LivaNova PLC (NASDAQ:LIVN) 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
(b) On March 18, 2019, David Wise, Chief Administrative Officer of LivaNova Plc (the “Company”), resigned from his position and assumed the role of Senior Advisor, assisting with special projects from the same date.
In connection with Mr. Wise’s new role as Senior Advisor, the Company will pay Mr. Wise an annual base salary in the amount of $300,000. Mr. Wise’s target bonus amount under the Company’s 2019 Short-Term Incentive Plan will be 50% of his base salary. He remains eligible to participate in the Company’s 2019 Long-Term Incentive Plan. All other benefits remain unchanged. Mr. Wise does not have a written employment agreement and continues to be employed at will.
(e) The description set forth in Item 5.02(b) above is incorporated by reference into this Item 5.02(e).
About LivaNova PLC (NASDAQ:LIVN)
LivaNova PLC is a medical technology company. The Company operates through three segments: Cardiac Surgery, Cardiac Rhythm Management (CRM) and Neuromodulation. The Cardiac Surgery business unit is engaged in the development, production and sale of cardiovascular surgery products, including oxygenators, heart-lung machines, perfusion tubing systems and systems for autotransfusion and autologous blood washing. The CRM business unit develops, manufactures and markets products for the diagnosis, treatment and management of heart rhythm disorders and heart failure. CRM offers products, including leads and delivery systems, and information systems. The Neuromodulation business unit designs, develops and markets neuromodulation-based medical devices for the treatment of epilepsy and depression. Through the Neuromodulation business unit, the Company markets its implantable VNS Therapy systems that deliver vagus nerve stimulation therapy for the treatment of epilepsy and depression.