating to termination, acquisitions and dispositions, of the 2005 Plan and the Company’s form of performance-based stock unit agreement previously filed with the Securities and Exchange Commission.
About Cynosure, Inc. (NASDAQ:CYNO)
Cynosure Inc. (Cynosure) develops and markets aesthetic treatment systems that enable plastic surgeons, dermatologists and other medical practitioners to perform procedures to remove hair, treat vascular and benign pigmented lesions, remove multi-colored tattoos, revitalize the skin, reduce fat through laser lipolysis, reduce cellulite, clear nails infected by toe fungus, ablate sweat glands and improve gynecologic health. The Company operates through aesthetic treatment products and services segment. It markets radiofrequency (RF) energy sourced medical devices for precision surgical applications, such as facial plastic and general surgery; gynecology; ear, nose and throat procedures; ophthalmology; oral and maxillofacial surgery; podiatry, and proctology. The Company’s product portfolio utilizes a range of energy sources, including Alexandrite, diode, neodymium-doped yttrium aluminum garnet (Nd: YAG), pulse dye, Q-switched lasers, intense pulsed light and RF technology. Cynosure, Inc. (NASDAQ:CYNO) Recent Trading Information
Cynosure, Inc. (NASDAQ:CYNO) closed its last trading session down -3.05 at 42.70 with 698,401 shares trading hands.