HTG Molecular Diagnostics, Inc. (NASDAQ:HTGM) 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
|
Departure of Directors or Certain Officers; Election of |
(e)
Our executive officers, including our principal executive
officer, principal financial officer and our other named
executive officers, are eligible to receive annual
performance-based bonuses to their employment agreements with us.
The following table lists our executive officers and their
respective target bonuses to their employment agreements,
expressed as a percentage of their base salary:
|
Executive Officer |
Target Bonus Percentage |
|
Timothy B. Johnson, President and Chief Executive Officer |
50% |
|
Shaun D. McMeans, Vice President of Finance |
40% |
|
John L. Lubniewski, Chief Business Officer |
40% |
|
Debra A. Gordon, Vice President and Chief Legal Counsel |
40% |
|
Patrick C. Roche, Senior Vice President for Research and |
40% |
The annual performance-based bonus each executive officer is
eligible to receive is generally based on the extent to which we
achieve corporate goals that our board of directors establishes
each year. At the end of each year, our board of directors
reviews our performance against each corporate goal and approves
the extent to which we achieved each of our corporate goals.
On May 25, 2017, our board of directors adopted corporate goals
for purposes of determining the eligibility of our executive
officers to receive performance-based bonuses for 2017. The
corporate goals relate to the following categories: budget;
financial performance; market development and commercialization
metrics; and progress with companion diagnostic collaborations.
There is no minimum percentage of corporate goals that must be
achieved in order to earn a bonus. No specific individual goals
were established for any of our executive officers for 2017.
About HTG Molecular Diagnostics, Inc. (NASDAQ:HTGM)
HTG Molecular Diagnostics, Inc. is a commercial-stage company that develops and markets a technology platform to facilitate the routine use of complex molecular profiling. The Company’s HTG Edge and HTG EdgeSeq platforms, consisting of instrumentation, consumables and software analytics, are used in sample profiling applications, including tumor profiling, molecular diagnostic testing and biomarker development. The Company’s HTG Edge and HTG EdgeSeq platforms automate the molecular profiling of genes and gene activity using its nuclease protection chemistry on a range of biological samples. The Company’s HTG EdgeSeq chemistry, together with its HTG Edge or HTG EdgeSeq instrumentation and software, automates and adapts its nuclease protection chemistry to enable analysis using next generation sequencing (NGS) instrumentation. The HTG EdgeSeq system utilizes substantially the same sample preparation reagents as its original chemistry, but allows for read out on an NGS instrument. HTG Molecular Diagnostics, Inc. (NASDAQ:HTGM) Recent Trading Information
HTG Molecular Diagnostics, Inc. (NASDAQ:HTGM) closed its last trading session up +0.45 at 3.91 with 121,271 shares trading hands.
