Dynatronics Corporation (NASDAQ:DYNT) 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 Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Appointment of Principal Financial Officer.
On November 9, 2020, the Company announced the hiring of Norman Roegner III, 46, and his appointment as Chief Financial Officer (Principal Financial Officer) of the Company, succeeding John A. Krier, who will continue as the Company’s Chief Executive Officer. Prior to joining the Company, Mr. Roegner served as Vice President of Finance of Phillips-Medisize, LLC, a subsidiary of Molex, LLC. Molex, LLC is a subsidiary of Koch Industries and a globally recognized provider of electronic solutions in a wide range of industries, including medical device manufacturing from 2016 to 2019. Prior to his role with Phillips-Medisize, LLC, from 1998 to 2016, Mr. Roegner held various leadership roles in the finance, supply chain, sales operations and marketing divisions of the Molex organization. Mr. Roegner holds a B.S. degree in Accountancy from Northern Illinois University and a M.B.A. from DePaul University.
In connection with Mr. Roegner’s hiring, the Company and Mr. Roegner entered into a letter agreement containing the basic terms of his employment by the Company as an at-will employee. Mr. Roegner will receive an annual base salary of $230,000 and will be eligible for an annual cash bonus payment equal to up to a targeted value up to $40,250 and an annual equity award of restricted stock units, or RSUs, up to a targeted value of $40,250. In addition, Mr. Roegner will be eligible for a grant of RSUs, for up to 10,000 shares, of the Company’s common stock, vesting over a four-year period with one-fourth of the shares vesting annually on the anniversary of the grant date. As an at-will employee, Mr. Roegner’s employment may be terminated at any time by the Company. As a condition of his employment, Mr. Roegner will enter into a confidentiality and non-compete agreement that prohibits him from working for a competitor of the Company for a twelve-month period following the termination of his employment.
Mr. Roegner is not a party to any agreement or transaction that would require disclosure under Item 404(a) of Regulation S-K. There are no family relationships between Mr. Roegner and any director or executive officer of the Company that would require disclosure under Items 401(d) or 404(a) of Regulation S-K (17 CFR 229.401(d) and 229.404(a)).
Item 7.01 Regulation FD Disclosure.
On November 9, 2020, the Company issued a press release announcing the appointment of Mr. Roegner. A copy of the press release is furnished as Exhibit 99.1 and incorporated herein by reference.
The information in Item 7.01 of this Current Report on Form8-K(including Exhibit 99.1 attached hereto) is being furnished to Item 7.01 and shall not be deemed to be filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise be subject to the liabilities of that section, nor shall it be deemed to be incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, whether made before or after the date hereof and regardless of any general incorporation language in such filing.
Item 9.01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits
DYNATRONICS CORP Exhibit
EX-99.1 2 dynt_ex991.htm PRESS RELEASE dynt_ex991 Exhibit 99.1 Dynatronics Appoints Norman Roegner III as Chief Financial Officer Eagan,…
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About Dynatronics Corporation (NASDAQ:DYNT)
Dynatronics Corporation is a manufacturer and distributor of physical medicine products. The Company’s products include a line of medical equipment for physical medicine applications, including therapy devices, medical supplies and soft goods, treatment tables and rehabilitation equipment. Its products are used by physical therapists, chiropractors, sports medicine practitioners, podiatrists, physicians and other physical medicine professionals. Its physical medicine products include therapeutic modalities, such as Dynatron Solaris, including electrotherapy and thermal therapy, and 25 Series, including electrotherapy and ultrasound; manufactured capital products, including traction systems and wood furniture; manufactured supplies, including cold packs, straps, wedges, bolsters and mats; distributed capital products, including hydrotherapy, weight training equipment and pilates, and distributed supplies, including clinical accessories, sports med and taping products, lotions and gels.
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