iRhythm Technologies, Inc. (NASDAQ:IRTC) 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.
On February 16, 2017, the Board of Directors (the Board) of
iRhythm Technologies, Inc. (the Company), upon recommendation of
its Compensation Committee (the Committee) and in consultation
with the Companys independent compensation consultant, Compensia,
Inc., approved various compensation arrangements for Kevin M.
King, the Companys President and Chief Executive Officer, Matthew
C. Garrett, the Companys Chief Financial Officer, and Derrick
Sung, the Companys Executive Vice President, Strategy and
The Committee approved new base salary and bonus opportunity
targets for fiscal year 2017 for these three named executive
officers.The table below sets forth the annual base salary and
annual target bonus for these executives that will be effective
on March 1, 2017 for fiscal year 2017. The bonus amounts will be
determined based upon achievement of a mix of Company and
individual performance objectives to the Companys Executive
Incentive Compensation Plan, which was filed with the Securities
and Exchange Commission as Exhibit 10.5 to the Companys
Registration Statement on Form S-1 on October 7, 2016.
Annual Base Salary for Fiscal Year 2017
Annual Target Bonus for Fiscal Year 2017
Kevin M. King
Matthew C. Garrett.
About iRhythm Technologies, Inc. (NASDAQ:IRTC)
iRhythm Technologies, Inc. is a United States-based digital health company. The Company develops and commercializes solutions that integrate biosensor technology, patient data, analytics and medical expertise. The Company offers flagship solution, the ZIO Service. Its ZIO Service consists of the ZIO XT Patch, algorithms and the ZIO Report. Its myZIO provides a way for patients to enter their symptoms as they occur and on-the-go while wearing the ZIO Patch. Its ZIO Event Card is indicated for use on patients who experience transient symptoms, such as syncope, palpitations, and shortness of breath or dizziness. Its ZIO XT Patch is a non-invasive, water-resistant heart monitor, which prompts high patient compliance and a higher diagnostic yield. Its algorithms analyze the amounts of captured heart beat data and a concise report is provided to the patient’s physician. Its ZIO Report produces a higher diagnostic yield and to change patient management. iRhythm Technologies, Inc. (NASDAQ:IRTC) Recent Trading Information
iRhythm Technologies, Inc. (NASDAQ:IRTC) closed its last trading session up +0.42 at 38.27 with 296,807 shares trading hands.