Impinj, Inc. (NASDAQ:PI) 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.
Item 8.01.
Other Events.
In connection with Evan Fein’s previously announced resignation as chief financial officer of the Company effective on March 30, 2018, the Company designated (i) Eric Brodersen, its president and chief operating officer, as principal financial officer for SEC reporting purposes and (ii) Denise Masters, its interim vice president of accounting and corporate controller, as principal accounting officer for SEC reporting purposes. The board of directors of the Company approved these appointments on April2, 2018, in each case effective from Mr. Fein’s resignation through the time a new chief financial officer is appointed. Neither Mr. Brodersen’s nor Ms. Masters’ compensation changed in connection with the foregoing appointments.
In addition, the Company announced that it engaged Linda Breard on a consultant basis effective March 26, 2018 while the Company continues to search for a new chief financial officer. Under the engagement, Ms. Breard will work closely with Mr. Brodersen and Ms. Masters in the performance of their duties as principal financial officer and principal accounting officer, respectively. Prior to joining the Company, Ms. Breard served as chief financial officer and executive vice president at Kaiser Permanente and Group Health, as chief financial officer and senior vice president at Quantum, and as vice president of accounting and finance at Advanced Digital Information Corporation. She currently serves on the board of directors of Insight Enterprises and Potlatch Corporation. A copy of the press release is filed as Exhibit 99.1 hereto and is incorporated herein by reference.
Mr. Brodersen, 51, has served as the Company’s president and chief operating officer since November 2014. His biography is set forth under the section titled “Executive Officers” in the Company’s definitive proxy statement filed on April 21, 2017 and is hereby incorporated by reference.
Ms. Masters, 44, has served as the Company’s interim vice president of accounting and corporate controller since March 2018. Prior to joining the Company, Ms. Masters was Vice President Finance at Blucora, Inc. and had overall responsibility for SEC reporting and compliance, accounting and treasury. Ms. Masters received B.A. in accounting from Ohio Wesleyan University.
Since January 1, 2017, there have been no transactions, and there are no currently proposed transactions, to which the Company was or is a participant and in which Mr. Brodersen or Ms. Masters had or is to have a direct or indirect material interest that would require disclosure to Item 404(a) of Regulation S-K. Neither Mr. Brodersen nor Ms. Masters has any family relationship with any of the Company’s directors or executive officers.
About Impinj, Inc. (NASDAQ:PI)
Impinj, Inc. is a provider of RAIN radio frequency identification (RFID) solutions. The Company sells a platform that includes endpoint integrated circuits (ICs), reader ICs, readers and gateways that enable wireless connectivity to everyday items, and software that delivers Item Intelligence from endpoint reads. The Impinj Platform connects billions of everyday items, such as apparel, medical supplies, automobile parts, drivers’ licenses, food and luggage to applications, such as inventory management, patient safety, asset tracking and item authentication, delivering real-time information to businesses about items they create, manage, transport and sell. The Impinj Platform wirelessly delivers information about these items’ identity, location and authenticity, or Item Intelligence, to the digital world.