GENMARK DIAGNOSTICS, INC. (NASDAQ:GNMK) 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.
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Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
Directors (the Compensation Committee) of GenMark Diagnostics,
Inc. (the Company) adopted the GenMark Diagnostics, Inc. 2017
Bonus Plan (the 2017 Plan), which provides for the payment to
eligible employees, including the Companys named executive
officers (NEOs), of cash incentive compensation for the 2017
calendar year performance period. Consistent with past practice,
the Compensation Committee established a target bonus for Hany
Massarany, the Companys President and Chief Executive Officer,
under the 2017 Plan equal to 50% of his annual base salary, and
established a target bonus for each of the Companys other NEOs
equal to 50% of their respective 2017 base salaries. Bonuses
payable under the 2017 Plan are based on certain financial,
commercial, and product development goals as approved by the
Compensation Committee. Based on actual performance, a
participant in the 2017 Plan may receive between 0% and 140% of
his or her target bonus amount under the 2017 Plan. The foregoing
description of the 2017 Plan is only a summary, does not purport
to be complete, and is qualified in its entirety by reference to
the full text of the 2017 Plan, a copy of which is filed hereto
as Exhibit 99.1.
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Item 9.01.
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Financial Statements and Exhibits.
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(i)
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The following exhibit is filed with this Current Report:
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Exhibit Number
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Description
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99.1
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The GenMark Diagnostics, Inc. 2017 Bonus Plan
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About GENMARK DIAGNOSTICS, INC. (NASDAQ:GNMK)
GenMark Diagnostics, Inc. (GenMark) is a molecular diagnostics company. The Company focuses on developing and commercializing its eSensor detection technology. Its eSensor electrochemical technology detects multiple distinct biomarkers in a single sample. It sells its XT-8 instrument and related diagnostic and research tests (XT-8 system) in the United States. It has developed and intends to commercially launch its sample-to-answer ePlex instrument and its associated diagnostic tests, which it collectively refers to as its ePlex system, in Europe and the United States. It operates in the development, manufacturing, sales and support of instruments and molecular tests based on its eSensor detection technology segment. Over four of its diagnostic tests, which run on its XT-8 instrument, have received United States Food and Drug Administration clearance, including Cystic Fibrosis Genotyping Test, Warfarin Sensitivity Test, Thrombophilia Risk Test and Respiratory Viral Panel. GENMARK DIAGNOSTICS, INC. (NASDAQ:GNMK) Recent Trading Information
GENMARK DIAGNOSTICS, INC. (NASDAQ:GNMK) closed its last trading session up +0.31 at 11.25 with 222,499 shares trading hands.
