IRADIMED CORPORATION (NASDAQ:IRMD) 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 Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Departure of Leslie McDonnell as President and Chief Executive Officer
On May 28, 2020, Leslie McDonnell, the President and Chief Executive Officer of Iradimed Corporation (the “Company”), separated from the Company effective immediately. Ms. McDonnell’s separation from the Company constitutes a separation without Cause as defined in that certain Employment Agreement, dated July 24, 2019, by and between the Company and Ms. McDonnell (the “Employment Agreement”). The Employment Agreement was filed as Exhibit 10.1 to the Company’s Current Report on Form 8-K, filed with the Securities and Exchange Commission (the “SEC”) on July 29, 2019.
Appointment of Roger Susi as President and Chief Executive Officer
On May 28, 2020, the Board of Directors of the Company (the “Board”) appointed Roger Susi, age 66, as President and Chief Executive Officer of the Company, effective as of the date of Ms. McDonnell’s separation. In connection with Mr. Susi’s appointment as President and Chief Executive Officer, Mr. Susi resigned from his position as Chief Technology Officer of the Company, which he held since August 2019. Mr. Susi currently serves as Chairman of the Board, and will continue in that role while serving as President and Chief Executive Officer of the Company. Mr. Susi is the founder of the Company and has served as a member of the Board since inception. Mr. Susi also served as Chief Executive Officer and President from inception until August 2019, when he took the role of Chief Technology Officer. No new compensatory arrangements were entered into with Mr. Susi in connection with his appointment.
As previously disclosed in the Company’s Definitive Proxy Statement, filed with the SEC on April 29, 2020, the Company entered into and renewed its lease agreement for a facility in Winter Springs, Florida (the “Lease”), owned by Susi, LLC, an entity controlled by Mr. Susi. The Lease has an expiration date of May 31, 2024. There are no family relationships between Mr. Susi and other officers or directors of the Company.
A copy of the press release the Company issued regarding this transition is furnished hereto as Exhibit 99.1.
Item 9.01 Financial Statements and Exhibits.
IRADIMED CORP Exhibit
EX-99.1 2 exh99-1.htm Exhibit 99.1 IRADIMED CORPORATION Names Roger Susi as President and Chief Executive Officer Winter Springs,…
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About IRADIMED CORPORATION (NASDAQ:IRMD)
IRADIMED CORPORATION (IRADIMED) develops, manufactures, markets and distributes Magnetic Resonance Imaging (MRI) compatible products, and provides non-magnetic intravenous (IV) infusion pump systems. The Company operates through development, manufacture and sale of MRI compatible products and IV infusion pump systems for use by hospitals and acute care facilities during MRI procedures segment. Its MRidium MRI compatible IV infusion pump system has been designed with a non-magnetic ultrasonic motor, non-ferrous part and other features in order to deliver anesthesia and other IV fluids during various MRI procedures. MRI compatible IV infusion pump system includes the 3860+ MRI compatible IV infusion pump, single-use IV tubing sets, a non-magnetic pole and a lithium battery. In addition, it offers optional upgrade systems, including the 3865 Remote Display/Control, 3861 Side Car, Dose Error Reduction System (DERS) and SpO2 monitor.
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