HESKA CORPORATION (NASDAQ:HSKA) 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.
On April 23, 2018, the Board of Directors (the “Board”) of Heska Corporation (the “Company”) appointed Jason Aroesty as Executive Vice President, International Diagnostics (“EVP”). In this capacity, Mr. Aroesty will assume responsibility for the Company’s international (non-US) expansion of Heska’s veterinary diagnostics business. As EVP, Mr. Aroesty will report directly to the Company’s Chief Executive Officer, Kevin Wilson.
Mr. Aroesty, age 43, brings more than 15 years of experience in the In Vitro Diagnostics Industry, where he has played key commercial leadership roles in the Healthcare Division at Siemens (Siemens Healthineers) for the past 12 years. Mr. Aroesty was based in Europe for over 10 years, during which time he led various country organizations and later took regional leadership responsibilities. Most recently, Mr. Aroesty was responsible for Global Sales, Marketing and Communications for the Point of Care business in the Siemens Healthcare Division (Siemens Healthineers). Mr. Aroesty graduated from Syracuse University with a Bachelor’s Degree in Operations Management and earned a Master of Business Administration from the University of Rochester’s Simon School.
Effective April 23, 2018, the Company entered into an Employment Agreement with Mr. Aroesty (the “Agreement”). to the terms of the Agreement, Mr. Aroesty will receive an initial annual base salary of $300,000 (the “Base Salary”) and will be eligible to participate in the Company’s Management Incentive Plan. Mr. Aroesty will also be entitled to participate in the Company’s Benefit Plans (as defined in the Agreement) available to other Company executives. Under the Agreement, if the Company terminates Mr.Aroesty’s employment without “Cause”, or if Mr. Aroesty resigns for “Good Reason”, and such termination is not “In Connection with a Change of Control” (each as defined in the Agreement), Mr. Aroesty will receive (a)12 months of Base Salary, if such termination occurs on or before April 23, 2021, or (b) six months of Base Salary, if such termination occurs after April 23, 2021. If such termination occurs In Connection with a Change of Control, Mr. Aroesty will receive 12 months of Base Salary.
The foregoing summary of the Agreement is qualified in its entirety by reference to the full text of the Agreement, which is expected to be filed by the Company with the Securities and Exchange Commission with the Company's quarterly report on Form 10-Q for the quarter ending June 30, 2018. Interested parties are urged to read the Agreement in its entirety when it becomes available because it contains important information.
About HESKA CORPORATION (NASDAQ:HSKA)
Heska Corporation develops, manufactures, markets, sells and supports veterinary products. The Company focuses on the canine and feline companion animal health markets. Its segments include Core Companion Animal Health segment, which includes, primarily for canine and feline use, blood testing instruments and supplies, digital imaging products, software and services, and single use products and services, such as heartworm diagnostic tests, heartworm preventive products, allergy immunotherapy products and allergy testing, and Other Vaccines, Pharmaceuticals and Products segment, which includes private label vaccine and pharmaceutical production, primarily for cattle but also for other animals, including small mammals. It offers blood testing instruments and supplies, digital imaging products, software and services, and single use products and services, such as in-clinic heartworm diagnostic tests, heartworm preventive products, allergy immunotherapy products and allergy testing.
