INOVALON HOLDINGS,INC. (NASDAQ:INOV) 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.
Effective April 19, 2018, Jason B. Capitel has been promoted to the position of Chief Operating Officer of Inovalon Holdings, Inc. (the “Company”). Mr.Capitel, age 46, previously served as the Company’s Chief Revenue Officer, a position he held since January 2018.
Prior to joining the Company as Chief Revenue Officer in January2018, Mr. Capitel served as the Chief Revenue Officer for SecureWorks, a division of Dell Technologies, from January 2017 to October 2017. Prior to this role, Mr. Capitel served in expanding sales and operations roles at EMC Corporation from 2003 through 2017, culminating in his serving as Chief Revenue Officer for EMC's Enterprise Content Division where he was responsible for all global go to market and revenue generating activities. During his time at EMC, Mr. Capitel also served as Chief Operating Officer for EMC’s EMEA division overseeing the operations of many EMC business units and functions in EMEA, including its RSA security division, the Information Intelligence Group, inside sales, marketing, channel, service provider, and alliance teams. Mr. Capitel received his Bachelor’s of Science Degree from Southern Illinois University.
There are no family relationships between Mr.Capitel and any director, executive officer, or any person nominated or chosen by the Company to become a director or executive officer. No information is required to be disclosed with respect to Mr.Capitel to Item 404(a)of Regulation S-K other than with respect to the terms of his engagement with the Company, as described below.
Mr.Capitel is party to our standard Employment Agreement for executives, which has been previously filed. In connection with his promotion, Mr.Capitel’s Employment Agreement will be amended to provide for an increase of his annual compensation by $50,000 to $450,000 per year. In addition, Mr.Capitel will receive a one-time equity award of $1,000,000 in the form of shares of restricted ClassA common stock of the Company, issuable under the Company’s 2015 Omnibus Equity Incentive Plan, subject to approval by the Board of Directors of the Company.
About INOVALON HOLDINGS,INC. (NASDAQ:INOV)
Inovalon Holdings, Inc. is a technology company. The Company combines advanced cloud-based data analytics and data-driven intervention platforms to provide services for health plans, hospitals, physicians, patients, pharmaceutical companies and researchers. The Company operates through developing cloud-based data analytics and data-driven intervention platforms segment and provides related services to its clients. The Company’s datasets, integration technologies, predictive analytics and subject matter expertise allows the Company to provide platforms. Its analytics platforms identify gaps in care, quality, data integrity and financial performance in its clients’ datasets. The Company’s data analytics and intervention platforms consist of four primary components: data integration, advanced analytics, intervention platforms and business processing. The Company integrates data into its systems through its Extract, Transform, Load (ETL) tools and processes.