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
Item5.02
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Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
(e) (f)
On April13, 2017, the Board of Directors (the Board) of HTG
Molecular Diagnostics, Inc. (the Company) approved a
performance-based retention and incentive bonus award (Bonus
Award) for each of the Companys Named Executive Officers in the
amounts set forth in the table below. The Bonus Awards are, in
part, in consideration of Company performance during 2016. The
Bonus Awards are expressly conditioned upon the completion by the
Company of a financing transaction, or series of related
financing transactions, in which the Company raises aggregate
gross proceeds in excess of $12 million and, with respect to each
Named Executive Officer, his continued employment through the
completion of such financing transaction(s) (the Financing Goal).
No Bonus Awards will be earned or paid if the Financing Goal does
not occur.
|
Executive Officer |
Title |
BonusAward | ||||
|
Timothy B. Johnson |
President and Chief Executive Officer | $ | 142,500 | |||
|
John L. Lubniewski |
Chief Business Officer | $ | 85,739 | |||
|
PatrickC.Roche,Ph.D. |
Senior Vice President, Research and Development | $ | 73,615 |
Because payment of the Bonus Awards is expressly conditioned on
the Financing Goal, the non-equity incentive plan compensation
reportable for 2016 for each of the Named Executive Officers is
$0. Accordingly, the total compensation figure previously
provided for each of the Named Executive Officers in the Summary
Compensation Table within the Companys Annual Report on Form
10-K, filed on March23, 2017, remains unchanged.
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 down -0.03 at 5.81 with 673,092 shares trading hands.